The Ministry of Corporate Affairs (“MCA”) vide general circular number 13/ 2021 dated July 30, 2021 (“Circular”), has clarified that, in continuation of the MCA’s general circular number 10/ 2020 dated March 23, 2020, spending CSR funds for COVID-19 vaccination on persons other than employees and their families would also qualify as an eligible CSR activity under item no. (i) of Schedule VII of the Companies Act, 2013 which relates to promotion of health care including preventive health care and item number (xii) of Schedule VII of the Companies Act, 2013 which relates to disaster management. This is however, subject to adherence to the Companies (CSR Policy) Rules, 2014 and related circulars issued by MCA.
Please find a copy of the Circular dated July 30, 2021 here.
This update has been contributed by Arka Majumdar (Partner) and Astha Singhania (Associate).
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