Does Section 48 Require E-Invoices for Child Deductions (Tax Relief)
For individuals claiming personal tax relief purposes, we have to refer to Section 48 of the Income Tax Act 1967, which is read as follows: 48(1) [Deduction for child] Subject to this section, where an individual is a resident for the basis year for a year of assessment— (a) pays (wholly or in part) in […]
New Chapter 9: Section 65F – Disposal and Acquisition of Capital Asset
Finance (No. 2) Act 2023 proposes that New Chapter 9 be introduced. Part III of the Income Tax Act 1967 is amended by inserting after Chapter 8 the following chapter: “Chapter 9 – Gains or Profits from the Disposal of Capital Asset“ Disposal and Acquisition of Capital Asset Section 65F. (1) Except where this section […]
