MCA: Cos’ spending on Covid health infra to be considered CSR

The company Affairs Ministry on Wednesday clarified that any expenditure incurred by an organization to arrange well being infrastructure for Covid-19 remedy, together with on oxygen era crops and the manufacturing of ventilators and oxygen concentrators, might be counted in direction of Company Social Duty (CSR) expenditure.

Firms with a minimal web price of Rs 500 crore, turnover of Rs 1,000 crore, or web revenue of Rs 5 crore are required to spend not less than 2 per cent of their common revenue for the earlier three years on CSR actions yearly.

The notification clarified corporations might undertake CSR expenditure in collaboration with different corporations.

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