IRB does not issue Form J anymore. It's self assessment system. What you have filled out as tax payable (or refund) on the Form B is taken as final (unless you get audited by the IRB)

Buy and sell goods, like hardware or whatever, is considered a trading, and income/profit made is a taxable income.

But if buy and sell a house/investment, and make profit from it, is considered as capital gain, and capital gain is not a taxable income. But rental made through the house is a taxable income.

Yes, if not more than 5 years, at current RPGT rules.

Would like to get feedback regard this tax exempt benefit:

(d) Leave passage for travel (confined only to the employee and members of his immediate family i.e. spouse and children):
- within Malaysia not exceeding three times in any calendar year (cost of fares, meals and accommodation); or
- between Malaysia and any place outside Malaysia not exceeding one passage in any calendar year, is limited to a
maximum of RM3,000 (only cost of fares);

Read from a book that if our company does not provide this benefit, we can suggest to the company to replace guranteed bonus with this to reduce paying tax. If the company agreed how do we go about it?
Do we need to submit receipts when claiming from the company?
Does cost of fare include taxi, car rental, boat, cruise during the trip?
Only meals with receipt can  claim?

Thanks in advance.

Is it mean that u pay RM2500 in one go in the 1st instalment of YA 2012?

e.g.

Feb 2012 RM416-----> pay in one go RM2500
Apr 2012 RM416
Jun 2012 RM416
Aug 2012 RM416
Oct 2012 RM 416
Dec 2012 RM 420
    Total  RM2500

If it is, yes, you can and supplement  with a letter forward to IRB to inform them u payment mode.
Remember that u have to pay the installment before the due date.