9.1.Resident without Business income (Form BE/e-BE)

Income tax computation for individual (either resident or non resident) is much more simple compare to corporate tax compliances.

Here I’ll discuss them separately which divide into:-

1. Resident without Business income (Form BE/e-BE)
2. Resident with Business income(Form B/e-B)
3. Non resident (Form M/e-M)

 

1.Resident without Business income (Form BE/e-BE)

Basically the individual (Idv) tax return (Without business income – Sec 4(a) – Filling of Form BE) timeline could be:-

Converted into time line for tax return :-

 

Step 1. Reminder of request info

Duration  : About 2 months before – Tax Return Filling

Subject     : To get the information you may need to prepare your Income Tax Computation(ITC)

For Idv ITC, you would have no sketch of information you would get, but you could refer the previous year ITC to expect how the Idv practice to control over his/her/their financial habit.

Basically the document you may get could categorize into:-

1. Income related documents
2. Rebate related documents
3. Relief related documents
4. Tax remitted related documents

[Please click on title for topic link]

E. Sample list of Information neededfor Individual Tax Computation

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Step 2. Checking of Documentation

Duration   : Once getting related documents from client

Subject     : Kindly remind to your client not to miss the information you may need to prepare your Income Tax Computation (ITC)

You may go through the previous ITC for such Idv to expect what the person may normally claim each tax returns, do call up your client if you found any unusual practice or missing documents from your client. 

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 Step 3. Draft Tax Computation

Duration  : ~3 weeks/ 20 days before tax return due date.

Subject     : Preparing tax return computation which could be accept/ agreed by your client.

Steps in preparing draft tax computation:

1. Income computation
2. Relieve computation
3. Tax payable summary

[Please click on title for topic detail explaination]

 

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Step 4. Final approval of tax return

Duration  : About 1 week before – Tax Return Filling

Subject     : Finalize submission

Check immediate whether your letter and draft Form e-BE have been signed correctly, then

open the PDF Form e-BE directly from IRB web page to ensure on the information as Form been agreed

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Step 5. Submission of tax return filling

Duration  : About 1 week before – Tax Return Filling ~the last filling date

Subject     : Submission of Tax Return Filling

Do submission, or pass it to authorize person for submission.

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Step 6. Bound Copy(or submitted record for client)

Duration  : Any time after submission, no deadline limitation

Subject    : Send the finalized Tax Return Form to your client for record keeping purpose

On simple, only 4 items you may need to prepare :-
1. Cover letter
2. Confirmation submission of Form e-BE

3. Final submitted copy of Form e-BE
4. The signed page(from your client) of Draft Form e-BE

For Comprehensive, you may need :-
1. Bill
2. Duplicate of acknowledgment
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3. [hard cover for booklet/ binding cover]
4. Cover letter
5. Signed approval letter

6. Confirmation submission of Form e-BE

7. Final submitted copy of Form e-BE
8. Signed Draft Form e-BE
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[Item between double line (3-8) is binding to be a booklet]

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