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Government relaxes Income Tax norms for hospitals providing COVID treatment
In view of COVID-19, the government has relaxed the provisions of the Income-tax Act. Now, all hospitals, nursing units, dispensaries and COVID care centres will be able to accept cash over two lakh rupees from the patients
In view of COVID-19, the government has relaxed the provisions of the Income-tax Act. Now, all hospitals, nursing units, dispensaries and COVID care centres will be able to accept cash over two lakh rupees from the patients. The patient and the payee will have to submit PAN and Aadhaar for such payments. The relaxation has been granted between April 1, 2021, and May 31, 2021.
The Ministry of Finance issued a notification in this regard on Friday announcing relaxation for the COVID Care hospitals in Section 269ST of the Income Tax Act. But, the exemption for cash payment receipt is for the period of April 1, 2021, to May 31, 2021, only.
Indian Tax Department in a tweet said, "Granting further relief in view of severe COVID pandemic, provisions of section 269ST of Income-tax Act, 1961 relaxed by the Central Govt. Allows Hospitals/Medical facilities etc providing COVID treatment to patients to receive cash payments of Rs. 2 lakh or more," adding, "Relaxation granted for the period 01.04.2021 to 31.05.2021, after obtaining PAN or AADHAAR of patient & the payer."
The Department of Revenue at the Ministry of Finance issued a notification in this regard and said, "The central government, in the exercise of powers conferred by clause (iii) of Provision to Section 269ST of the Income-tax Act, 1961, hereby specifies hospitals, dispensaries, nursing homes, COVID Care Centre or similar other medical facilities providing COVID treatment to patients for the purpose of Section 269ST of Income-tax Act, 1961 for payment received in cash during 01.04.2021 to 31.05.2021, on obtaining the PAN or Aadhaar of the patient and the payee and the relationship between the patient and the payee by such hospitals, dispensaries, nursing homes, COVID Care Centres or similar other medical facilities."
