The ministry of corporate affairs (MCA) announced that funds spent on measures to tackle the Covid-19 outbreak will be counted towards the corporate social responsibility (CSR) activity of companies, in a circular on Monday.
Over 400 people have been infected by coronavirus and at least seven people have died while many states have announced lockdown to curb spread of infections.
Under the companies law, certain classes of profitable entities have to shell out at least two per cent of their three-year annual net profit towards Corporate Social Responsibility (CSR) activities in a particular financial year. (PTI)
