Quick Summary
The Central Board of Direct Taxes has grantedrelaxation of monetary limit u/s 269ST for cash payment above Rs 2.00 lakhs to Hospitals, Dispensaries, Nursing Homes, Covid Care Centres or similar other facilities providing Covid Treatment to patients during 1.4.2021 to 31.5.2021. Read the official notification below: MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 7th May, 2021 (INCOME-TAX) S.O. 1803(E).- The Central Government, in
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FAQ :
The CBDT has relaxed the monetary limit under Section 269ST for cash payments exceeding Rs. 2 lakhs to hospitals and other facilities providing COVID treatment.
Hospitals, dispensaries, nursing homes, Covid Care Centres, and similar medical facilities providing COVID treatment to patients are eligible.
This relaxation applies to cash payments received between 1st April 2021 and 31st May 2021.
Yes, the medical facilities must obtain the PAN or Aadhaar of the patient and the payee, and record the relationship between them.
Section 269ST of the Income-tax Act, 1961, generally prohibits receiving or accepting any loan or deposit or any sum of money exceeding Rs. 2 lakhs otherwise than by an account payee cheque or account payee bank draft or by use of electronic clearing system.
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