The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund also popularly known as PM CARES Fund. It was created on 28 March 2020 following the COVID-19 pandemic in India.
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| image source: https://www.pmcares.gov.in/ |
Keeping in mind the need for having a dedicated national fund with the primary objective of dealing with any kind of emergency or distress situation, like posed by the COVID-19 pandemic, and to provide relief to the affected, a public charitable trust under the name of ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)’ has been set up.
The fund will be used for combating, containment and relief efforts against the coronavirus outbreak and similar pandemic like situations in the future. The Prime Minister is the chairman of the trust. Members will include the defence, home and finance ministers.
Objectives Of PM CARES FUND :
Objectives Of PM CARES FUND :
- To undertake and support relief or assistance of any kind relating to a public health emergency or any other kind of emergency, calamity or distress, either man-made or natural, including the creation or upgradation of healthcare or pharmaceutical facilities, other necessary infrastructure, funding relevant research or any other type of support.
- To render financial assistance, provide grants of payments of money or take such other steps as may be deemed necessary by the Board of Trustees to the affected population.
- To undertake any other activity, which is not inconsistent with the above Objects.
Constitution of the Trust :
Prime Minister is the ex-officio Chairman of the PM CARES Fund and Minister of Defence, Minister of Home Affairs and Minister of Finance, Government of India are ex-officio Trustees of the Fund.
The Chairperson of the Board of Trustees (Prime Minister) shall have the power to nominate three trustees to the Board of Trustees who shall be eminent persons in the field of research, health, science, social work, law, public administration and philanthropy.
Any person appointed a Trustee shall act in a pro bono capacity.
Main points of PM CARES FUND:
Any person appointed a Trustee shall act in a pro bono capacity.
Main points of PM CARES FUND:
- The fund consists entirely of voluntary contributions from individuals/organizations.
- The fund does not get any budgetary support.
- The fund will be utilised in meeting the objectives as stated above.
- Donations to PM CARES Fund would qualify for 80G benefits for 100% exemption under the Income Tax Act, 1961.
- Donations to PM CARES Fund will also qualify to be counted as Corporate Social Responsibility (CSR) expenditure under the Companies Act, 2013
- PM CARES Fund has also got exemption under the FCRA
- A separate account for receiving foreign donations has been opened. This enables PM CARES Fund to accept donations and contributions from individuals and organizations based in foreign countries.
This is consistent with respect to Prime Minister’s National Relief Fund (PMNRF). PMNRF has also received foreign contributions as a public trust since 2011.
The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)
The fund will also enable micro-donations. The minimum donation accepted for the PM CARES Fund is ₹10 (14¢ US). The donations will be tax exempt and fall under corporate social responsibility. The Prime Minister had said that the PMO had received many requests to help in the war against COVID-19. Accordingly, the fund was set up and will be used for disaster management and research.
TO DONATE CLICK HERE TO GO TO OFFICIAL WEBSITE
Also Read
Q.1 What is PM CARES Fund?
Keeping in mind the need for having a dedicated national fund with the primary objective of dealing with any kind of emergency or distress situation, like posed by the COVID-19 pandemic, and to provide relief to the affected, a public charitable trust under the name of ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)’ has been set up.
Q.2 Who are the Trustees of the PM CARES Fund?
The Prime Minister is Chairperson (ex-officio) of the Fund and Minister of Defence, Minister of Home Affairs and Minister of Finance, Government of India are ex-officio Trustees of the Fund.
The Chairperson of the Board of Trustees (Prime Minister) of PM CARES Fund has the power to nominate three trustees to the Board who shall be eminent persons in the field of research, health, science, social work, law, public administration and philanthropy. However, no such appointment has been made so far.All the Trustees of the PM CARES Fund act in a pro bono capacity.
Q.3 What are the Objectives of the PM CARES Fund Trust?
The primary objectives of the Trust are:-
To undertake and support relief or assistance of any kind relating to a public health emergency or any other kind of emergency, calamity or distress, either man-made or natural, including the creation or upgradation of healthcare or pharmaceutical facilities, other necessary infrastructure, funding relevant research or any other type of support.
To render financial assistance, provide grants of payments of money or take such other steps as may be deemed necessary by the Board of Trustees to the affected population.
To undertake any other activity, which is not inconsistent with the above Objects.
Q.4 What type of domestic donation are accepted in PM CARES Fund?
PM CARES Fund accepts voluntary contributions by individuals/organizations as well as contributions as part of CSR from Companies/Public Sector Undertakings (PSUs). However, contributions flowing out of budgetary sources of the PSUs are not accepted.
