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 Income Tax Issues

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munkeyflo
post Apr 4 2011, 12:19 AM

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QUOTE(green_apple @ Apr 4 2011, 12:12 AM)
noob question: If no scanner then how??    icon_question.gif
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Get someone to scan it for you?
munkeyflo
post Apr 6 2011, 09:06 PM

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QUOTE(ronnie @ Apr 5 2011, 11:10 AM)
People are getting their refunds via cheque or direct bank-in already for those early bird users of E-Filling.
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Do I need to do anything for them to refund? All these while I thought it can be credited into the following year. doh.gif This is my first time with overpaid tax.
Oh and I used e-filling. Did it last month around 2nd week of march.

QUOTE(takr @ Apr 5 2011, 04:31 PM)
Rental income need to declare right? What if the property is shared with 2 person, e.g. the property under myself and wife's name, and financed under both our names..

How to declare? Can split 50-50 or declare under single person name??
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My parents is exactly the same scenario. When I do the income tax for them, I get the total rental income for the year and deduct all the expenses for the year. Then the net income divide it by two. Type it nicely, print it and keep it for file.

This post has been edited by munkeyflo: Apr 6 2011, 09:07 PM
munkeyflo
post Apr 8 2011, 07:04 AM

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QUOTE(zenwell @ Apr 7 2011, 04:02 PM)
I also put in my bank account details. I thought they wil bank-in direct. they still sent me a cheque. Submit on 19 Mar, got my cheque on 06 April. Kinda fast.
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I see. I haven't got anything yet. Will wait for their cheque then.
munkeyflo
post Apr 10 2011, 11:03 AM

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I've received a letter from LHDN saying my refund under semakan also. sad.gif
munkeyflo
post Apr 10 2011, 07:36 PM

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QUOTE(Shinichi @ Apr 10 2011, 01:35 PM)
I received this last year, end up never get any refund and I need to call them to check the status, then starts all the hassle of need show them receipts and proofs... until now still have not got back my refund for last year... vmad.gif
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Oh wow. But the letter that I've receive say that if I don't hear from them in 3 months, I should call them up and ask about it.
What did they say when you call them? Why some people get their refunds so fast wan... sad.gif

QUOTE(Scissorshand @ Apr 10 2011, 04:42 PM)
Btw wanna ask, is Transport Allowance exempted from tax? If so, what's the max allowable? Thanks!
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I don't think so. Have never seen that in the BE form.
munkeyflo
post Apr 19 2011, 03:01 AM

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QUOTE(jade.dharma @ Apr 18 2011, 08:19 PM)
my scenario: apartment rental starts from 15/11/2010.

therefore, would it be right I if I calculate my rental income for the YR2010 as below?

Gross rental income = rental for Nov + Dec 2010
minus the followings:
1. home loan interest from Nov + Dec 2010
2. quit rent for Year 2010
3. assessment for Year 2010 - please advice if I can claim in full or divide the annual total amount by 12 and multiply by 2 (to count in the 2 months rental that I have received for 2010)?

thank you,
Jade
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I think it would be appropriate to less off only the 2 months from your total assessment.
However, I may be wrong. I'm not sure about that.
munkeyflo
post Apr 19 2011, 08:18 AM

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QUOTE(Nepo @ Apr 19 2011, 08:03 AM)
Hi,

I m new in e-filing, now I m using e-filing for my tax. After compute, it seem that I need to pay tax on my income. So, I pay my tax via Public bank using PBB-IRB bank-in-slip together with CP 501. My question is do I need to send a copy of bank-in-slip to IRB to prove the payment via courier/mail since I had submited my Borong BE via internet.
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Don't think so. I'm pretty sure you just need to keep your bank in slip.
munkeyflo
post May 12 2011, 08:28 PM

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QUOTE(500Kmission @ Apr 29 2011, 12:46 AM)
10% penalty on tax balance. However, if you submit with the manual form, you have 7 days extention (pls double check with officer).

