Paytm to contribute Rs 500 crore for PM CARES Fund


New Delhi, Mar 29 (IANS): To support the fight against COVID-19 pandemic, India's leading digital payments and financial services platform Paytm on Sunday said it is aiming to contribute Rs 500 crore to the PM CARES Fund.

Urging users to do their bit in the fight against Covid-19, the company said that for every contribution or any other payment made on Paytm using the wallet, UPI and Paytm Bank debit card, the company will contribute an extra up to Rs 10.

"We are honoured to do our duty to aid the government in all the relief measures being taken to fight the Corona pandemic. We hope our users wholeheartedly donate to PM CARES fund and help save lives," Madhur Deora, President - Paytm, said in a statement.

"We will also contribute up to Rs 10 for every payment transaction using the Paytm app and instruments. This money would be directly sent to the PM-CARES fund. Paytm commits to doing everything in its power to support the efforts of our government in coming out of this crisis," Deora said.

Over the last few weeks, Paytm has launched several initiatives to fight the spread of the novel coronavirus. It has started collecting contributions to buy personal hygiene products for people who might not have the means to buy it.

Also, the company has created a Rs 5 crore fund for innovators who are developing medical instruments or medicines to combat the virus.

The PM CARES Fund is exempt under the Income Tax Act, 1961 under Section 10 and 139 for return purposes. Contributions towards PM-CARES are notified for 100 per cent deduction from taxable income under section 80(G) of the Income Tax Act, 1961.

 

 

  

Top Stories


Leave a Comment

Title: Paytm to contribute Rs 500 crore for PM CARES Fund



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.