{"id":230121,"date":"2020-05-27T17:30:49","date_gmt":"2020-05-27T12:00:49","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=230121"},"modified":"2023-10-03T17:23:12","modified_gmt":"2023-10-03T11:53:12","slug":"centre-amends-schedule-vii-of-companies-act-to-include-pm-cares-fund-as-a-corporate-social-responsibility","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/27\/centre-amends-schedule-vii-of-companies-act-to-include-pm-cares-fund-as-a-corporate-social-responsibility\/","title":{"rendered":"Centre amends Schedule VII of Companies Act to include &#8220;PM CARES Fund&#8221; as a Corporate Social Responsibility"},"content":{"rendered":"<blockquote><p><span style=\"color: #008000;\"><strong>Centre makes amendment to Schedule VII of Companies Act, 2013 to include &#8220;PM CARES Fund&#8221; as a Corporate Social responsibility.<\/strong><\/span><\/p><\/blockquote>\n<p><span style=\"color: #008000;\"><strong>Thus, any contribution made to the PM-CARES Fund shall qualify as CSR expenditure.<\/strong><\/span><\/p>\n<hr \/>\n<p>G.S.R. 313(E).\u2014In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the <strong>Central Government hereby makes the following further amendment to Schedule VII of the said Act, namely:\u2014 <\/strong><\/p>\n<blockquote><p><span style=\"color: #ff0000;\">In Schedule VII, item (viii), after the words \u201cPrime Minister\u2019s National Relief Fund\u201d, the words \u201cor Prime Minister\u2019s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)\u201d shall be inserted. <\/span><\/p><\/blockquote>\n<p>2. This notification shall be deemed to have come into force on 28th March, 2020.<\/p>\n<hr \/>\n<p>Ministry of Corporate Affairs<\/p>\n<p style=\"text-align: right;\"><strong>[Notification dt. 26-05-2020]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Centre makes amendment to Schedule VII of Companies Act, 2013 to include &#8220;PM CARES Fund&#8221; as a Corporate Social responsibility. Thus, any <\/p>\n","protected":false},"author":8808,"featured_media":209748,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[8891,41603,2560,40649,41604],"class_list":["post-230121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications","tag-corporate-social-responsibility","tag-csr","tag-Ministry_of_Corporate_Affairs","tag-pm-cares-fund","tag-schedule-vii-of-companies-act"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Centre amends Schedule VII of Companies Act to include &quot;PM CARES Fund&quot; as a Corporate Social Responsibility | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/27\/centre-amends-schedule-vii-of-companies-act-to-include-pm-cares-fund-as-a-corporate-social-responsibility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Centre amends Schedule VII of Companies Act to include &quot;PM CARES Fund&quot; as a Corporate Social Responsibility\" \/>\n<meta property=\"og:description\" content=\"Centre makes amendment to Schedule VII of Companies Act, 2013 to include &#8220;PM CARES Fund&#8221; as a Corporate Social responsibility. 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In this regard, a set of Frequently Asked Questions (FAQs) along with clarifications are provided below for better understanding of the stakeholders. S. No.\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":227754,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/04\/01\/breaking-president-promulgates-taxation-and-other-laws-relaxation-of-certain-provisions-ordinance-2020\/","url_meta":{"origin":230121,"position":1},"title":"Breaking | President promulgates &#8212; Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020","author":"Bhumika Indulia","date":"April 1, 2020","format":false,"excerpt":"Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 has been promulgated to provide relaxation in the provisions of certain Acts and for matters connected therewith or incidental thereto. In view of the spread of pandemic COVID-l 9 across many countries of the world including India, causing immense loss\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":243477,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/06\/companies-corporate-social-responsibility-policy-amendment-rules-2021\/","url_meta":{"origin":230121,"position":2},"title":"Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021","author":"Bhumika Indulia","date":"February 6, 2021","format":false,"excerpt":"On January 22, 2021, the Government of India brought into effect the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021. The Rules amended the exiting Companies (Corporate Social Responsibility Policy) Rules, 2014. Corporate Social Responsibility (Rule 2) The Amendment modifies the definition of Corporate Social Responsibility (CSR) in order to\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/companies-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/companies-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/companies-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/companies-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/companies-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":234137,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/sc-refuses-to-direct-transfer-of-money-deposited-to-pm-cares-to-ndrf\/","url_meta":{"origin":230121,"position":3},"title":"SC refuses to direct transfer of money deposited to PM CARES to NDRF [DETAILED REPORT]","author":"Prachi Bhardwaj","date":"August 18, 2020","format":false,"excerpt":"\u201cWhen the Central Government is providing financial assistance to the States to contain COVID-19 it is not for any PIL petitioner to say that Centre should give amount from this fund or that fund.\u201d Supreme Court: Refusing to direct the money in the Prime Minister\u2019s Citizen Assistance and Relief in\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":221135,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/19\/central-govt-makes-amendments-to-schedule-vii-of-the-companies-act-2013\/","url_meta":{"origin":230121,"position":4},"title":"Central Govt. makes amendments to Schedule VII of the Companies Act, 2013","author":"Bhumika Indulia","date":"October 19, 2019","format":false,"excerpt":"Amendments to Schedule VII of Companies Act, 2013 In exercise of the powers conferred by sub-section (1) of Section 467 of the Companies Act, 2013, Central Government made following amendments to Schedule VII of the Companies Act, 2013, namely: For item (ix) in Schedule VII, following items and entries shall\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":230734,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/06\/11\/del-hc-pil-seeking-information-on-pm-cares-fund-dismissed-as-no-rti-application-filed-by-the-petitioner\/","url_meta":{"origin":230121,"position":5},"title":"Del HC | PIL seeking information on PM CARES Fund dismissed as no RTI application filed by the petitioner","author":"Bhumika Indulia","date":"June 11, 2020","format":false,"excerpt":"Delhi High Court:\u00a0A Division Bench of D.N.Patel, CJ and Prateek Jalan, J. dismissed the petition seeking information on PM CARES Fund while reserving liberty to the petitioner to prefer fresh proceedings before appropriate forum. 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