Now I know why suddenly all corporate are donating huge money to pretty much opaque and newly created trust PM-Cares.
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The Ministry of Corporate Affairs has said that donations made by companies to the PM CARES Fund will be considered as expenditure on corporate social responsibility (CSR).
The decision comes days after the government decided to include corporates' spending on checking coronavirus as part of CSR.
The corporate social responsibility rules make it mandatory for large Indian firms to set aside at least 2 per cent of their average net profit for socially responsible expenditures.
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The Ministry of Corporate Affairs has said that donations made by companies to the PM CARES Fund will be considered as expenditure on corporate social responsibility (CSR).
The decision comes days after the government decided to include corporates' spending on checking coronavirus as part of CSR.
The corporate social responsibility rules make it mandatory for large Indian firms to set aside at least 2 per cent of their average net profit for socially responsible expenditures.