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107C. (1) Every company, trust body or co-operative society shall for each year of assessment furnish to the Director General an estimate of its tax payable.
Nov 6, 2023 · Section 107C of the Malaysian Income Tax Act 1967 outlines the rules and procedures for companies, limited liability partnerships, trust bodies, and co-operative societies to estimate their tax payable and make payments by instalments.
Nov 18, 2023 · The proposed amendments to Section 107C of the Income Tax Act 1967 introduce changes related to the estimation of tax payable and payment by instalments for companies, with a specific focus on ownership structures and the disposal of capital assets.
Apr 4, 2019 · Some penalties are charged by LHDN without giving a notice or telling the concerned party. One of it falls under Section 107C (9) Income Tax Act, 1967. Penalty S 107 C (9) is for the unpaid tax amount instalment, CP204 without a notification to the tax payer or tax agent.
Section. : Income Tax Act. : PART VII - COLLECTION AND RECOVERY OF TAX. : 107A. Deduction of tax from contract payment. 107A. (1) Where any person (in this section referred to as "the payer") is liable to make contract payment to.
explains the procedure for submissionof tax estimates under section 107C of the Income Tax Act 1967 (ITA) for the following categories of taxpayers: a) Company,co-operative society, trust body and Limited Liability Partnership (LLP).
S107C(10) of ITA – If actual tax payable exceeds the revised ETP (or if no revised ETP, the ETP) by an amount which is more than 30% of tax payable (“that amount”), tax due to be paid will be increased by an amount equal to 10% of the difference between that amount and 30% of tax payable.
