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
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.
