Hi i moved this from another thread to here, deleted ori. Need advise from sifus here. Sorry in advance for noob questions.

I register new enterprise/sole proprietor 9 months ago- deposited rm2K to start Maybank account and checkbook. The thing is i set this up for non-profit, So over the 9 mths i have received over rm150k from various ppl and companies. But i have paid out my friends who helped me (as consultants, contractors, etc) leaving my bank acct balance around rm8k (incl the rm2k i deposited).

Can someone advise me how do i go abt with income tax? I've read in other threads to pay IRB no matter what and to pay income tax since being new business set up bla bla. Ok its good advise but in my case do i only declare the rm6K as profit or how much? And do I need to show IRB the proof I've paid out to my friends, purchase stationery, travel, etc?

TQVM

Ok thanks for the advise


Orite thanks for advise