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Latest update on: Rules 2021 Assets that are eligible to claim under this P.U. (A) 268/2021 are as follow: (A) Machinery : -  Machinery that can be categorized as a…

What is Intangible Asset ? An identifiable non-monetary asset without physical substance (MFRS 138) The existence of such assets may be indicated by legal documents that describe their rights The…

What is Rental Income Tax Rental Income applies to both residential and commercial properties, and even certain machinery and ships, which also known as movable properties. A rental income tax…

What is interest? “Interest” is the return or compensation for the use or retention by a person of a sum of money belonging to or owed to another. Tax treatment…

What is a charges? A charges is the security that a company gives a loan, such as mortgages. The term ‘charges’ refer security given by a company over some or…

Do You Know Lease in Terms of Accounting? A lease agreement is a contract between the lessor and the lessee. The lessor is the legal owner of the asset, and…

Are you a corporate residence?! A company is tax resident in Malaysia in a basis year (normally the financial year) if, at any time during the basis year, the management…

Advantages of Documents Keeping The most important is According to COMPANIES ACT 2016, SECTION 245, a company shall keeps proper accounting and records, contravene to this shall be liable to…

Provisions in accounting are an amount set aside to cover a probable future expenses, or reduction in the value of an asset. Accruals refer to the recognition of expenses and…

What is Gratuity? Upon employment termination of an individual due to retirement or resignation, he/she might be paid a lump sum termination benefit in respect of long period of service.…