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Format Computation

This document contains computations of chargeable income tax and business income for a husband and wife for the Year of Assessment (YA) XXXX. It shows their income from various sources including business, employment, interest, dividends, rental, and others. It then calculates their aggregate income, allowable expenses, total income, applicable reliefs and rebates to determine their net tax payable. The business income section breaks down the calculation of adjusted business income by adding revenues, drawings and disallowed expenses, and subtracting other income sources and capital allowances.

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athirah jamaludin
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134 views2 pages

Format Computation

This document contains computations of chargeable income tax and business income for a husband and wife for the Year of Assessment (YA) XXXX. It shows their income from various sources including business, employment, interest, dividends, rental, and others. It then calculates their aggregate income, allowable expenses, total income, applicable reliefs and rebates to determine their net tax payable. The business income section breaks down the calculation of adjusted business income by adding revenues, drawings and disallowed expenses, and subtracting other income sources and capital allowances.

Uploaded by

athirah jamaludin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Computation of Chargeable Income Tax for YA XXXX

Husband Wife
S 4(a) Business Income
Adjusted income xx
Add: Balancing charge xx
Less: Capital Allowance (xx)
Unabsorbed business loss b/f (xx)
Statutory Income xxx
S 4(b) Employment Income
S 13(1)(a) xx
S 13(1)(b) xx
S 13(1)(c) xx
S 13(1)(d) xx
S 13(1)(e)
S 4( c) Interest, Dividend, Discount xx
S 4(d) Rental, Royalty xx
S 4(e) Annuties, Pension xx
S 4(f) Others xx
Gross Income xxx
Less: Allowable expenses (xx)
Aggregate Income xxx
Less: Current year business losses (xx)
Less: Approved donations (xx)
Total Income xxx
Less: Reliefs (xx)
Chargeable Income xxx
Income tax payable @1-28% xx
Less: Rebate (xx)
Net tax payable xxx
Computation of Business Income S 4(a) for YA XXXX
RM
Net profit xx
Add: Revenue xx
Add: Drawing xx
Less: Other business income / Non business income
S. 4( c ): dividend, interest, discount (xx)
S. 4( d ): rent, royalty, premium (xx)
S. 4 (e ): Pension, annuities, other periodical payment (xx)
S. 4( f ): other taxable income (xx)
Add: Disallowed Expenses
Salary xx
Professional fees xx
Bad debts (General) xx
Loan xx
Entertainment xx
Miscellaneous Expenses xx
Donation xx
Insurance xx
Repair and maintenance xx
Less: Double deduction (xx)
Adjusted Income xxx
Less: Unabsorbed capital allowance b/f (xx)
Current year capital allowance (xx)
Statutory Business Income xxx

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