As a result of the COVID-19 pandemic, the Ministry of Finance released a statement on Friday about this matter, which announced a relaxation of the provisions listed in section 269st of the Income Tax Act for hospitals that provide treatment for COVID-19 patients. In this post, we will talk about hospitals that do not have to pay a penalty for their income tax. disclosure of the absence of a tax penalty on income For the purpose of receiving cash payments from patients that are equal to or more than two lakhs, the central government has made it easier for covid hospitals, clinics, nursing homes, and other similar institutions to collect income tax. This information was released in a notice that was issued by the Ministry of Finance on the announcement of a waiver for the covid care hospitals under section 269st of the Income Tax Act. On the other hand, the exemption for cash payment receipts is only applicable for the period beginning on April 1, 2021 and ending on May 31, 2021. In this regard, the Department of Revenue within the Ministry of Finance has issued a notification. The notification states that the central government, in the exercise of the powers granted by clause (iii) of the provision to section 269st of the Income Tax Act of 1961, hereby specifies hospitals, dispensaries, nursing homes, covid care centers, or similar other medical facilities that provide covid treatment to patients for the purpose of complying with the provisions of section 269st of the Income Tax Act of 1961 for payment obtained in cash between April 1, 2021 and May 31, 2021, on the basis of obtaining the pan or aadhaar of the patient and the payee, as well as the relationship between the patient and the payee by such hospitals, dispensaries, nursing homes, covid care centers, or similar other medical equipment. supplementary help from the federal government the income tax department also tweeted and remarked, “offering more relief in light of severe covid epidemic, provisions of section 269st of income-tax act, 1961 eased.” This was in addition to the central government notifying about the same thing. You should be aware that hospitals that receive cash from patients are exempt from paying income tax.
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