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 Income Tax Issues v3, Anything related to Personal Income Tax

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ronnie
post Mar 8 2014, 11:19 AM

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QUOTE(jasmineh2y @ Mar 8 2014, 01:11 AM)
How to get the boring TP1? Normally, HR will have it?
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You can download the form from LHDN website and pass it to your HR dept. Please check with your HR dept.
birdman13200
post Mar 8 2014, 12:29 PM

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QUOTE(mbhoo @ Mar 8 2014, 01:21 AM)
Hihi, I think HLA WEALTH BUILDER is not under PRS scheme since when i buy the PRS scheme not yet launch.. @.@
I have make some google search found this link http://kclau.com/retirement/prs-da/ but still not sure can use as tax relief on
Deferred Annuity and Private Retirement Scheme (PRS) - with effect from year assessment 2012 until year assessment 2021
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As I know, it not only limited to PRS, I heard my colleague got offer for GE (great eastern) regarding something in the same category of PRS, may be it will fall under deferred annuity, as we know, GE is not the PRS provider. So, u may call LHDN for clarification.
SUSDavid83
post Mar 8 2014, 05:28 PM

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@birdman13200, you're correct it's either deferred annuity or PRS.

Better check with the wealth management provider for details/eligibility. You need to keep the annual statement for claim in case of audit.

This post has been edited by David83: Mar 8 2014, 05:29 PM
royalz
post Mar 9 2014, 08:31 PM

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Guys ..if I had submitted online e-filing and realised I missed out something. Any way I can re-submit or modify? thanks

also..for all the tax deduction or tax relief..we do not have to upload a scan copy of the receipt? how can they verify if its true then? sorry newbie here thanks

This post has been edited by royalz: Mar 9 2014, 08:36 PM
LostAndFound
post Mar 9 2014, 09:20 PM

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QUOTE(royalz @ Mar 9 2014, 08:31 PM)
Guys ..if I had submitted online e-filing and realised I missed out something. Any way I can re-submit or modify? thanks

also..for all the tax deduction or tax relief..we do not have to upload a scan copy of the receipt? how can they verify if its true then? sorry newbie here thanks
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They don't verify now, but later on you may randomly kena audited, then they'll just ask you to provide proof.

Meaning there's a chance if you never get audited that you can get away with lying.

But check the rules on what happens if you're caught eh, not worth it.
royalz
post Mar 9 2014, 10:34 PM

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QUOTE(LostAndFound @ Mar 9 2014, 09:20 PM)
They don't verify now, but later on you may randomly kena audited, then they'll just ask you to provide proof.

Meaning there's a chance if you never get audited that you can get away with lying.

But check the rules on what happens if you're caught eh, not worth it.
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icic ..thanks for the info..regarding my 1st question anyone?

missed out on filling my KWSP deduction..any way i can re-submit or modify my online e-filing?thanks
ronnie
post Mar 10 2014, 02:37 AM

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QUOTE(royalz @ Mar 9 2014, 10:34 PM)
icic ..thanks for the info..regarding my 1st question anyone?

missed out on filling my KWSP deduction..any way i can re-submit or modify my online e-filing?thanks
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Once you complete with digital signature, you CANNOT amend it. You need to go to your nearest LHDN to make amends.
Yong_5290
post Mar 10 2014, 02:46 AM

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Hi sifu sifus , this year i just start doing some small business making around fix income of around 200k-250k . Its a enterprise business so it would be crazy if kena 50-60k income tax . Any advice?

