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Income certificate

Querist : Anonymous (Querist) 02 August 2021 This query is : Resolved 
Respected Experts
My query is that my father does medical business along with his 4 brothers in the shop that is on the name of my grand mother.
I have applied for income certificate in which i have opted income from other sources, as the shop is not on my fathers name .
Is it ok.
Dr J C Vashista (Expert) 03 August 2021
The income generated from the business is being distributed to all brothers including your father, hence it shall be calculated as income from business and profession for the purposes of income tax as well as other purposes.
P. Venu (Expert) 03 August 2021
Prima facie, there need not be any problem or objection.


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