Remember, a futher 5% penalty will be imposed on any balance remaining unpaid after 60 days (i.e. you better submit tax return and pay tax balance with 10% penalty within 60 days after the due date).
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Does this mean that we have to submit and pay our tax before 30th April?
If I bank in the cheque after 30th April means I have to add 10% to the tax I need to pay? And after 60 days then another 5% on top of it?
munkeyflo
post May 13 2011, 06:25 PM

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QUOTE(500Kmission @ May 13 2011, 11:06 AM)
Please ask income tax officer. If you follow the income tax act, yes, you are automatically get 10% penalty. Please confirm it before 60 days, because income tax officer wont let you know before penalty grow large amount.
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Errr. I've submitted my income tax way before the 30th of April. Just that the cheque I haven't bank in until a few hours ago as I was not able to bank in the cheque in the past few weeks.
So I bank in the cheque for the amount that I submitted in my income tax. Guess they will still fine me if according to the law.
munkeyflo
post May 17 2011, 10:55 PM

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QUOTE(rain55 @ May 17 2011, 06:12 PM)
how do we send the borang BE? with post office normal mailing?but i didnt hav the envelope because i collect the borang be from the branch, or we must attend to pandan indah directly pass the borang be?
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I think you can just use any envelop will be fine. As long as you have the right address on it.
One way is to submit it directly to LHDN office.

Try using e-Filling next time. Easy and more convenient.
munkeyflo
post May 20 2011, 01:14 PM

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QUOTE(zenwell @ May 20 2011, 10:32 AM)
can we claim income tax deduction when we donate to charity not in the form of cash? example: I spend rm1000 to buy all the daily stuff and donate to a few charity, how do i claim income tax?
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You'll have to get the receipt from them. If I'm not mistaken, only certain charity donation can be exempted from tax. They'll mail you the receipt that states that it's for income tax purposes.
munkeyflo
post May 20 2011, 09:57 PM

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QUOTE(cute_boboi @ May 20 2011, 03:57 PM)
It's subjective, depending on the individual and the organisation, the people or network you know, whether they willing to help or not, to provide you the receipt. Or you may want to ask first before donating, tell them frankly you want the receipt for tax purpose.

Also, you must ask/check if the organisation is under the approved list or not. Otherwise, they give you Popular-receipt, you can't use it for tax claim purpose also.  doh.gif
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Yea that's true.
Normal written cash receipt won't be of much use at all.

I think it would be hard to calculate in monetary terms of goods donated. The receipt has to be from the charity foundation itself, not from the store you bought it.
munkeyflo
post May 30 2011, 05:41 PM

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QUOTE(patricktoh @ May 27 2011, 08:46 PM)
MCH! Called to Income Tax enquire why still no refund after 2 months. They asked me bring receipts, proof of purchases to nearest office minum kopi.
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Did they send you a letter to say that your refund is in process?
They send me a letter saying that and ask me to call back if by 3 months still no news from them.
munkeyflo
post May 31 2011, 12:51 PM

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QUOTE(patricktoh @ May 31 2011, 12:44 AM)
They sent me letter indicating "semakan" (audit) in mid Apr.  I declared housing loan interest 10k tax relief because bought house in Aug-2009 and 1st instalment on 3-Jan-2010. Monthly interest is ~1.1k. That save me about 2.4k because I am in 24% bracket.
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If you have all the relevant receipts then I don't see any harm showing it to them to get back your refund.

That's what I'll be doing anyway, cause it does not seem like they will refund without showing them anything. Haven't heard from them since the letter they send, in mid April also.
munkeyflo
post May 31 2011, 11:48 PM

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QUOTE(patricktoh @ May 31 2011, 10:55 PM)
My point is inform us earlier rather than chasing them.
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Ooh. It's like that wan la. Everything in this country is like that. Duh.
In the letter that they've send to me, it states that if I don't hear from them in 3 months, then only I should call them up to ask about it. So yea, that's what I'm gonna do. smile.gif
munkeyflo
post Jun 1 2011, 01:50 PM

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QUOTE(leongal @ Jun 1 2011, 08:06 AM)
i got the same letter. later on, after a month, they send me another letter saying that i am being audited, asked me to show proof of purchase of home and loan statement - for the tax relief on housing loan interest - i courier to them.....

now still waiting for them...

i have no fear, because i did NOT cheat!
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Same here. No fear haha. But still waiting for their letter that it's being audited.

QUOTE(whilly @ Jun 1 2011, 10:43 AM)
Insurans nyawa dan KWSP (Terhad 6,000)
Insurans pendidikan dan perubatan

Can claim the above for parents/children if one is paying for them?
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I think as long as you can show them the prove that you are paying for it then can.
munkeyflo
post Jun 2 2011, 10:47 AM

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Yea their letter is always a hassle to read it. Have to read few times and very carefully cause I don't wanna misunderstand anything. -.-

Mine wasn't about housing loan. Just that for the past few years always have been paying tax and this year overpaid because of the PCB. Haha.
munkeyflo
post Jun 2 2011, 06:19 PM

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QUOTE(leongal @ Jun 2 2011, 12:46 PM)
oh....they will probably ask for your EA form then....good luck!
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Haha. Thanks. Hopefully everything goes well and can get refund soon. smile.gif

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