Q.5 What are the modes through which domestic donation can be made to PM CARES Fund?
Contributions can be made by following modes:-
Net Banking (SBI and other commercial Banks)
Card Payments – SBI ATM-cum-Debit Card, Other Bank Debit Cards, Credit Card, Prepaid Card, Foreign Card
Other Payment mode: SBI Branch, NEFT/RTGS
Contributions can also be made online through theportal of PMO i.e. pmindia.gov.in as well as through the portals of the collection banks..
Further, cheque or demand draft drawn in favour of ‘PM CARES Fund’ can be sent to Under Secretary (Funds), PMO, South Block, New Delhi, Pin -110011 along with Name, Address, Mobile No. and E-mail ID of the donor.
Q.6 Are contributions towards the PM CARES Fund exempted from Income Tax?
Yes, all contributions towards the PM CARES Fund are 100% exempted from Income Tax under Section 80(G) of the Income Tax Act, 1961.
Q.7 Are contributions towards PM CARES Fund qualify as CSR expenditure?Yes, any contribution made to the PM CARES Fund by any Company or a PSU shall qualify as Corporate Social Responsibility (CSR) expenditure as provided under the Companies Act, 2013.
Q.8 Does PM CARES Fund have a Permanent Account Number (PAN)?Yes, PM CARES Fund has been allotted a Permanent Account Number (PAN) AAETP3993P.
Q.9 Who has the powers to formulate criterions for disbursal of funds held under PM CARES Fund?The Trustees of the PM CARES Fund have powers to formulate rules/criterions for carrying out any of the Objectives of the Trust.
Q. 10 How will be the formal donation receipts issued to the donors?The donors will be able to download formal donation receipts by visiting ‘Print Receipt’ Section of the PM CARES portal after successful transaction.
Q. 11 How do I know about the status of my payment online?
If your transaction is done through NEFT/RTGS/IMPS, the transaction would be updated based on the statement received from the concerned banks. The receipts can be generated only after this. This might take at least 30days.
If your transaction is by Cheque the transaction would be updated from the bank to PM CARES. However, the payee details would be updated only if the cheque for PM CARES is presented in the same bank. If the cheque is presented in another bank, the payee details would not be updated by the bank. In such cases, the receipt can be obtained only by updating your Name, email ID, Amount etc. with cheque number and amount in the receipt generator module. The module will match the cheque number and amount and issue the receipt. This might take at least 30days.
Q.12 Is there any transaction charge for online payment?
There is no transaction charge levied by PM CARES Fund for online payment. However some banks may levy the net-banking transaction charges, which may vary from bank to bank.
Q.13 Who is the authority to issue certificate for claiming deductions u/s 80(G) of the Income Tax Act, 1961 in respect of donations made by employees of an organisation to the PM CARES Fund?
In respect of such donations, benefit will be admissible u/s 80(G) of the Income Tax Act, 1961 on the basis of the certificate issued by Drawing and Disbursing Officer [DDO] / Employer in this behalf.
Q.14 Who audits the PM CARES Fund?
The PM CARES Fund will be audited by one or more qualified independent auditor(s) who will be appointed by the Trustees.
Q.15 Whether Foreign Donation is accepted in PM CARES Fund?
Yes. PM CARES Fund has received exemption from operation of all provisions of the Foreign Contribution (Regulation) Act, 2010. Foreign Donation is accepted from individuals and organizations based in Foreign countries through Foreign Credit / Debit Cards and also through Wire Transfer/SWIFT following the link on Home page of PM CARES Fund portal.
Also Read
The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)
The fund will also enable micro-donations. The minimum donation accepted for the PM CARES Fund is ₹10 (14¢ US). The donations will be tax exempt and fall under corporate social responsibility. The Prime Minister had said that the PMO had received many requests to help in the war against COVID-19. Accordingly, the fund was set up and will be used for disaster management and research.
TO DONATE CLICK HERE TO GO TO OFFICIAL WEBSITE
Also Read
FREQUENTLY ASKED QUESTIONS REALETD TO PM CARES FUND:
Keeping in mind the need for having a dedicated national fund with the primary objective of dealing with any kind of emergency or distress situation, like posed by the COVID-19 pandemic, and to provide relief to the affected, a public charitable trust under the name of ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)’ has been set up.
Q.2 Who are the Trustees of the PM CARES Fund?
The Prime Minister is Chairperson (ex-officio) of the Fund and Minister of Defence, Minister of Home Affairs and Minister of Finance, Government of India are ex-officio Trustees of the Fund.
