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Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES FUND)

31/3/2020

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A special fund “Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES FUND)” has been set up for providing relief to the persons affected from the outbreak of Corona virus.The Ordinance also amended the provisions of the Income-tax Act to provide the same tax treatment to PM CARES Fund as available to Prime Minister National Relief Fund. Prime Minister Narendra Modi is the chairman of PM CARES Fund trust and its members include defence minister Rajnath Singh, home minister Amit Shah and finance minister Nirmala Sitharaman.
  • the donation made to the PM CARES Fund shall be eligible for 100% deduction under section 80G of the IT Act.
  • corporate paying concessional tax on income of FY 2020-21 under new regime can make donation to PM CARES Fund up to 30.06.2020 and can claim deduction u/s 80G against income of FY 2019-20 . 
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