Analyze whether the under given expenditure qualifies for CSR expenses: Spending of CSR funds for COVID19 related activities.
CS Professional · CSR and Social Governance · PYQS · June 2024
Analyze whether the under given expenditure qualifies for CSR expenses: Spending of CSR funds for COVID19 related activities.
Answer & Explanation:
Ministry of Corporate Affairs vide general circular No. 0/2020 dated 23rd March, 2020 has clarified that spending CSR funds for COVID-19 related activities shall qualify as CSR expenditure. It is further clarified that funds may be spent for various activities related to COVID-19 under items nos. (i) and (xii) of Schedule VII relating to promotion of health care including preventive health care and sanitation, and disaster management. Further, as per general circular No. 21/2014 dated 18.06.2014, items in Schedule VII are broad based and may be interpreted liberally for this purpose.
Topics: Corporate Social Responsibility (CSR)
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