Corporate Contributions Towards CM Relief Funds/ State Relief Funds For COVID-19 Do Not Qualify As CSR Expenditure, Clarifies MCA [Read FAQs]

The Union Ministry of Corporate Affairs on Friday clarified that contributions made to the Chief Minister's Relief Fund or State Relief Fund for COVID-19 do not qualify as admissible CSR expenditure under the Companies Act, as they do not find mention in Schedule VII of the Act. "spending CSR funds for COVID-19 related activities shall qualify as CSR expenditure. It is...