CRIC

Spends on Covid-19 vaccination campaigns can be considered as CSR: MCA

Spending of CSR funds for carrying out awareness campaigns, programmes or public outreach campaigns on Covid-19 vaccination programme is an eligible CSR activity, stated the latest MCA notification

e4m by exchange4media Staff
Updated: Jan 18, 2021 9:14 AM
covid 19

The Ministry of Corporate Affairs in its latest notification has said that expenditure incurred by India Inc on awareness campaigns on the Covid-19 vaccination programme can be considered towards their  Corporate Social Responsibility (CSR) spends.

“Spending of CSR funds for carrying out awareness campaigns, programmes or public outreach campaigns on Covid-19 vaccination programme is an eligible CSR activity,” read the notification.

It must be mentioned that all companies with a net worth of Rs 500 crore or more, or turnover of Rs 1,000 crore or more, or net profit of Rs 5 crore or more are required to spend 2 per cent of their average profit of the previous three years on CSR activities every year.

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