Hi all,

Due to some personal reason, I sell off a property with no profit earning (Sell off at Bank Loan Amount). Initially i was informed by lawyer i do not need to pay tax since I do not gain any profit. However, last week i received a letter from LHDN asking me to pay the tax. From the letter : -

Keuntungan Rm81000
Cukai dikena bayar Rm26730

1. I sell off at bank loan amount, how they calculate as profit Rm81000?
2. I never get any profit why i have to pay tax?
3. Anyway to eliminate the tax?

Thanks lot.....

No refinance.

I bought at 340k
Sell at 300K
Current market value 420K