ya i know need to put in money by 31/12, but can i close after that date? basically just want to qualify for tax relief.

Hi all,

I wonder is there any interest or penalty LHDN will charge if we choose to pay the income tax by installment?

My brother was taxed by LHDN, on top of the amount that he needs to pay, there is additional 1k plus he needs to pay as well which according to the officer, this is the penalty charge to him for choosing installment plan. This is true?

Hello all sifus, I'm currently in the midst of learning how to do business with my family. And to be frank my family business is quite a mess especially when come to filing and taxation stuff. There's a lot of questions about income tax for me as I'm totally confused right now.

Scenario
COMPANY A (partnership enterprise) 50/50
Profit 50,000 in a year
Salary  payout
- toll reimbursement 600 (November & December only)
- petrol reimbursement 600 (November & December only)
- food allowance 300 (November & December only)
- basic 1500 (September  to December)

COMPANY B (Employee)
- salary 2,500 (EPF 325+275) (1year)
- reimbursement 600 (1year)

COMPANY C (sdn Bhd) 49% shares
- Loss of 10,000
Salary  payout
- toll reimbursement 600 (September to December)
- petrol reimbursement 600 (September to December)
- food allowance 300 (September to December)
- basic 1500 (September  to December)

How do I calculate? Company sdn Bhd declare income tax and I personally need to declare as well?

So from the PDF file it shows min salary taxable is starts from  $2851 not 3k as I expected?

It seems far from deduct lesser from what has been deducted based on salary. Does it because the company has something that is tax free like donation something or what that make it lesser? Thx

There's a new Tax Relief for SOCSO contributors, with limit up to RM250.
Does anyone has more info how to claim this tax relief for YA2016

Hi, I'm new here although I've been working for 2 years but I only start to paying income tax this year due to having rent as side income... I've had a few questions and doubts on some of the terms and myth that have been passed around, I hope to get a clarification on them.

So here goes.
1.People who earn less than 3k per month/36K per year do not need to pay income tax is it true?
found the answer for this the actual amount is 3500 monthly income will not be tax for 2015.
Minimum taxable income range

These 2 questions still remains..
2.what does "norm and other tax EE" means in your payslip? My previous company collect it from me every month.
3.When company collect "norm and other tax EE" from you does it consider as the company paid the income tax for you?

Hello,

It is coming to the month end of January 16. I am working out the salary slip for my staff and I found that with the new 2016 PCB table, this year PCB really drops a lot. I am not sure I am doing the right thing. Can some1 please double check for me?

Example in year 2015. After Employee EPF deduction band RM3500 for married wife working 0 children pays RM80.

But with PCB 2016 table, the same category pays only RM33.35!!

This is way off 50% dropping. What is wrong with me?

I will like to ask, what's the fastest way to open an income tax file with Inland Revenue Board Of Malaysia.

I have never work before. What are the options?

(1) finding a job?
(2) can share trading allow me to have an income tax file?

Please advice. THanks

http://www.hasil.gov.my/goindex.php?kump=3...&unit=3&sequ=1#

Hi, u may refer to above link for some Q&A....hope it helps you.
Errmm...regarding your questions, I m not sure..perhaps HR people mayb able to help you. But, i f i m not wrong, the HR "need" to do it...

I did a check on the PCB 2016 table for the tax deduction on my salary range and noticed that the amount is actually higher than my income tax amt for 2015. The difference is about RM100. How is this possible? I thought the tax amt is supposed to reduce with the Budget 2016.

FYI, every year I get tax refund from IRB so it is definitely not because my company under deduct the monthly tax.

Anyone know a possible explanation?

Nope, even your pay are only rm27000 a year you still need to register your self, this is to prevent any problem later on especially when you are applying loan.
As banks will take this as a consideration.

For parent medical deduction, does parent in law included ? or just own parent.

Yes, you are pretty right on this, then IRB will send a love letter asking for a date
http://edaftar.hasil.gov.my/
And it is an easy process, same like registering an online ID in forums and becoming a keyboard warrior that like to picking up bones inside an egg like you

lol @ everyone should register a tax number no matter what their income is?

if the cleaner earns RM900 per month, meaning also need to register a tax number? what kind of joke he is talking about?

Question. 'mulai Tahun 2015' means the RM34,000 applicable for income tax year 2014 or 2015?

http://www.hasil.gov.my/pdf/pdfam/Nota_BhgG_1.pdf

above is the contoh, right?

Hi i started working for a year now. My question is that do i have to file for tax? From my payslip it has monthly tax deduction thou.
Kinda new in this income tax kind of things.

hmm..may i ask how do you claim it..coz through E-filling i think it's automated...and i didn't get the RM 400 last year (2014 assesment)

So if I don't have a tax number, I don't need to go to LHDN office physically at all? Everything can settle online?

hi..when is the last date we need to submit our taxation? i am an employee.

i have not get the EA form for last year 2015. i have chg my company since october 2015

Meaning only have 1 month to file it? Also, I know there are many complicated claims and things to fill up, but my life is not that complicated and nothing to claim. Can I skip everything and which are the compulsory parts I need to fill up? I just want to pay the tax without the stress of calculating this and that.

Sorry, I'm trying to understand your reply.. can you elaborate further? Also the amount that I owe them is not listed under "penalty" it's listed under what's left that I need to pay which stated under the RM10000 amount.

based on their website: -

"Interest expended to finance purchase of residential property. Relief of up to RM10,000 a year for three consecutive years from the first year the interest is paid."

Which I did claimed the relief for I think 3 years.....

Every year also over 10k interest paid...

I've checked with some friends, they said that it doesn't look like I'm being audited. They're outright requesting me to pay an X amount. I can only make rayuan.

weird stuff, too bad I can't call them now and until next wednesday