Ministry of Corporate Affairs (“MCA”) vide notification dated 24 August 2020 has amended item (ix) of Schedule VII of the Companies Act, 2013 (the “Act”) to include certain other activities which Companies may undertake in their Corporate Social Responsibility activities.
Some of the included activities are contributions to:
- Research and development projects in the field of science, technology, engineering and medicine, funded by the Central Government or State Government or Public Sector Undertaking or any agency of the Central Government or State Government.
- Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH)
- National Laboratories and autonomous bodies established under Department of Atomic Energy (DAE) etc.
This notification is effective from 24 August 2020.
The notification can be accessed from here.