Giving effect to sec.5a in itr4s

[Asked by Guest]

how to show half share of spouse i.e.sec 5a in itr4sugam?

SAY FOR EXAMPLE A ASSESSEE HAS A GROSS RECIPTS OF BUSINESS AS            2500000.
SO, IN FORM ITR4 SUGAM IT WILL APPEAR AS BELOW.

SCHEDULE BP
E1- GROSS RECEIPTS FROM bUSINESS                       2500000
E2- SEC 44AD 8%                                                                    200000
E5- NIL
E6- (E2+E5)                                                                               200000

PART B
B1- INCOME FROM BUSINESS                                             200000
(enter val from E6)
B2- NIL
B3- NIL
B4- NIL

B5-GROSS T.INCOME(B1+B2+B3+B4)                                 200000

IN THE ABOVE EXAMPLE HALF SHARE COMES TO 100000 ,NOW WHERE TO SHOW THIS 100000 IN ITR4SUGAM?

DO WE HAVE TO MAKE HALF SHARE OF GROSS RECEIPTS?

pLS REPLY

[CAGOPALJI AGRAWAL]

Please clarify whether you are carrying business as partnership or as joint venture? In what status are you regd with VAT authorities.

ps read sec. 5A  of Income Tax Act.

its about apportionment of income between spouses

for effilling ur returns contact -9823987837 (service available only in Goa)

AI Summary

Apportionment of income between spouses: reporting spouse's half share in ITR 4 Sugam under sec 5A guidance requested.
Apportionment of income between spouses under sec.5A is questioned for ITR 4 Sugam reporting. Example: gross receipts 2,500,000 with presumptive income at 8% equals 200,000, yielding a spouse's half share of 100,000; the taxpayer asks whether to split gross receipts or allocate the computed presumptive income and where to show the 100,000 in ITR 4 Sugam. Respondents request clarification on business form (partnership or joint venture) and VAT registration and refer to sec.5A but give no definitive filing guidance.