20-April-2024
Taxation
 
Government allows hospitals, COVID care centres to accept cash payments of over Rs 2 lakh
08-May-2021

The government has allowed hospitals to accept cash payment in excess of 2 lakh. Exemption, applicable for a period between April 1-May 31, 2021, would be subject to providing the permanent account number or Aadhar number of the patient or of any other person making the payment on behalf of the patient and his relationship with the patient. At present hospitals are allowed to accept cash payments up to 2 lakh under the Income Tax law. The Central Board of Direct Taxes, the apex direct taxes body, issued a notification to this effect Friday. The move comes following representations to this effect from multiple fora including tax practitioners. Exemption would be available to nursing homes and other covid care facilities. India is currently battling a raging second wave of Covid 19 infections

News Source:- https://economictimes.indiatimes.com/news/india/government-allows-hospitals-covid-care-centres-to-accept-cash-payments-of-over-rs-2-lakh/articleshow/82466933.cms