Hi Shreyanka,
The income cum caste certificate is necessary for applying scholarships, jobs and many other fields. Usually, an income certificate validity is for one financial year. For example, a financial year starts in June 2019 and ends in May 2020, so income certificate taken in this period has its validity up to May 2020.
So it is better to update the income certificate as your parent's income has increased and to avoid any rejections.
Hope you get it. Thank you.

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