The Chairperson of the Board of Trustees (Prime Minister) of PM CARES Fund has the power to nominate three trustees to the Board who shall be eminent persons in the field of research, health, science, social work, law, public administration and philanthropy. However, no such appointment has been made so far.All the Trustees of the PM CARES Fund act in a pro bono capacity.
Q.3 What are the Objectives of the PM CARES Fund Trust?
The primary objectives of the Trust are:-
To undertake and support relief or assistance of any kind relating to a public health emergency or any other kind of emergency, calamity or distress, either man-made or natural, including the creation or upgradation of healthcare or pharmaceutical facilities, other necessary infrastructure, funding relevant research or any other type of support.
To render financial assistance, provide grants of payments of money or take such other steps as may be deemed necessary by the Board of Trustees to the affected population.
To undertake any other activity, which is not inconsistent with the above Objects.
Q.4 What type of domestic donation are accepted in PM CARES Fund?
PM CARES Fund accepts voluntary contributions by individuals/organizations as well as contributions as part of CSR from Companies/Public Sector Undertakings (PSUs). However, contributions flowing out of budgetary sources of the PSUs are not accepted.
Q.5 What are the modes through which domestic donation can be made to PM CARES Fund?
Contributions can be made by following modes:-
Net Banking (SBI and other commercial Banks)
Card Payments – SBI ATM-cum-Debit Card, Other Bank Debit Cards, Credit Card, Prepaid Card, Foreign Card
Other Payment mode: SBI Branch, NEFT/RTGS
Contributions can also be made online through theportal of PMO i.e. pmindia.gov.in as well as through the portals of the collection banks..
Further, cheque or demand draft drawn in favour of ‘PM CARES Fund’ can be sent to Under Secretary (Funds), PMO, South Block, New Delhi, Pin -110011 along with Name, Address, Mobile No. and E-mail ID of the donor.
Q.6 Are contributions towards the PM CARES Fund exempted from Income Tax?
Yes, all contributions towards the PM CARES Fund are 100% exempted from Income Tax under Section 80(G) of the Income Tax Act, 1961.
Q.7 Are contributions towards PM CARES Fund qualify as CSR expenditure?Yes, any contribution made to the PM CARES Fund by any Company or a PSU shall qualify as Corporate Social Responsibility (CSR) expenditure as provided under the Companies Act, 2013.
Q.8 Does PM CARES Fund have a Permanent Account Number (PAN)?Yes, PM CARES Fund has been allotted a Permanent Account Number (PAN) AAETP3993P.
Q.9 Who has the powers to formulate criterions for disbursal of funds held under PM CARES Fund?The Trustees of the PM CARES Fund have powers to formulate rules/criterions for carrying out any of the Objectives of the Trust.
Q. 10 How will be the formal donation receipts issued to the donors?The donors will be able to download formal donation receipts by visiting ‘Print Receipt’ Section of the PM CARES portal after successful transaction.
Q. 11 How do I know about the status of my payment online?
If your transaction is done through NEFT/RTGS/IMPS, the transaction would be updated based on the statement received from the concerned banks. The receipts can be generated only after this. This might take at least 30days.
If your transaction is by Cheque the transaction would be updated from the bank to PM CARES. However, the payee details would be updated only if the cheque for PM CARES is presented in the same bank. If the cheque is presented in another bank, the payee details would not be updated by the bank. In such cases, the receipt can be obtained only by updating your Name, email ID, Amount etc. with cheque number and amount in the receipt generator module. The module will match the cheque number and amount and issue the receipt. This might take at least 30days.
Q.12 Is there any transaction charge for online payment?
There is no transaction charge levied by PM CARES Fund for online payment. However some banks may levy the net-banking transaction charges, which may vary from bank to bank.
Q.13 Who is the authority to issue certificate for claiming deductions u/s 80(G) of the Income Tax Act, 1961 in respect of donations made by employees of an organisation to the PM CARES Fund?
In respect of such donations, benefit will be admissible u/s 80(G) of the Income Tax Act, 1961 on the basis of the certificate issued by Drawing and Disbursing Officer [DDO] / Employer in this behalf.
Q.14 Who audits the PM CARES Fund?
The PM CARES Fund will be audited by one or more qualified independent auditor(s) who will be appointed by the Trustees.
Q.15 Whether Foreign Donation is accepted in PM CARES Fund?
Yes. PM CARES Fund has received exemption from operation of all provisions of the Foreign Contribution (Regulation) Act, 2010. Foreign Donation is accepted from individuals and organizations based in Foreign countries through Foreign Credit / Debit Cards and also through Wire Transfer/SWIFT following the link on Home page of PM CARES Fund portal.
Also Read
source: https://www.pmcares.gov.in
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