Written by Fresh Circular from Ministry of Corporate Affairs
Fresh Announcement on #CSR funds usage for COVID–19 from MCA (Ministry of Corporate Affairs)
Considering the spread of novel Coronavirus (COVID-19) in India, the Ministry of Corporate Affairs (MCA) has earlier announced that spending of Corporate Social Responsibility Funds (CSR funds) for COVID-19 is an eligible CSR activity of a company.
The earlier announcement from the Government had also clarified that spending of CSR funds for carrying out awareness campaigns / programme on COVID 19 vaccination would be considered as the corporate social responsibility (CSR) activity of firms.
The current announcement released by MCA states that :
– spending of CSR funds for COVID-19 vaccination for persons other than the employees and their families, is an eligible CSR activity under item no. (i) of Schedule VII of the Companies Act, 2013 relating to promotion of health care including preventive health care and item no. (xii) relating to disaster management.
The companies may undertake the aforesaid activity subject to fulfillment of Companies (CSR Policy) Rules, 2014.
Download the notification from MCA here
Source – https://www.mca.gov.in/content/mca/global/en/notifications-tender/notices-circulars.html