Jan 2 2024, 04:04 PM
QUOTE(adzleazhar @ Jan 2 2024, 02:43 PM)
Hi!,
Currently im working with monthly income RM5600, then i got side income RM2500 as advisor for my friend businesses.
Here is my question.
1) Currently im only declare tax for my full time job income. Should i do the same for my side income?
2) If i declare my side income, is there any possibilities my bank loan will increase due to my total income 5600+2500 or bank will consider 5600 as my only income?
Thank you.
You can don't declare. But if LHDN audit and ask you to have drink with them, you die. Penalty I think is 100% of the tax owe. They pardon you first timer offence. How do I know this? My friend got invitation from lhdn cause he never declare his part time job at all.Currently im working with monthly income RM5600, then i got side income RM2500 as advisor for my friend businesses.
Here is my question.
1) Currently im only declare tax for my full time job income. Should i do the same for my side income?
2) If i declare my side income, is there any possibilities my bank loan will increase due to my total income 5600+2500 or bank will consider 5600 as my only income?
Thank you.
If you are dealing purely cash, no need. If the other side declare, you better declare.
Depends some banks take it. You will get higher bank loan if they take it in if you can prove like continuous 3 months of the extra pay.
This post has been edited by Ramjade: Jan 2 2024, 07:38 PM
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