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May 11, 2021

CBDT clarifies No Direction given to Hospitals to disclose Cash Receipts

by CA Shivam Jaiswal in Income Tax

CBDT clarifies No Direction given to Hospital to disclose Cash Receipts

Below news article published in Business Standard today.

1. The news article published in Business Standard @bsindia today, with the headline ‘IT goes after hospitals over unaccounted cash’ is unsubstantiated.

2. The Finance Ministry has not issued any directive to CBDT in this regard. Further, unlike as reported, the CBDT has not come out with any Circular where hospitals need to disclose the cash they receive to the IT Department.

3.. Unlike, as alleged in the report, CBDT has acted to facilitate patients during this pandemic. Provisions of section 269ST of IT Act have been relaxed to allow cash payments of more than Rs. 2 lakh to hospitals for Covid treatment if the PAN or Aadhaar of the payer is provided.

Clarification of Income Tax Department

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