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 Income Tax Issues

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simplesmile
post Apr 11 2010, 06:51 PM

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Tolak : Jumlah tolakan/pelepasan cukai
(Pelepasan cukai seksyen 132 & 133 terhad kepada jumlah cukai yang dikenakan)
Less : Total tax deduction/relief (Section 132 & 133 tax relief restricted to total tax charged)

I do e-filing. I key in the Gross Dividend received, and the tax deducted from this Dividend. Funny thing is, this tax deducted appear under the line "Section 132 & 133". I thought it should appear under section 110? A search from the internet revealed that S 132 & 133 is related to Double Taxation. Is there something wrong with the e-filing?
simplesmile
post Apr 12 2010, 06:27 PM

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Anyone can help with my queries?

QUOTE(simplesmile @ Apr 11 2010, 06:51 PM)
Tolak : Jumlah tolakan/pelepasan cukai
(Pelepasan cukai seksyen 132 & 133 terhad kepada jumlah cukai yang dikenakan)
Less : Total tax deduction/relief (Section 132 & 133 tax relief restricted to total tax charged)

I do e-filing. I key in the Gross Dividend received, and the tax deducted from this Dividend. Funny thing is, this tax deducted appear under the line "Section 132 & 133". I thought it should appear under section 110? A search from the internet revealed that S 132 & 133 is related to Double Taxation. Is there something wrong with the e-filing?
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simplesmile
post Apr 13 2010, 09:19 PM

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QUOTE(penangmee @ Apr 13 2010, 12:06 AM)

Look at the form again carefully. It does not appear in the Sek 132/133 column. It appears in the tax deduction under Sec 51 Finance Act 2007 column. as it should be.
Company dividends no longer appear under section 110 effective 2008.
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There are total 6 pages in e-filing.
1. Maklumat Individu | Particulars of Individual
2. Pendapatan Berkanun & Jumlah Pendapatan | Statutory Income and Total Income
3. Pendapatan Tahun Kebelakangan | Income Of Preceding Years Not Declared
4. Tuntutan Pelepasan | Deduction Claim
5. Tuntutan Rebat / Tolakan Cukai / Pelepasan Cukai | Rebate Claim / Tax Deduction / Tax Relief
6. Rumusan Cukai | Tax Summary

Goto the last page, summary. The tax dividend paid is listed as

Tolak : Jumlah tolakan/pelepasan cukai
(Pelepasan cukai seksyen 132 & 133 terhad kepada jumlah cukai yang dikenakan)
Less : Total tax deduction/relief (Section 132 & 133 tax relief restricted to total tax charged)


I'm wondering if this is a systems glitch. If I click "submit", will I be penalised later for wrongful submission? ie, claiming as S 132 & S 133 instead of Section 51
rclxub.gif
simplesmile
post May 1 2010, 11:17 PM

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QUOTE(ronnie @ May 1 2010, 11:35 AM)
We should all declared more on the TP1 form to ensure the Govt don't take as much.
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What is the TP1 form?
simplesmile
post May 9 2010, 02:40 PM

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QUOTE(xSean @ May 9 2010, 02:13 PM)
may i know for sole prop, if my net profit is rm1k for this year, is it i will take all rm1k? if next year net profit is rm100k, then take all rm100k?

another, if my parents not working, can i employ them and pay rm20k annual salary which sure not eligible to pay tax?
*
The malaysia income tax systems is a progressive tax systems. The higher your income, the higher the tax %. Relax, you're not being taxed 100%. So if you have profit Rm100k, then only a certain % is taxed. You can keep the balance.

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