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Question

With reference to the PM CARES Fund, consider the following statements:

I. The amount collected by it directly goes to the Consolidated Fund of India.

II. It can avail donations from the foreign contribution and donations to fund can also avail 100% tax exemption.

Which of the above statements is/are correct?

A I only Correct Answer Incorrect Answer
B II only Correct Answer Incorrect Answer
C Both I and II Correct Answer Incorrect Answer
D Neither I nor II Correct Answer Incorrect Answer

Solution

The correct answer is II only. According to the latest Findings, 64 per cent of the Rs 10,990 crore collected by the PM CARES Fund between March 27, 2020, and March 31, 2021, remained unused as of the latter date.

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