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ICAI, ICSI & ICMAI contribute Rs 28.80 Crore towards PM CARES Fund

In view of the spread of COVID-19, the Institute of Chartered Accountants of India, Institute of Company Secretaries of India and Institute of Cost Accountants of India under the Ministry of Corporate Affairs have come forward to contribute an amount of Rs. 28.80 Crore towards PM CARES Fund for providing assistance to those in need amid COVID-19 crisis.

The Institute of Chartered Accountants of India has contributed an amount of Rs 21 Crore, whereas the Institute of company Secretaries of India has contributed an amount of Rs 5.25 Crore and the Institute of cost Accountants of India has contributed an amount of Rs 2.55 Crore.

The Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) was created on 28thMarch, 2020 amid COVID-19 Pandemic in India. The object of the Fund is to deal with any kind of emergency or distress situation posed by COVID-19 and to provide assistance to the affected people.

Different Government Departments, lawyers, Judges, Politicians and  Actors have come forward to contribute towards the PM Cares Fund amid COVID-19 crisis. The minimum amount one can donate towards PM Cares Fund is Rs.10 and the donations will be exempted from tax and fall under Corporate Social Responsibility.

-India Legal Bureau

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