The government has created a relief fund for people who are suffering from emergency situations like the COVID-19 pandemic. Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) fund, where people can contribute and help in the government’s fight against Coronavirus. This relief fund will help the government in creating a healthier India.
The Prime Minister chairs PM CARES fund and its members include the Defence minister, the Home Minister and the Finance Minister.
Contribution to this fund by the Companies will be considered as CSR expenditure under the seventh schedule of Companies Act, 2013. An individual’s contribution to this fund will be exempted from income tax under section 80(G).
People can contribute to the fund using debit and credit cards, internet banking, UPI, and RTGS/NEFT. People can also donate even in a small amount because PM CARES accepts micro-donations too.
Bollywood star Akshay Kumar committed a donation of Rs. 25 crores to the fund. Cricketer Suresh Raina also committed Rs.31 Lakh to the fund, while the BCCI will contribute Rs. 51 crore.
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