About PMCARES Fund
The full name of PM CARES is “Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund’ which is set up for situations arising after outbreak of COVID-19. The official details about this fund can be seen at the following site.
About PM Cares Fund – Click Here
Press release on PIB website : Click Here
Why donate to PM CARES Fund
- It is specifically made for COVID-19 relief measures.
- 100% Tax benefit u/s 80G without 10% restriction. This means that whatever amount you donate to PMCARES fund will be reduced from your taxable income while calculating the tax thereon.
- For claiming benefit under this section 80G for the financial year 2019-2020, you can make donations in this fund upto 30-06-2020.
- Contribution made to this fund will also be applicable for CSR purposes under the Companies Act.
How to donate
- Donations through cheque or demand draft to your bank
- Donations can also be done through debit cards, net banking and UPI by following the link given on PM India portal (Govt of India portal).
- Online donation option available on many bank’s website. Some of such web site address is given as below.
- For making offline payments you can contact your bank for the same.
|PM India Portal||Click Here|
|ICICI Bank||Click Here|
|HDFC Bank||Click Here|
|State Bank of India||Click Here|
|Axis Bank||Click Here|
How to claim tax benefit u/s 80G
- You can claim the benefit under section 80G based on acknowledgement received you can claim the benefit under section 80G at the time of filing of your income tax return.
In this challenging times, every Indian citizen should come forward and do their bit in this fight against COVID-19.
For UPI Payments you can use following QR Code
Amit Mundhra FCA
Author is a member of ICAI and he can be reached at firstname.lastname@example.org