Income Tax??..

[lonewolf]

anyone who works in Income Tax department or is a tax auditor?..

ok..i have a scenario here..

assuming...

2004 EA form
Salary = A

2005 EA form
Salary = B
Undeclared Bonus for 2004 = C

so now in B form i kinda confused...

2004 B form
fill in A as the salary

2005 B form
fill in the B as salary..
and fill in the C in (Pendapatan Tahunan kebelakangan yang belum dilaporkan) ????? or i should add B + C and fill in to Penggajian??..

coz if i fill C in (Pendapatan Tahunan kebelakangan yang belum dilaporkan) ..then i C have to calculate manually back to 2004 form B again to get the correct tax value??

its more like the C now is floating...

are they still doing the J form and send it to us??..

can someone help me....

 

[BluJacker]

anyone who works in Income Tax department or is a tax auditor?..

ok..i have a scenario here..

assuming...

2004 EA form
Salary = A

2005 EA form
Salary = B
Undeclared Bonus for 2004 = C

so now in B form i kinda confused...

2004 B form
fill in A as the salary

2005 B form
fill in the B as salary..
and fill in the C in (Pendapatan Tahunan kebelakangan yang belum dilaporkan) ????? or i should add B + C and fill in to Penggajian??..

coz if i fill C in (Pendapatan Tahunan kebelakangan yang belum dilaporkan) ..then i C have to calculate manually back to 2004 form B again to get the correct tax value??

its more like the C now is floating...

are they still doing the J form and send it to us??..

can someone help me....

now already almost end of 06. so you can declare whatever you missed out earlier in the coming B form for 06 assessment since its supported by your existing EA..no need to recalculate back. IRB will have their own judgement on this.

another thing, that is no more issuance of FORM J like those days. your B form will be the proof of your income earning for the particular years.

just my 2 cents...

 

[kelvio]

what i know is if ur bonus is for 2004, but received the bonus in 2006,u have to calculate the amount taxable for the bonus,and pay in current year assesment

but is best for u to check with IRB cos every year they revise the ruling,
go to IRB office and ask they will assist u how to calculate

now IRB dont judge edi if u declare the wrong amount and they know it,u will get fine

 

[G-4]

what is the problem if i dont pay the income tax ???
why we need to pay income tax ??

 

[kelvio]

what is the problem if i dont pay the income tax ???
why we need to pay income tax ??

if ur income is more than rm2800 per month u have to pay income tax
we pay income tax is to help the gov,like reparing road,pay goverment workers their salaries,
but now instead of we paying them to do this kind of thing,now our money can say is being used for the council build their bungalow,pay astroNUTS go to space play gasing and batu seremban.
so now u know why we need to pay the income tax:baring_teeth:

 

[wish9]

kelvio, do u pay income tax?

 

[satria_95]

What is income tax? hahaha

 

[G-4]

i just wanna know if i dint pay the tax what will happend to me ???
they kicked me out from malaysia ???

 

[infernaL]

g-4 : fines + jail term lol

 

[sakuraguy]

isit? ..im 28 already .. never pay income tax .. procedured also i dunno, how ar? go to which organisation? .. not pay cannot ar?

 

[wish9]

i dunno, nvr pay too!

Salary never exceed 2.8k le!!
:(

 

[sakuraguy]

Ic .. if less 2.5k no need pay lar? .. mine is still low.. :)

 

[huakenny]

if not mistaken, if we do pay income tax. easier for us to buy assets/properties. rite?

not sure bout tis n correct me if im wrong:retarded:

 

[kelvio]

hahaha huakenny no need to pay income tax how to get loan to buy assets...lol
the bank check ur taxes,then 3 month salary,then only they give u the loan


if dont pay income tax and IRB found out u will get fine of RM2000 or jail 6 month or both

income taxable if income over RM2800(new ruling starting this year 2006)
if lower still have to send in the tax form,but no need to pay taxes

 

[kelvio]

isit? ..im 28 already .. never pay income tax .. procedured also i dunno, how ar? go to which organisation? .. not pay cannot ar?

u have to go to lembaga hasil dalam negeri(LHDN)/IRB(english)

to open a file in order to receive the tax form

if ur salary per month is not more than 2800 then u dont have to pay tax ,but still need to submit the tax form

 

[sakuraguy]

I see .. thn for the good guide kelvio, appreciate ure help inside here ;)

Cheers!

 

[kelvio]

hehehe i ony remember abit what i study in class,
but dont rely in my info 2 much cos the IRB can change/update the ruling any time,
and what i study in class is 1 version late,
last time i keep updating my self on the taxes ruling but,now no more edi

 

[kelvio]

here the IRB website,u can check the info in there
from guide lines to fines

english version
http://www.hasilnet.org.my/english/eng_index.asp


malay version
http://www.hasilnet.org.my/melayu/bm_index.asp

 

[infernaL]

kelvio : having any exams in 3 weeks time or so ? lol

 

[BluJacker]

guys,

just to clarify, there are two issues here,

1. declaration of income earning - just make a habit to daclare your annual income every year in order to make your life easier when come to the time you want to obtain facility from financial institution.

2. income tax - is the tax amount you have to pay to IRB if your declared income is taxable.

declare 1st, tax or not tax is another issue.

even your earning is below rm2.8k, you still can declare but not going have to pay tax. bare in mind for those sale ppl out there, you are arning commissions, and claims, allowances, bonus...etc etc... so when come to the total earning after a year, and divide by 12 months, if more than rm2.8k, you will still taxable.

some ppl may think non of their business to declare income, but when you wanna buy some assest, then you will feel the difficulty for not declaring.

if you choose not to declare, no worry, no big deal. let say when you reach 40's, and you are having a big house, 2 or 3 big cars, then IRB may come you and re-trace back all the income you had undeclared. they HAVE THE RIGHTS and their own formula to calculate back, better dun put this kind shit on you! haha...