Centre makes amendment to Schedule VII of Companies Act, 2013 to include “PM CARES Fund” as a Corporate Social responsibility.
Thus, any contribution made to the PM-CARES Fund shall qualify as CSR expenditure.
G.S.R. 313(E).—In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendment to Schedule VII of the said Act, namely:—
In Schedule VII, item (viii), after the words “Prime Minister’s National Relief Fund”, the words “or Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)” shall be inserted.
2. This notification shall be deemed to have come into force on 28th March, 2020.
Ministry of Corporate Affairs
[Notification dt. 26-05-2020]