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Question : As per law above ?20000 cash dealing is not permitted .then why how hospitals take payment. I'm cash.in thousands & lakhs?
Subject : Cash payment
Answer By Lawyer : Under the IT Act it is not permitted to accept cash payment of Rs.2,00,000/- & above .They will be answerable & penal clause of IT Act will be enfourced.
Question : As per law above ?20000 cash dealing is not permitted .then why how hospitals take payment. I'm cash.in thousands & lakhs?
Subject : Cash payment
Answer By Lawyer : Certainly however it all depends between mutual agreement of parties i.e. how much, what route, quantum etc. considered before doing such transactions and all related to tax payment aspects also.
