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Section 138A of the Income Tax Act 1967 [ITA] provides that the Director General of Inland Revenue is empowered to make a Public Ruling in relation to the application of any provisions of the ITA. A Public Ruling is published as a guide for the public and officers of the Inland Revenue Board of Malaysia.
Rental Income Received in Advance Where rental income is assessed under S4(d), rent received in advance is charged to tax in the basis period in which it is received, and any expense incurred relating to that income is allowed in the basis period in which the income was assessed. (Example 25)
The objective of this Public Ruling (PR) is to explain the basis of ascertaining gross income for the purpose of computing adjusted income derived from the business of property development.
This Ruling considers: 1.1 the treatment of rent as a non-business source of income under section 4(d) of the Income Tax Act 1967 (the Act); 1.2 the situations or circumstances where rent or income from the letting of property can be treated as business income of a person under section 4(a) of the Act; and.
The objective of this Public Ruling (PR) is to explain the computation of total income and chargeable income of a resident individual who derives income from business, employment and other sources.
A Public Ruling is published as a guide for the public and officers of the Inland Revenue Board of Malaysia. It sets out the interpretation of the Director General in respect of the
A Public Ruling is published as a guide for the public and officers of the Inland Revenue Board of Malaysia. It sets out the interpretation of the Director General in respect of the particular tax law and the policy as well as the procedure applicable to it.
Section 138A of the Income Tax Act 1967 [ITA] provides that the Director General is empowered to make a Public Ruling in relation to the application of any provisions of the ITA. A Public Ruling is published as a guide for the public and officers of the Inland Revenue Board of Malaysia.
2019 by Inland Revenue Board of Malaysia. All rights reserved on this Public Ruling are owned by the Inland Revenue Board of Malaysia. One print or electronic copy may be made for personal use. Professional firms and associations are permitted to use the Public Ruling for training purposes only.
A Public Ruling as provided for under section 138A of the Income Tax Act 1967 is issued for the purpose of providing guidance for the public and officers of the Inland Revenue Board Malaysia.
