Join Our Dynamic Team at CCS Group!
Are you ready to take your career to new heights? CCS Group seeks talented individuals to join our Seri Petaling, Kuala Lumpur, team. As a leading firm in the industry, we offer exciting opportunities for growth and development. Current Openings: 1) Audit Department: ✅ Assistant Manager ✅ Manager ✅ Admin ✅ Intern 2) Tax Department: […]
Amendment of Section 107C – Estimation of Tax Payable
Section 107C pertains to the estimation of tax payable and the payment of tax by instalments for companies, limited liability partnerships, trust bodies, or co-operative societies. Here’s a breakdown of the key provisions: Estimation of Tax Payable (107C(1)-(3)): Entities must provide an estimate of their tax payable for each assessment year to the Director General. […]
Amendment of Section 103 – Due Date of Payment of Tax on Gain on Disposal of Capital Asset
Section 103 of the Income Tax Act outlines the provisions related to the payment of tax. Here are the key points: Due Date for Tax Payment (Subsections 1, 1A, and 2): Tax payable under an assessment for a year of assessment is generally due and payable on the due date. The due date varies based […]
Amendment of Section 99 – Right of Appeal
A person aggrieved by an assessment made in respect of him may appeal to the Special Commissioners against the assessment by giving a written notice of appeal to the Director General within thirty days after the service of the notice of assessment. In the case of an appeal against an assessment made under section 92, […]
Amendment to Section 97A: Notification of Non-Chargeability
Section 97A of the Income Tax Act 1967 pertains to the notification of non-chargeability. Here is a breakdown of its key provisions: Notification by Director General: Illustration Example: Imagine a scenario where a taxpayer, John, has various sources of income but, upon assessment by the Director General, it is found that no adjusted income, statutory […]
Finance (No. 2) Bill 2023: Expanding the Scope of Composite Assessment under Section 96A
Section 96A of the Income Tax Act 1967 establishes the concept of composite assessment, providing a mechanism for the Director General and a taxpayer to reach an agreement in writing regarding the payment of uncharged tax and penalties. The key provisions of Section 96A are as follows: Agreement for payment of uncharged tax and penalties: […]
Amendment of Section 83 – Impact Assessment of Proposed Amendments to Employer Reporting
The proposed amendments to Section 83 of the Income Tax Act 1967 introduce changes to the reporting obligations of employers. Here is a breakdown of the amendments and their potential impact on businesses: Key Amendments: 1）Deletion of Subsection 83(1B): Previous Provision: Required electronic filing for certain entities (companies, limited liability partnerships, trust bodies, or co-operative […]
