Me and my wife develop mobile apps and games. We receive payments from Google and Amazon for the app sales and ad revenue to my wife's account, which is a normal savings account. This year when we filed our income tax, we showed all the revenue under my wife's income. She had to pay income tax whereas I did not. We operate like a partnership with 50-50 stake, but we do not have any partnership agreement. My query is whether we can split and show the revenue received in my wife's account amongst the two of us, in order to reduce tax. Or is there any legal or other formalities involved. Thank you.
CAclubindia
