31 August 2018
If a company is contributing to PM Relief Fund as CSR, will it get tax exemption under Section 80G ? We have a TRUST for Charity Purposes, if we contribute an amount of Rs 13 lakhs (13 lakhs to be spent under CSR) to that Trust will it be considered as CSR expenditure ?
2. The Ministry of Corporate Affairs has vide General Circular No. 21/2014 dated June 18, 2014 has clarified that Contribution to Corpus of a Trust/ Society/ Section 8 companies etc. will qualify as CSR expenditure as long as (a) the Trust/ Society/ Section 8 company etc. is created exclusively for undertaking CSR activities or (b) where the corpus is created exclusively for a purpose directly relatable to a subject covered in Schedule VII of the Act
CAclubindia
