Ministry of Corporate Affairs, Government of India has clarified that a contribution made to ‘PM CARES Fund’ shall qualify as CSR expenditure under Item No viii of Schedule VII of the Companies Act, 2013.
However, any contribution to the Chief Minister’s Relief Fund or State Relief Fund for COVID-19 is not included in Schedule VII of the Companies Act, 2013 and therefore, any contribution to such funds shall not qualify as admissible CSR expenditure.
Nonetheless, contribution to State Disaster Management Authority to combat COVID-19 will qualify as CSR expenditure, MCA has added.