Quick Summary
The news article published in Business Standard today, with the headline 'IT goes after hospitals over unaccounted cash' is unsubstantiated.
The Finance Ministry has not issued any directive to CBDT in this regard. Further, unlike as reported, the CBDT has not come out with any Circular where hospitals need to disclose the cash they receive to the IT Department.
Unlike, as alleged in the report, CBDT has acted to facilitate patients during this pandemic. Provisions of section 269ST of IT Act have been relaxed to allow cash payments of more than Rs. 2 lakh to hospitals for Covid treatment if the PAN or Aadhaar of the payer is provided
FAQ :
No, the CBDT has clarified that no such directive or circular has been issued to hospitals requiring them to disclose cash received to the IT Department.
No, the Finance Ministry has stated that the news report is unsubstantiated and that no directive has been issued to the CBDT in this regard.
The CBDT has relaxed provisions of Section 269ST of the IT Act to allow cash payments exceeding Rs. 2 lakh for COVID treatment, provided the payer's PAN or Aadhaar is submitted.
Cash payments of more than Rs. 2 lakh for COVID treatment are permitted if the payer's PAN or Aadhaar is provided. This is a relaxation of previous rules.
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