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More funds for Covid-related R&D – Home Health Choices

  • The authorities has amended the company social accountability (CSR) guidelines to incorporate Covid-19 associated analysis and improvement (R&D) expenditure on new vaccines, medication and gadgets.
  • Companies can now declare such bills underneath CSR if the analysis is in collaboration with a publicly-funded establishment.
  • The CSR regulation mandates firms with web value of Rs 500 crore and above, or with income of Rs 1,000 crore and above, to spend 2% of the common income of the earlier three years on CSR tasks.
  • Till now expenditure incurred by firms on actions to pursue the ‘regular course’ of their enterprise isn’t counted as CSR expenditure. Hence, a pharma firm couldn’t fund pharma R&D underneath CSR exercise until now.

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