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 Income tax penalty and extra payment

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cherroy
post Dec 21 2010, 03:13 PM

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QUOTE(Robin Liew @ Dec 21 2010, 12:04 PM)
i kena i kena

penalty rm2k++ sad.gif and extra tax rm5k++

all 7k++ must pay
why so high?

yes i made some mistake during the submission.... but the extra ...sad.gif

i have receive a refund earlier rm5k like that

but the new calculation seems they never deduct some claims too like housing loan interest and pc rebate sad.gif

anyone else kena?
*
That's why don't play play with submission.
If not sure about the relief claimed, then ask.
Don't simply put in the relief you are never sure about it.

There is only got PC relief, no rebate, and can only claim once every 2 years, and applicable for whole set of computer, hardware separately is not claimable.


cherroy
post Dec 21 2010, 03:58 PM

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QUOTE(Robin Liew @ Dec 21 2010, 03:30 PM)
sad.gif

so those of you out there earning more than rm100k, how much tax can save?

so high ler tax sad.gif
*
Not that high lar.
Personal relief 9k (everyone has), EPF + Insurance 6K (mostly have, if you earn 100K, then mostly you will max out 6k)
15K relief entitled already.

So if your income is 100K, taxable income is 85k.
Tax need to be paid 7,125 + (15k x 24%) = 10,725

10,725/100K, only about 10%.

Not yet counting, other relief.

High income, then pay high tax.
I wish I can pay more tax every year, not the other way round. tongue.gif

This post has been edited by cherroy: Dec 21 2010, 03:59 PM
cherroy
post Jan 25 2011, 03:32 PM

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QUOTE(JamesPond @ Jan 25 2011, 02:12 PM)
hasil call me and clarify my income tax problem...
my mistake was:-
claim pc every year..
put medical insurance 3k instead of life insurance
calculated home loan interest extra from the year 2009. i calculated until 2010 march.
pay for mother medical bills 5k but lost the receipt.

they ask for 45% penalty. Can I ask for a waiver? This is the 1st time they call me for the clarification.
*
I don't think so.

It is very clear and most people knew computer relief only can claim once for every 3 years and amount cannot exceed Rm3k.

Still you can appeal, but don't think will have any waiver, as this is a straight forward.

QUOTE(tchtax @ Jan 25 2011, 02:29 PM)
I think its very unfair for the public to know tax laws. and yet kena penalise for it for making  "honest" mistakes. I guess IRB hope that you make that mistake and penalise you kao kao for it. Actually can argue because they have to prove that you had intentionally try to evade tax. Maybe the other experts in here have an opinion on this
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When you start paying tax, it is your responsibility to know the tax issue.
Do not claim relief, that you don't know or unsure of.

A mistake, is a mistake.
Law has been written clearly, it is self assessed and responsible for the relief you claimed.
It is your duty to make sure what you submitted is correct.

cherroy
post Jan 25 2011, 03:59 PM

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QUOTE(JamesPond @ Jan 25 2011, 03:44 PM)
very sad on this..work so hard, cant even get a good living and some more need to pay 45% penalty...
*
That's why I always reiterated, if you not 100% sure on the relief, do not claim.

Always be sure about the relief or rebate. It is not a rocket science.
If not sure, ask.

Just like people now want to claim Ipad as computer relief, but I always advise, please ask IRB about this issue first, before you make a computer relief claim based on Ipad.
As this is not 100% clear whether Ipad is classified as computer or not.



 

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