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    Home » Income tax rules eased, now you can pay Rs 2 lakh+ in cash for Covid treatment
    ECONOMY

    Income tax rules eased, now you can pay Rs 2 lakh+ in cash for Covid treatment

    AdminBy AdminMay 8, 2021No Comments2 Mins Read
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    The government on Friday allowed hospitals, dispensaries and COVID-19 care centres to accept cash payments in excess of Rs 2 lakh from patients or their kin till May 31. The Central Board of Direct Taxes (CBDT) issued a notification saying such entities would be required to obtain PAN or Aadhaar of the patient and the payee and also the relationship between them.

    “The Central Government …. hereby specifies Hospitals, Dispensaries, Nursing Homes, Covid Care Centres or similar other medical facilities providing Covid treatment to patients for the purpose of Section 269ST of the Income-tax Act,1961 for payment received in cash during April 1, 2021, to May 31, 2021, on obtaining the PAN or AADHAAR of the patient and the payee and the relationship between the patient and the payee…,” the CBDT said.

    Nangia & Co LLP Partner Shailesh Kumar said in the present situation, various hospitals/ nursing homes have been demanding payment in cash for treatment of COVID-19. However, income tax law does not permit cash payments beyond Rs 2 lakh as per Section 269ST.

    “Considering the extraordinary pandemic situation, where saving life of people is most important, considering the genuine hardship of people, the Government has issued present notification allowing people to make cash payment for treatment of COVID even beyond this limit.

    “The notification is applicable for all cash payments made on/ after 1st April 2021 till 31st May 2021,” Kumar added.

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