Revenue share in partnership

Either of you can lead a proprietor ship firm. The proprietor can give salary to other. 

One will file under ITR-4  and the salaried person under  ITR-1/2/2A. Prop firm can obtain TAN no  and deduct TCS from salaried person. 

This is what i think. other  experts also give some suggestions. 

Thank you for the quick reply. We would like to remain as a partnership with us being equal share partners as we don't intend to expand it as a business. This concluded financial year, my wife filed ITR 4 for the full income. My question is specifically regarding whether it is ok to have all the revenue come to one bank account in her name, while the two of us considers it as say each receiving 50% of the revenue for tax purposes.

She has to transfer amt from her acc to ur acc.  

A CA will tell you whether a partnership firm needs to be registered.

Both of you are self employed professionals in true sense.

It is not mandatory to get a partnership firm registered. You can continue business anyways also. But it is advisable that you get the firm registered which will help you in other legal matters as well in future. Also, you should show your income in both of your accounts as share of profit so that both of you together can claim maximum benefit of taxes.