Income Tax??..

[lonewolf]

then what is JR and JA form then?..still are still using it right now?

 

[siangmh]

R = Ruduce Tax A = Additional Tax

After Form J (Notice of Assessment) issued, & subsequently if found out that a tax payer was actually over-assessed (over taxed) (irregardless of whether the tax payer has paid the ful amount or not), then IRB will issue a Form JR to state the ruduced amount of tax / state the correct amount of tax payable. If you have paid the previous Form J in full, then now you can ask for refund of the overpaid amount.

If the other way round, ie under-assessed / under tax, say, they discover u got "extra income" which u didn't declare, hehehe, then IRB issue Form JA to increase the tax payable, together with the "Notice Of Tax Increase" thingy.

So, Form JR = good thing Form JA = bad thing

again, Form JA has to be settled / paid within 30 days from date of issue, irregardless of appeal or not. (Same with Form J lar)

& yes, they still got Form JR or JA nowadays.

 

[kelvio]

huh I945 T_T u stress arrr me lagi stress fail p7 leh now take again
then now they allocate me to kampung pandan some islamic institude
knnmcb

 

[Joeker]

THere is a saying that goes like this :

"There are only 2 certainties in life, Death and TAXES"

Anyway, I totally agree with Siangmh statement on paying your due taxes.

Especially if you're in business.

When the IRB fellas show up and dig out the years of backdated taxes, the amount you are asked to pay will turn you into a insomniac.

And to those who laugh and say they have'nt paid their taxes for years, they better pray hard, REAL HARD.

 

[siangmh]

Just to add on:

For those in biz who dont keep proper accounting records, its going to be even more nasty when IRB audit on them, compare to those who have proper accounting records.

Damn easy to get heart attack when they tell you the due taxes they charge... :) Esp those who has not comply for many many many years.

If one thought that one can only need to submit (year in year out) a ficticous income/ tax figures on its returns, a figure so low that one could smile away with it, then this would only create more risk & potential trouble.

Why? Because one had never declare enough income/taxes to reflect one's lifestyle, so if kena random audit from IRB, or when this fellow buy property/expensive car/taking loan, then the trouble starts, he may subsequently received IRB lttrs requesting to "visit" him regarding the past 3 yrs accounts & taxes, and he only got 1 week time to "prepare".

(FYI: when purchase/disposal property, the lawyer will submit CHKT form, the IRB form in relation to purchasing/disposal of real property for assessing the RPGT gain tax, for both the buyer & seller, that is where it will trigger the IRB to check on the buyer/seller tax file)

Even if one that had submit "low" taxes for all the years, and out of sudden a particular year he submitted a "high" taxes, thinking to buy property/taking loans, that is also same way to invite for trouble.

Conclusion, want to copy in exam also have to copy smart ler, right?

However, these cases don't seem to apply on those "rich & famous" politician like the recent Zakaria (known as the "father" by his supporters during recent UMNO GA), sigh........

 

[kelvio]

-___-" now i really wanna ''F'' ACCA for transfer me from 1 place to another place
and another place -___-#