Why you should avoid cash in these transactions1 min read 14 May 2021, 05:38 PM IST
While the I-T department has allowed a ₹2 lakh limit on cash payment at hospitals, such transactions have lower and stricter ceilings when it comes to payments for property, business expenses and tax saving instruments
MUMBAI: Recently, the income tax department relaxed cash norms for covid-19 treatment. It issued a notification allowing patients, their families and friends to pay ₹2 lakh or more in cash at hospitals between 1 April and 30 May. The hospital should take a copy of the Aadhaar and PAN details of the patient and the person giving the money. They need to state their relationship.
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