Q.1 What is PM CARES Fund?
PM CARES Fund is a public charitable trust. It has been set up keeping in mind the need for having a dedicated 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.
Q.2 Who are the Trustees of the PM CARES Fund?
The Prime Minister is Chairperson (ex-officio) 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 Prime Ministers as the Chairperson of the Board of Trustees 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. 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 PM CARES Fund 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 assist the affected population.
- To undertake any other activity, which is not inconsistent with the above Objects.
Q.4 What is the legal framework of PM CARES Fund?
PM CARES Fund has been registered as a Public Charitable Trust. The trust deed of PM CARES Fund has been registered under the Registration Act, 1908 at New Delhi on 27th March, 2020.
Q.5 What are the responsibilities of the Trustees?
The Trustees are responsible for the following:
- Fulfilling the objects of the Trust;
- Managing the contribution process to ensure proper application of the Trust property;
- Preparing and submitting all filings, accounts and returns as required under applicable law.
Q.6 How is the PM CARES Fund administered?
The fund is administered on an honorary basis by a Joint Secretary (Administration) in the PMO as Secretary to the fund, who is assisted on honorary basis by an Officer of the rank of Director/Deputy Secretary (Administration) in the PMO. The Prime Minister’s Office provides such administrative and secretarial support to the Trustees for the management and administration of the Trust, as may be required by the Trustees.
Q.7 Where is the Head Office of the Fund?
The Head Office of the Fund is Prime Minister’s Office, South Block, New Delhi.
Q.8 What type of domestic donations 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.9 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 the dedicated portal – pmcares.gov.in as well as the portal of PMO i.e. pmindia.gov.in. One can also contribute 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. 10 Are contributions towards the PM CARES Fund exempted from Income Tax?
Yes, all contributions towards the PM CARES Fund are 100% exempt from Income Tax under Section 80(G) of the Income Tax Act, 1961 for those who opt for the old tax slabs.
Q. 11 Is PM CARES Fund exempted from paying Income Tax?
Yes, the fund is exempted from paying Income Tax as per Section 10(23)(c) of Income Tax Act, 1961.
Q.12 Does contribution 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.13 Does PM CARES Fund have a Permanent Account Number (PAN)?
Yes, PM CARES Fund has been allotted a Permanent Account Number (PAN) AAETP3993P.
Q.14 Who has the powers to formulate criteria for disbursal of funds held under PM CARES Fund?
The Trustees of the PM CARES Fund have powers to formulate rules/criteria for carrying out any of the Objectives of the Trust.
Q.15 How much money has been sanctioned from PM CARES Fund?
So far, an amount of Rs. 3100 Crore has been allocated from PM CARES Fund for the following activities:-
- Rs. 2000 Crore : For supply of 50,000 ‘Made-in India’ ventilators to Government Hospitals run by Centre/States/UTs
- Rs. 1000 Crore : For care of migrant labourers (funds allotted to State/UT Govts.)
- Rs. 100 Crore : For vaccine development
Q.16 How will be a formal donation receipt issued to the donors?
The donor will be able to download formal donation receipt by visiting ‘Print Receipt’ Section of the PM CARES portal after successfully completing the transaction. The process flow and timeline of generation of receipts through various modes of transaction is given as below:-
'Print Receipt' Section → Select the Channel used for donation → Enter Mobile No. and Bank Reference Number → Enter the OTP received on Mobile number → Download Receipt
|Mode of Transaction||Generation of Receipt|
|Donations made using pmcares.gov.in or pmindia.gov.in website||Receipt can be downloaded instantly after successful completion of transaction from the Print Receipt page.|
|UPI mode (i.e. BHIM/PhonePe/MobiKwik/Google Pay/Amazon Pay/PayTM)||Receipt can be downloaded by selecting the channel “PMCARES@SBI – UPI” in the ‘Print Receipt’ page (This might take upto 7 days).|
|SBI Transactions (i.e. SBI Collect/SBI Yono/ Internet Banking)||Receipt can be generated by selecting the channel “SBI Internet Banking Transactions” in the ‘Print Receipt’ page (This might take upto 7 days).|
|Transaction made directly in any of the collection bank account (except SBI) of PM CARES||Receipt can be generated by selecting the channel/Bank used for making donation in the ‘Print Receipt’ page (This might take upto 7 days).|
|NEFT/RTGS/IMPS/Cheque/Demand Draft/Cash||Receipts can be obtained only by updating the requisite fields in the ‘Print Receipt’ page. (This might take upto 7 days).|
Q.17 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.18 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, the benefit will be admissible u/s 80(G) of the Income Tax Act, 1961 on the basis of a certificate issued by Drawing and Disbursing Officer [DDO] / Employer in this behalf.
