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 Income Tax Issues v3, Anything related to Personal Income Tax

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CuriousKitten
post Mar 18 2015, 11:10 AM

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If my annual income for 2014 is less than 36k, I technically do not need to file for income tax this year? Can I still claim for tax exemption (books, EPF, etc) if my income didn't exceed 36k per annum?

I've filed previous years when income exceeds 36k.
CuriousKitten
post Mar 18 2015, 05:12 PM

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QUOTE(zeese @ Mar 18 2015, 11:37 AM)
The purpose of filing tax exemption is to reduce the income tax amount.
If you don't need to pay income tax (your income tax is RM0), what's the point of of filing tax exemption?  There's no tax to be exempted/reduced in the first place.

(Do you want to make your income tax becomes negative so government pay you money instead?  biggrin.gif )
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That part in bold, yes. laugh.gif They had to pay me back previous years, same can be done this year right? Even if my income is below taxable bracket?
CuriousKitten
post Mar 18 2015, 05:16 PM

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QUOTE(cute_boboi @ Mar 18 2015, 12:25 PM)
Once you started filing, every year need to file (declare). In your case, after you fill up the form or e-filing, the auto calculation will show you no taxable amount.
So, you submit, and then print/softcopy and keep for 7 years.

In this way, every year you have submission and record tracking.
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Ah, alright. Thanks.



QUOTE(veron208 @ Mar 18 2015, 11:52 AM)
The purpose of filing is not only to reduce the tax amount or to claim back.
It will be good for you to declare your income in order to you to secure your loans from bank.

For employed under BE form, the process of declaration take less than 10 mins.
Why fret over such a simple task ?
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Nah, it's just the digging out receipts to claim tax exemption part that I dislike. Am not very organised so the receipts are stuffed everywhere. But will do!

QUOTE(supersound @ Mar 18 2015, 11:49 AM)
Nope, you still need to fill up everything. Unless you are telling that your salary won't increase over the years.
This is more on preventing you on getting audited for no reason next time icon_rolleyes.gif
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Okay, thanks for the clarification!

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