Scribd Logo
Upload

Welcome to Scribd!

  • 156 views

    Individual Chargeable Income (Section 4a To 4d) Tax Computation Format

    Uploaded by

    Haananth Subramaniam
    Mr. X has income from two businesses, employment, dividends, interest, and rental properties for the Year of Assessment 2020. Business I had a statutory income of RM6,000 after deducting capital allowances. Business II had a loss of RM10,000. Mr. X's total income was RM21,050 after deducting current year business losses and donations. After deducting personal reliefs of RM15,000, Mr. X's chargeable income was RM6,050. However, after rebates, Mr. X's tax payable was nil.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Individual Chargeable Income (Section 4a To 4d) Tax Computation Format

    Uploaded by

    Haananth Subramaniam
    156 views1 page
    Mr. X has income from two businesses, employment, dividends, interest, and rental properties for the Year of Assessment 2020. Business I had a statutory income of RM6,000 after deducting capital allowances. Business II had a loss of RM10,000. Mr. X's total income was RM21,050 after deducting current year business losses and donations. After deducting personal reliefs of RM15,000, Mr. X's chargeable income was RM6,050. However, after rebates, Mr. X's tax payable was nil.

    Original Description:

    Malaysian taxation

    Original Title

    Individual Chargeable Income (Section 4a to 4d) Tax Computation Format

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Mr. X has income from two businesses, employment, dividends, interest, and rental properties for the Year of Assessment 2020. Business I had a statutory income of RM6,000 after deducting capital allowances. Business II had a loss of RM10,000. Mr. X's total income was RM21,050 after deducting current year business losses and donations. After deducting personal reliefs of RM15,000, Mr. X's chargeable income was RM6,050. However, after rebates, Mr. X's tax payable was nil.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    156 views1 page

    Individual Chargeable Income (Section 4a To 4d) Tax Computation Format

    Uploaded by

    Haananth Subramaniam
    Mr. X has income from two businesses, employment, dividends, interest, and rental properties for the Year of Assessment 2020. Business I had a statutory income of RM6,000 after deducting capital allowances. Business II had a loss of RM10,000. Mr. X's total income was RM21,050 after deducting current year business losses and donations. After deducting personal reliefs of RM15,000, Mr. X's chargeable income was RM6,050. However, after rebates, Mr. X's tax payable was nil.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 1

    Mr X

    Computation of chargeable income for YA 2020


    RM RM RM
    Business I
    Adjusted income 8,000
    Less: Capital allowance - b/f 500
    - current year 1,500
    (2,000)
    Statutory income 6,000

    Business II
    Adjusted Income NIL
    Add: Balancing charge 1,500
    Less: Capital allowance - b/f 1,000
    - current year 800 (1,800)
    Unabsorbed CA c/f to YA2021:300
    Statutory income -
    Aggregate statutory income ( all business) 6,000
    Less: Business loss b/f (500)
    Net aggregate statutory income (all business) 5,500

    Add: Statutory income from Employment S 4 (b) 24,000

    Add: Dividend income (Single tier ) -exempted S 4 (c ) -

    Add: Interest income -exempted if applicable S4 (c ) 2,000

    Add: Statutory income from rental S4 (d ) 3,000

    Aggregate income (All sources) 34,500


    Less: Current year business loss (Buseness II) (10,000)
    (Unabsorbed business loss c/f to YA2021: if available)
    Approved donation (incurred 10,000 but restricted to 10% of AI) (3,450) (13,450)
    Total Income 21,050

    Less: Personal reliefs for resident individuals


    self 9,000
    child relief 2,000
    EPF 4,000 (15,000)
    Chargeable Income 6,050

    Tax chargeable (6050-5000)x1% 11


    Less : Rebate (400)
    Tax payable Nil

    You might also like