Hi all sifu,

I am under employment & i am having a RM720k housing loan, recently my father has decided to transfer all his Fixed Deposit (around RM300k) to my loan for principle deduction in order to reduce the interest.

Q1: I heard people were saying if you settle your loan, LHDN will come and audit you. Is this true?

Q2: In this case i have not settle my loan, will LHDN still come and audit me?

Q3: As long as i can prove that the money is come from my father, i will be ok right? I am under an employment.

Q4: My father's income tax, he was a hawker and he has retired - 68yr old. He did declare tax for his business. However, the main portion of his money is come from gamble - Toto 200k, which he have NO document to prove it (didn't photocopy). So if i am to point LHDN to my father, i am just worry they will audit my father. 

In order to avoid Q4, i wish all sifu here can advice me what to do.

Thanks in advance. 

The Toto is legal one right??
Somehow sure LHDN would have record.. Also for FD too.. So don't worry much...

Can also transfer slow slow.. Small amount, if still scared...

As for your question previously... Banks sure have link to BNM.. They the one will give report...

That's why toto price receipt is something very valuable. People willing to pay for the receipt.

LHDN might hv the records if his dad really strike TOTO legally but then again onus is on the tax payers to keep records.