Dear Sirs,
Sole Proprietory business of Husband is transferred to Wife on 1st January 2014. That means, the entire business was run by the Husband for 9 Months and the Wife for 3 Months, Both Husband and Wife prepared respective P&L Accounts for the FY 2013-14 showing proportionate Depreciation on Assests transferred, i.e., 75:25 .
Is there any scope of showing Depreciation in the above ratios ( 75:25) in ITR -4 ?
In sheet 'DPM DOA' in the ITR-4, the options available , " Additions for more than 180 days/ less than 180 days.
Although, the Husband operated the business for Nine(9) months, is he entitled to get 50% and the balance for his wife.
I shall be highly obliged, if some light is thrown on the above issue.
CAclubindia
