Any person can make a donation to the PM CARES Fund (Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund) to contribute towards the relief work for the Coronavirus pandemic. The donations made to the fund can be claimed as a tax deduction under section 80G of the Income Tax Act, 1961.
1. How to make a donation to PM CARES Fund
- Visit the website pmindia.gov.in.. The website provides the details of the bank account and the UPI for making the donations:
Name of the Account : PM CARES
Account Number : 2121PM20202 IFSC Code : SBIN0000691
SWIFT Code : SBININBB104
Name of Bank and Branch : State Bank of India, New Delhi Main Branch
UPI ID : pmcares@sbi
The website pmindia.gov.in. also provides the QR code to scan and pay through the BHIM UPI App.
- The donation can be made in any of the following modes:
- Debit Cards and Credit Cards
- Internet Banking
- UPI (BHIM, PhonePe, Amazon Pay, Google Pay, PayTM, Mobikwik, etc.)
In case you choose to click on the link ‘Click here for online donation’, the link takes you to the SBI’s website
After accepting the terms and conditions, click on ‘Proceed’ to go to the next page:
Choose ‘Donation’ and fill in the details like name, address, PAN, country, nationality, e-mail ID, phone number and amount of donation on the next page as below:
A confirmation screen will appear as below:
Next step requires you to choose the mode of payment:
If you choose ‘Other Banks Internet Banking’, then the next screen displays the list of banks to choose the bank for making payment:
Next screen takes to the login page of the bank selected, and for making the payment. The screen below appears after making the payment.
The donation receipt is shown below:
The 80G receipt for PM CARES Fund is generated under the ‘Print Receipt’ tab on the website https://pmcares.gov.in/en/. You have to provide your mobile number and transaction order number, and key in the OTP that is sent on your mobile number. An 80G receipt is generated as shown below:
Payment facility provided by other banks:
Various banks such as ICICI Bank, HDFC Bank, Axis Bank and so on have received the mandate to collect funds for the PM CARES Fund. For example, ICICI Bank has designated a bank account for collecting donations:
The details required for making the payment are the same as required in the method shown above. However, the payment gateway does not support payment through all the banks except SBI. Hence, it is advisable to make the payment through the website pmindia.gov.in.
2. How to claim a deduction for donation made to PM CARES Fund
The government has allowed for a 100% tax deduction under section 80G for the donations made to the PM CARES Fund. In case of donations made from 1 April 2020 until 30 June 2020, taxpayers also have an option to claim the deduction for the FY 2019-20. However, do note that the deduction for donation can be claimed only once. A taxpayer who claims a deduction in FY 2019-20 cannot claim in FY 2020-21.
For the FY 2020-21, an individual or HUF making the donation can also claim deduction under the new optional tax regime. Once a deduction is claimed under section 80G for a particular financial year, it cannot be claimed again under any other provision of the income tax law for any other purposes.
In the case of corporates making donations to the PM CARES Fund, the donations will also qualify as eligible expenditure under the Corporate Social Responsibility (CSR) spending mandated for Companies registered under Companies Act, 2013.
3. Who can donate to PM CARES Fund
Any person such as an individual, any firm, company or any other person can make a donation to the PM CARES Fund. Any amount of donation can be made starting from as low as Rs 10. The donation has to be made electronically or through UPI. The fund is constituted to enable donations from all the sections of the society.
The PM CARES Fund will not be allotted funds from the government’s budget, but will entirely consist of voluntary contributions from the public. Hence, the spending from the fund will not require approval from the Parliament.
4. What is PM CARES Fund
The PM CARES Fund is set up as a public charitable trust under the chairmanship of the Prime Minister of India. The members of the fund include the Finance Minister, Home Minister and the Defence Minister. The PM CARES Fund is meant to provide relief, support or assistance of any kind towards any public health emergency or any other type of emergency, distress or calamity. The fund will also financially assist in the development of healthcare facilities or any other necessary infrastructure for the public.