Income Tax Issues v3, Anything related to Personal Income Tax
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 Jan 10 2014, 03:17 PM
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#1
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Junior Member
288 posts Joined: Oct 2010  
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Hi All, got something to ask for suggestion, example , i set up a sole partnership company, declare 20% tax per year company tax, n i write payslip to myself(do i still need declare my individual tax?) or company itself be enough
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Jan 10 2014, 09:50 PM
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#2
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Junior Member
288 posts Joined: Oct 2010
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QUOTE(cute_boboi @ Jan 10 2014, 06:28 PM) e.g. ok if i declare bothCompany sales 100k Company pay salary to you (ownself) 20k Expenses, etc. 30k Net profit 50k - have to declare and taxable. Your salary from another permanent job - 36k When you declare tax with sole-prop, this is the amount to declare : 50k + (36k + 20k) Then less whatever deductible or rebate for net to pay. Why 20k is taxable ? Cause it is consider your salary (income). If you don't get the 20k as salary, then your company profit is 50k + 20k = 70k. No where to run. The other method is to declare false figures, i.e. false declaration or tax fraud. Well, you know the drill, it's not legal. Source   EPF not Compulsory gua? i self employed leh, no need so many epf |
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