Amount can collect as cash

527 views 22 replies

As per present income tax rules, maximum amount can collect as cash Rs.2 Lakhs? Is it applicable for Hospitals ? It is per day or one bill? For Eg. One patient has admitted in a hospital for 6 days & his bill amount was 3 Lakhs? Can he pay Rs.50,000/- each as cash for 6 days?

Replies (22)

" Is it applicable for Hospitals?"

YES.

"It is per day or one bill?"

Per day, for aggregate of bills &/or receipts.

For Eg. One patient has admitted in a hospital for 6 days & his bill amount was 3 Lakhs? Can he pay Rs.50,000/- each as cash for 6 days?

Being single event, section 269ST will be applicable. So, even if paid separately as suggested, penalty will be attracted over hospital (receiver)

What is the below mentioned section?

Cash payment exceeding 20000 section 40a(3)(a)
 

Section 40A(3) is applicable to revenue expenditures for persons having income from PGBP, but not over personal expenditures.

As per section 40A(3) w.e.f 2009-10, where the assessee incurs any expenditure in respect of which a payment or aggregate of payments made to a person in a day, otherwise than account payee cheque or account payee bank draft, exceeds Rs 20000, no deduction shall be allowed in respect of such expenditure.  

Read more at: https://www.caclubindia.com/articles/expenses-disallowed-under-section-40a-3-and-40a-3a--8806.asp

If a patient having a medical insurance & his bill amount was Rs.3 Lakhs . As per GST rule, if bill amount is more than 2.5 Lakhs, have to provide the details of the transaction in GSTR-1. In this case whose details has to provide, Patient details or insurance companies details?

 

Patient's detail........ unless invoice issued with insurer's GSTIN.

Dear Sir,

If same company having different branches in different states & some braches having a taxable turn over & some braches don't have that much turn over. Is it possible to take composition scheme for braches dont have regular tax payable turn over?

 

NO

 

Dear Sir,

What are the data we have to fill in GSTR-1 for nil return(we have to file nil return)? When  i tried to submit the GSTR 1, a msg is coming like"Error! You have no summary to submit GSTR1". Please advise

 

Dear Sir,

Room rent for admitted patient in Hospital is more than 1000/-,is GST applicable for the same?

 

 
Room rent for admitted patient in Hospital is more than 1000/-,is GST applicable for the same?

 

GST not applicable over room rent charged by hospitals during the course of health treatment.

Dear Sir,

 

What is the purpose to take more than one registration in same state?

 

To maintain separate records for different business verticals......

Is it mandatory?


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register