Income Tax, Repayment by LHDN
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 Mar 17 2007, 09:59 AM
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#1
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Senior Member
633 posts Joined: Jan 2006  
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QUOTE(tinkerbel @ Mar 17 2007, 01:53 AM) I been told we need to fill in a request form before they will return your monies to you. Also, don't expect it to come anytime soon. You're NOT allowed to use it to offset the following years' taxes. You can use it to offset following years taxes if it has'nt been prepared by IRB.Don't ask me why but apparently, that's how the system is *shrugs*   |
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Mar 18 2007, 02:51 PM
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#2
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Senior Member
633 posts Joined: Jan 2006
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QUOTE(tinkerbel @ Mar 17 2007, 07:59 PM) @penangmee, Prepared the cheque for refundlah. However you must be sure of the amount coz if you use it to set-off this years tax but under audit it is determine that your tax credit is less than you have calculated than you would have underpaid this years tax!!U can offset it for the coming years tax? IF IRB hasn't prepared it yet? Er.. I don't get what u mean by if IRB hasn't prepared it yet. I sure wonder why the hell my 'consultant' told me it can't be offset........ CON me! |
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Mar 22 2007, 11:21 PM
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#3
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Senior Member
633 posts Joined: Jan 2006
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QUOTE(socratesman @ Mar 22 2007, 01:00 AM) Ugghh i don't think you can do that. You're not allowed to deduct yourself without LHDN approval, even though your calculations are right. Yes you can thats what is known as self assessment. However just for any excess tax to be paid , not for PCB deductions.Added on March 22, 2007, 11:30 pm QUOTE(Aggronax @ Mar 20 2007, 10:23 PM) stargate, Hope this link is helpful to you.need some help from you or someone could provide me information regarding. Tax relief on insurance. does company have any tax relief if they purchase keyman policy contract ? can it put into expenses in accounting? thank you very much http://www.hasil.org.my/english/pdf/ruling(2)2003.pdf This post has been edited by penangmee: Mar 22 2007, 11:30 PM |
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Mar 24 2007, 05:21 PM
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#4
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Senior Member
633 posts Joined: Jan 2006
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QUOTE(stacko @ Mar 24 2007, 03:36 PM) Yes you can. You have the right to ask them to open a file for you. If they still insist you can't, I think the only reason they say no is to avoid doing extra work. There is no law which says a file must be open if there is no reason to open one notwithstanding dividends, CKHT purposes etc. IN fact for those who already have a file but income less than RM 20k (again not withstanding dividend income) you would have received letter from IRB informing you not to file unless your circumstances have change(ie suddenly you got big promotion/income My junior colleague who started work in July 2005 only earns RM12K for the 6 months and logically not taxable, but she managed to have an income tax file open for her in 2006. However once you have a file open, you must make sure you file the return irrespective of taxable or not. My own Income Tax file was open not because I have started working or have any income, but because I want to claim back the 28% tax that have been deducted from share dividends. And I always get those money back from IRB.  ). |
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Apr 26 2007, 10:44 PM
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#5
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633 posts Joined: Jan 2006
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QUOTE(mozane @ Apr 25 2007, 11:28 PM) Can the refund used to offset the income tax next year? Yes it can but for double confirmation you should sent in a written request for offset. |
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