it assessess maintained a private hospital including pharmacy store doubt: assessess cash mode receipts and digital mode receipts (Google pay and paytam) limit per day received from patient for hospital and pharmacy store in it act.
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Quick Summary
This discussion clarifies the daily limits for cash and digital receipts in private hospitals and pharmacies, particularly concerning Section 269ST of the IT Act. It highlights that cash transactions are limited to below Rs. 2 lakh per person per day, while digital transactions have no such limit. The content also details the specific wording of Section 269ST regarding aggregate amounts, single transactions, and related events, along with its exceptions.
The provision of section 269ST" No person shall receive an amount of two lakh rupees or more-
(a) in aggregate from a person in a day; or
(b) in respect of a single transaction; or
(c) in respect of transactions relating to one event or occasion from a person,
otherwise than by an account payee cheque or an account payee bank draft or use of electronic clearing system through a bank account.
Provided that the provisions of this section shall not apply to-
(i) any receipt by-
(a) Government;
(b) any banking company, post office savings bank or co-operative bank;
(ii) transactions of the nature referred to in section 269SS;
(iii) such other persons or class of persons or receipts, which the Central Government may, by notification in the Official Gazette, specify.