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Running a medical shop in a Pharmacists name
My uncle is running a medical shop. Since he is not a pharmacist, he has employed a pharmacist to run the shop for a salary. But the medicines from the pharma companies are issued in the name of the pharmacist. The gross turnover per year is about 30 lakhs. The shop owner, my uncle is filing itr 4 u/s 44ad. Is this legally wrong? If there is scrutiny the medicine bills are in the name of the pharmacist, hence will there be a problem ?
Replies (5)
Do you have Shop license?
Do you pay the bills from bank account of the shop?
Have you GSTIN in the name of proprietor?
All the requirements can be fulfilled subject to norms.
License is in pharmacists name
Not registered for GST as the turnover is less than the limit
No shop bank account opened, bills are paid either by cash or through the owners account
Not registered for GST as the turnover is less than the limit
No shop bank account opened, bills are paid either by cash or through the owners account
You need to streamline license to bank account in propritor's name, to declare the income as well as business in your uncle's name.
Running a medical shop in own name
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