Another problem is my ex company let me handle a lot of cash , they bank in money to me then i take the cash and pay out to indon worker and bangladesh workers . More than rm 120k monthly in out my personal account and i'm not profiting from it . Whats the worse case scenario for my situation of this? And pls edvice me what to do because i need to handle those cash for my worker as im their manager

Thank you very much in advance
Fionte
post Mar 11 2014, 08:23 AM

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hi Sifu I am very unfortunately kena audited by income tax. Anyone got the same experience ? I am a small business sole proprietor. my problem is I actually never do book keeping and just throw all my receipt and invoice to my accountant, I also seldom issue receipt to my client. for my income I just agak agak only . so now the income tax ppl call me and tell me they will send a letter to me to ask for certain document, Now I also don know how. I only 2 years plus into business

any help is appreciated. thanks
jasmineh2y
post Mar 11 2014, 08:54 AM

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QUOTE(Fionte @ Mar 11 2014, 08:23 AM)
hi Sifu I am very unfortunately kena audited by income tax. Anyone got the same experience ? I am a small business sole proprietor. my problem is I actually never do book keeping and just throw all my receipt and invoice to my accountant, I also seldom issue receipt to my client. for my income I just agak agak only . so now the income tax ppl call me and tell me they will send a letter to me to ask for certain document, Now I also don know how. I only 2 years plus into business

any help is appreciated. thanks
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I'd advised you to get a professional to help as business is more things to handle..
cyang
post Mar 11 2014, 01:59 PM

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Hi expert. Would like to ask about the BE form.
for last year, Jan-Marc I join company A and then April-Dec I join company B. What should I put under the No. Majikan? If I put company B, does it means that I just need to declare my income and pcb under company B?
lalachong
post Mar 11 2014, 02:10 PM

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QUOTE(cyang @ Mar 11 2014, 01:59 PM)
Hi expert. Would like to ask about the BE form.
for last year, Jan-Marc I join company A and then April-Dec I join company B. What should I put under the No. Majikan? If I put company B, does it means that I just need to declare my income and pcb under company B?
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you put company B (latest employment as at 31/12/2013), and also all your income, including from company A.

this is income tax, which is to tax all your income for the year.
buncho89
post Mar 11 2014, 06:03 PM

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Hi guys, Sorry if this has already been asked. Do we need to declare dividend income from REIT stocks?
penangmee
post Mar 11 2014, 07:50 PM

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QUOTE(buncho89 @ Mar 11 2014, 06:03 PM)
Hi guys, Sorry if this has already been asked. Do we need to declare dividend income from REIT stocks?
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Ask and answered cool2.gif
No
Yong_5290
post Mar 11 2014, 10:19 PM

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QUOTE(Yong_5290 @ Mar 10 2014, 02:46 AM)
Hi sifu sifus , this year i just start doing some small business making around fix income of around 200k-250k . Its a enterprise business so it would be crazy if kena 50-60k income tax . Any advice?

Another problem is my ex company let me handle a lot of cash , they bank in money to me then i take the cash and pay out to indon worker and bangladesh workers . More than rm 120k monthly in out my personal account and i'm not profiting from it . Whats the worse case scenario for my situation of this? And pls edvice me what to do because i need to handle those cash for my worker as im their manager

Thank you very much in advance
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Any more helpful answer?
aylwyn paul
post Mar 12 2014, 10:19 AM

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to claim tax deduction?
aylwyn paul
post Mar 12 2014, 10:21 AM

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why pay more tax?
aylwyn paul
post Mar 12 2014, 10:24 AM

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tax slogan------ we will,we will tax you not mesra cukai or bersama membangun negara
sai86
post Mar 12 2014, 11:21 AM

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wta, juz notice the IRB cheque refund had a sentence of 'Laku dalam tempoh tiga bulan dari tarikh'.
does this means the cheque is void if its not bank-in within 3 mths from the date of cheque issue?
which department i need to find for re-issue of the cheque?
tqvm.
aylwyn paul
post Mar 12 2014, 11:48 AM

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QUOTE(sai86 @ Mar 12 2014, 11:21 AM)
wta, juz notice the IRB cheque refund had a sentence of 'Laku dalam tempoh tiga bulan dari tarikh'.
does this means the cheque is void if its not bank-in within 3 mths from the date of cheque issue?
which department i need to find for re-issue of the cheque?
tqvm.
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refer to the department(as stated in the voucher) send that cheque to you. but you have to wait for another 3 to 6 month for this refund(provided fund available), otherwise he! he! he!......

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