CBDT exempts hospitals etc. providing Covid treatment from receiving cash in excess of Rs. 2 lakhs limit u/s 269ST for the period from 01.04.2021 to 31.05.2021 on obtaining the PAN or AADHAAR of patient and payee
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 56/2021
New Delhi, the 7th May, 2021
(INCOME-TAX)
S.O.1803(E).—The Central Government, in exercise of powers conferred by clause (iii) of Proviso to Section 269ST of the Income-tax Act, 1961, hereby specifies Hospitals, Dispensaries, Nursing Homes, Covid Care Centres or similar other medical facilities providing Covid treatment to patients for the purpose of Section 269ST of the 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.
[F.No. 225/58/2021-ITA.II]
PRAJNA PARAMITA, Director
Download Notification Click Here >>
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
CORRIGENDUM
Notification No. 59/2021
New Delhi, the 10th May, 2021
(INCOME-TAX)
S.O. 1839(E).—In the Notification of the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, published on 7th May,2021, vide S.O. 1803(E), in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), “payee” is to be read as “payer”.
[F. No. 225/58/2021-ITA.-II]
PRAJNA PARAMITA, Director
ABCAUS Note: Section 269ST of the Income Tax Act 1961 puts a limit of less than Rs. 2 lakhs on cash transactions. In the event of contravention of the section, a penalty u/s 271DA has been provided equal to the amount of such transaction.
- AO not justified in rejecting registered valuer’s report without reference to DVO – ITAT
- FCRA specifies list of 105 purposes to be selected for which registration is applied
- Withholding tax u/s 40(a)(i) not required on cost-to-cost reimbursement made to parent company
- Temporarily blocking public access to Telegram App not disproportionate – Delhi High Court
- High Court explains the meaning of term ‘enterprise’ appearing in section 80IA
