Non income producing - (dormant/ inactive)

Step 2 Income Statement  
1) Non income producing - (dormant/ inactive)

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For Type 1 - Non income producing - (dormant/ inactive):-

You would get your Income Tax Computation as:

In your Page [A1] - Adjusted Income Computation 

 

Thus the whole tax computation:

Page [HK-PC] – Calculation of Statutory Income

And the cover page [ABC/YA2010] – Summary of Tax Liability

 

YEAR OF ASSESSMENT 2010

(BASIS PERIOD : XX.XX.2009 TO XX.XX.2010)

(I)

COMPUTATION OF CHARGEABLE INCOME

RM

RM

Reference

STATUTORY BUSINESS INCOME

-

HK-PC1

AGGREGATE STATUTORY INCOME FROM BUSINESSES

-

OTHER STATUTORY INCOME

Add :

Dividends

-

Interest and Discounts

-

Rents, Royalties and Premiums

-

Other gains or profits

-

Additions pursuant to paragraph 43(1)(c)

-

Aggregate Statutory income from Other sources

-

AGGREGATE INCOME

-

CHARGEABLE INCOME

-

(II)

TAX PAYABLE

RM

Income tax @ 20% on RM

0

-

Income tax @ 25% on RM

0

-

Total tax payable

-

Less :

Instalment payments made for YA2010

-

Section 110 credit

-

Balance of tax payable

-

 

That’s your ITC for an inactive company.

[Note: Non amount item is optional to show, thus make it as lease as possible to reduce mistake may incurred (My objective view)]

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