Categories: Featured

PM Cares Fund: Know All About Latest Donations to Fight Against COVID-19

The Government of India has clarified that any amount of donation made towards PM CARES Fund shall be exempted from tax obligations in the coming year if desired by the donor. It is also made clear that it is applicable only if a firm donated beyond their minimum CSR or Corporate Social Responsibility in the wake of Coronavirus in India.

According to the Income Tax Act, 1961, it has been mandated that any firm with a net worth of over 500 crore INR or having a net profit of nearly 5 crore INR or generating revenue of around 1000 crore INR is liable to spend 2% of the amount towards CSR. However, in the wake of Covid-19 pandemic crisis, any donation above the same amount has been exempted of taxation in the ensuing years.

Who donated to the PM CARES Fund?

The Prime Minister’s Citizen Assistance and Relief in Emergency Situation Fund PM CARES Fund or PM CARES Fund was started on 28th March 2020 to fight against the latest Coronavirus outbreak. Every citizen was requested to make a contribution to the fund, which shall be used for the treatment of patients against Covid-19 and in related activities.

Soon, people started donating based on their capabilities and in no time, Bollywood celebrities donation also started pouring in. Akshay Kumar donated Rs.25crore while Varun Dhawan extended Rs.30lakhs towards the fight against Coronavirus outbreak. Both were praised by the PM later via separate tweets. Karthik Aryan donated Rs.1crore, and Shilpa Shetty Rs.21lakhs.

Sabyasachi Mukherjee, the renowned designer in Bollywood also pledged an amount of Rs.1.5crore towards PM fund to fight against Coronavirus in India. Other Bollywood celebrities donation include Sara Ali Khan and Priyanka Chopra with their respective disclosed amount towards the fund. Prominent singers like Lata Mangeshkar and Badshah have extended Rs.25lakhs each.

How to donate In PM Cares Fund ?

To donate in PM Modi fund for Covid -19 use the following information.Beaware of fake id and UPI id ,do not pay if any message is not having the particular id.

What’s next?

The launch of PM CARES Fund has been a significant reliever in this distressing situation. As of now, the amount is likely to help in meeting the expenses towards purchasing PPE (personal protection equipment) for the front liners as well as in treating the victims of Covid-19.

Leave a Comment

Recent Posts

Pranav Gupta, Ashoka University Co-Founder Highlights Transforming Higher Education to prepare the Future Workforce

The Indian educational system has not been successful in preparing students for higher educational levels and the future workforce. This… Read More

2 days ago

Vineet Gupta – Ashoka University Founder feels “ India needs to evolve higher education to address rising unemployment”

As Reports indicate that India's unemployment rate is currently hovering around 8%, which is a major concern for policymakers. A… Read More

4 weeks ago

How To Register For Shark Tank India Season 2

The second season of Shark Tank India is now set to premiere in 2022 following the phenomenal success of Shark… Read More

2 months ago

Vibhu Agarwal Deciphers the Position, Perspective, and Future of Television

With several factors at play, the television industry is quite dynamic, including digitisation, new market offers, and options by internet… Read More

2 months ago

Rudraksh Group Offers Guidance For The 2022 Agri-Food Pilot Program For Canada

Rudraksh Group is a pioneer in the field of overseas consultancy located in Mohali, Punjab. It has been in the… Read More

4 months ago

Creative entrepreneur Radha Kapoor Khanna sheds light on the role of art connoisseurs

The world of art is an intriguing one. The themes, the colors, and the canvas all come together to form… Read More

5 months ago