Tax : How is to be investigated by Income Tax Department

Income Tax department has gone deeper into JPJ as well as Banking housing or shoplot information to obtain your personal details for your monthly installment. If you are capable to make a monthly installment of RM3,000, your monthly salary or business income probably need to hit at least RM6,000 monthly which totals up RM72,000 yearly.

The major concern is that 
a) How you are able to make the monthly payment, earlier or a whole lump sum.
b) Where did you get the money from, overseas TT? from parents?
c) Why you purchase this property or motor vehicle
d) Who own this property or vehicle
e) Since when, so that to compare with your yearly income statement.

All the confidential records which has gone through bank transaction is easily obtained by the respective department. Kindly consult your tax agent for the tax rate, which is, if you are able to afford something, then it is advisable to afford to pay the income tax.

Learn how income tax is calculated which is much more better.


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