IT norms eased: Govt permits cash payment of over Rs 2 lakh for COVID-19 Treatment at hospitals
New Delhi: The Income Tax Department has issued a notification allowing hospitals and nursing homes to accept cash payments of Rs 2 lakh and more for the treatment of COVID-19 patients. The Central Board of Direct Taxes (CBDT), which frames policy for the department, issued the notification on Friday.
It said hospitals, dispensaries, nursing homes, COVID care centres or similar other medical facilities providing COVID-19 treatment to patients are being "specified for the purpose of section 269ST of the Income Tax Act".
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This section restricts any person from receiving an amount of Rs 2 lakh or more in cash, from a person in a day, in respect of a single transaction or in respect of transactions relating to one event or occasion from a person.
It was introduced by the Union government in 2017 as a measure to curb black money.
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