Q.19 Who audits the PM CARES Fund?
PM CARES Fund is audited by an independent auditor. Trustees of the Fund during the 2nd meeting held on 23.04.2020 decided to appoint M/s SARC & Associates, Chartered Accountants, New Delhi as the auditors of PM CARES Fund for 3 years.
Q.20 What is the statutory period by which the accounts should be audited?
There is no statutory period prescribed for audit of the PM CARES under Income Tax Act. However, audit will be conducted at the end of the Financial Year.
Q.21 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.
Donation in foreign currency can be made to PM CARES A/c in State Bank of India, New Delhi Main Branch, A/c No. 39239654818, IFSC-SBIN0000691, SWIFT Code-SBININBB104.
Name and address of the Nodal Branches of existing collection Banks are as below:-
Collection Accounts of PM CARES Fund
|S.N.||Name of the Bank||Branch||Account Number / IFSC||Remarks|
|1.||State Bank of India||New Delhi Main Branch, No.11, Parliament Street, New Delhi-110001.||SB A/C No. 39238765008 IFSC: SBIN0000691||Donations deposited in any of these bank accounts are deposited in to PM CARES Fund at SBI, Parliament Street having Account No. ‘2121PM20202’.|
|2.||Axis Bank||New Delhi Main Branch||SB A/c No. 920010023235458 IFSC: UTIB0000007|
|3.||Bandhan Bank||Preet Vihar Branch,80, Defence Enclave, Vikas Marg, New Delhi – 110092||SB A/c No. 50200013387466 IFSC: BDBL0001638|
|4.||Bank of Maharashtra||Dholpur House, UPSC, New Delhi||SB A/c No. 60355358964 IFSC: MAHB0001160|
|5.||Canara Bank||South Block, New Delhi||SB A/C No. 90552010174360 IFSC: SYNB0009055|
|6.||Central Bank of India||66, Janpath, New Delhi||SB A/C No. 3809123014 IFSC: CBIN0280318|
|7.||Equitas small finance bank||G1& G2, Ansal Bhawan 16, Kasturba Gandhi Marg, Opp. British Council, New Delhi-110001||SB A/c No. 100000001111 IFSC: ESFB0020002|
|8.||Federal Bank||Federal Bank - Connaught Circus, New Delhi||SB A/c No. 11050100237074 IFSC: FDRL0001105|
|9.||HDFC Bank||Vasant Vihar Branch, D 1&2, D Block Shopping Complex, Vasant Vihar, New Delhi.||SB A/c No. 59194700000000 IFSC : HDFC0000011|
|10.||ICICI Bank||Kasturba Gandhi Marg, New Delhi- 110001||SB A/C No.663701PMCARE IFSC: ICIC0006637|
|11.||IDBI Bank||K.G. Marg, Connaught Place, New Delhi.||SB A/c No. 0011104000631945 IFSC: IBKL0000011|
|12.||IDFC First Bank||Barakhamba Road, New Delhi||SB A/c No. 10053939205 IFSC : IDFB0020101|
|13.||Indian Bank||Connaught Place, New Delhi-110001||SB A/C No.6873294550 IFSC: IDIB000N022|
|14.||Indian Overseas Bank||Parliament Street, New Delhi||SB A/c No. 076201003042020 IFSC: IOBA0000762|
|15.||IndusInd Bank Ltd.||S-6, Building No18 &19, Oriental House, Gulmohar Community Centre, Yusuf Sarai, New Delhi 110016||SB A/c No. 100116111482 IFSC: INDB0000168|
|16.||Jana Small Finance Bank||16/12, First Floor, Arya Samaj Road, Karol Bagh, New Delhi - 110005||SB A/c No. 4512012244668800 IFSC: JSFB0004512|
|17.||Kotak Mahindra Bank||A/24, Safdarjung Enclave, New Delhi-29||SB A/C No: 2020111111 IFSC: KKBK0000175|
|18.||RBL Bank||Unit 14 & 15, DLF Capitol Point, Baba Kharak Singh Marg New Delhi-110001||SB A/c No. 309009760718 IFSC: RATN0000100|
|19.||Standard Chartered||Narain Manzil, 23, Barakhamba Road, New Delhi 110 001||SB A/c No. 52212189944 IFSC: SCBL0036020|
|20.||Yes Bank Ltd.||11/48, Diplomatic Enclave, Malcha Marg, Chankyapuri, New Delhi||SB A/C No.000394600001910 IFSC: YESB0000003|