Jointly run tution centre

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 November 2014 I and my brother jointly run tution centre and annual income is around 700000 Kindly suggest a way to minimize our tax liabilities.

Should me divide total income between us and then should we file separate income tax return ?

Amol S Joglekar

Amol S Joglekar (Expert)
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10 November 2014 Ye you can do so. Better if you could bear 2 different names for their coaching classes........say Sunil Classes and Anil classes...or some thing on similar lines.

Querist : Anonymous

Querist : Anonymous (Querist)

10 November 2014 Sir , our coaching centre name is Aptitude Adda. Is there any problem if we continue with this name ?

According to you , we should change our classes name

Amol S Joglekar

Amol S Joglekar (Expert)
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10 November 2014 Not at all.....continue with the same name. My contention is there should be 2 trade names, one in the name of one brother and another in the name of another brother.

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