Is the audited report only used for LHDN tax filing?

My father just uses a blue pen to write all received (business transactions) and outgoing (payments to suppliers) money transactions in a big book.

He does not know how to use a computer.

We hire an accountant for tax filling LHDN only.

company -> personal aka donasi. malaysian famous for it

has been reduced from 12 to six years

so ur dad's company is enterprise? then probably didnt audit? then jus write reimbursement also ok lo

Just ask accountant filling lhdn as director allowance or dividend?

Is the audited report only used for LHDN tax filing?

My father just uses a blue pen to write all received (business transactions) and outgoing (payments to suppliers) money transactions in a big book.

He does not know how to use a computer.

We hire an accountant for tax filling LHDN only.

See below
Where is your company secretary?

aiyo first you are sole prop so its personal.
so i ask you your father draw his salary from where ?
what he write in the cheque when he draw salary ?
so when he naik gaji how? work 30 years when he decide naik gaji ??

then when naik gaji how he tell LDHN ? as sole prop ?
so draw lah some gaji yearly xxx amount put in epf.
all the question marks are you answer.

This time, a lump sum of RM 90,000 will withdrawn from the company bank account to a personal bank account, leaving RM 30,000 in the company account.
The father's monthly salary is recorded as RM 3,000 in the EPF records.
The father has been running the business for over 20 years, but he has never increased his own salary.

My father’s company has around RM 90,000 in the bank account. If he withdraws RM 60,000 in one go from the company’s bank account and transfers it to his personal savings account, is there any issue?

He is the only shareholder of the company.

Not sdn bhd company.....

He plans to deposit the amount from his bank account into his EPF (KWSP) account because he's already over age 55. This way, he can earn higher interest and withdraw funds anytime.
We want to ensure the transfer from the company to his personal account is documented correctly to avoid any potential tax or legal issues.
Should we ask the accountant to record this withdrawal under a specific name or description?
# Calculating interest on RM 60,000 at 5.6%

principal = 60000
interest_rate = 5.6 / 100

# Calculating the interest amount

interest_amount = principal * interest_rate
RM 3360 interest !!

My father’s company has around RM 90,000 in the bank account. If he withdraws RM 60,000 in one go from the company’s bank account and transfers it to his personal savings account, is there any issue?

He is the only shareholder of the company.

Not sdn bhd company.....

He plans to deposit the amount from his bank account into his EPF (KWSP) account because he's already over age 55. This way, he can earn higher interest and withdraw funds anytime.
We want to ensure the transfer from the company to his personal account is documented correctly to avoid any potential tax or legal issues.
Should we ask the accountant to record this withdrawal under a specific name or description?
# Calculating interest on RM 60,000 at 5.6%

principal = 60000
interest_rate = 5.6 / 100

# Calculating the interest amount

interest_amount = principal * interest_rate
RM 3360 interest !!

Maybe TS need to state what type of company first

pinjam your friend 60k then write it off

aiyo first you are sole prop so its personal.
so i ask you your father draw his salary from where ?
what he write in the cheque when he draw salary ?
so when he naik gaji how? work 30 years when he decide naik gaji ??

then when naik gaji how he tell LDHN ? as sole prop ?
so draw lah some gaji yearly xxx amount put in epf.
all the question marks are you answer.

Maybe TS need to state what type of company first