Transcription of ALLOWABLE & DISALLOWED EXPENSES
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Example: stock market
ALLOWABLE & DISALLOWED EXPENSES
UPDATED 06/06/2021 ALLOWABLE & DISALLOWED EXPENSES TARIKH KEMASKINI 06/06/202103-8911 1000 Hasil Care Line03-8751 1000 Hasil Recovery Call Centre/LhdnTube/LHDNM official/ 06/06/2021 HealthPublic Facilitiesand CommunicationInfrastructure&Developments SchoolAgricultureIndustries&Colleges&Uni versitiesUPDATED 06/06/2021 Income is assessed on a current year basis. The YA is the year coinciding with the calendar year, for example, the YA 2020 is the year ending 31 December , ,co-operativeortrustbody, :ACCOUNTING YEAR END 31 DECEMBER 2020(YA 2020)ACCOUNTING YEAR END 31 DECEMBER 2020(YA 2020)ACCOUNTING YEAR END 30 JUNE 2020(YA 2020)SOLE PROPRIETORSHIP/ PARTNERSHIP COMPANYUPDATED 06/06 ,whetherresidentornot, ,exceptinthecaseofthebankingandinsurance business, 06/06/2021In general, a taxpayer is required to pay tax on all kinds of earning, including incomes from:a) Business or Professionb) Employmentc) Dividendsd) Intereste) Discountsf) Rentg) Royaltiesh) Premiumsi) Pensionsj) Annuitiesk) OthersThus, gains or profits from carrying on a b
1.EXPENSES THAT ARE NOT INCURRED: •Provision of expenses •General provision of bad debt •Depreciation and loss on disposal capital assets •Unrealised foreign exchange loss 2.CAPITAL EXPENDITURE: •Pre-commencement expenses •Costs including incidental costs, of acquiring, improving or altering capital assets
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