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MCA Update: Setting up makeshift hospitals and temporary COVID care facilities will be considered as eligible CSR activity
MCA Update: Setting up makeshift hospitals and temporary COVID care facilities will be considered as eligible CSR activity

April 23, 2021

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The Ministry of Corporate Affairs (MCA), vide issue of General Circular No. 05/2021 dated April 22, 2021, has clarified that spending of CSR funds for setting up “makeshift hospitals and temporary Covid care facilities” would be treated as an eligible CSR activity under Schedule VII of Companies Act, 2013. 

The companies may undertake these activities in consultation with state governments subject to fulfillment of Companies (CSR) Rules, 2014 and the circulars related to CSR issues by MCA.

Under the Companies Act, 2013, certain class of profitable entities are required to spend at least 2% of their three-year annual average net profit towards CSR.

This move will encourage corporates to undertake Corporate Social Responsibility (CSR) and set up temporary covid facilities during the pandemic. 

Copy of the Circular is attached for your reference.


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GeneralCircularNo5_22042021.pdf

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