INCOME TAX ACT 1967 (ACT 53)
PART II - IMPOSITION AND GENERAL CHARACTERISTICS OF THE TAX




Section 5. Manner in which chargeable income is to be ascertained.




(1) Subject to this Act, the chargeable income of a person upon which tax is chargeable for a year of assessment shall be ascertained in the following manner:

Provided that in ascertaining the chargeable income of an individual resident in Malaysia there shall be excluded the income consisting of interest accruing in or derived from Malaysia and received from a person referred to in subsection (4) of section 109C in respect of interest paid or credited to that individual.

[
Ins. Act 323:s.6]

(2) For the purposes of this Act, any income of a person from any source or sources, and any adjusted loss of a person from any source or sources consisting of a business, may be ascertained for any period (including a year of assessment) notwithstanding that-

(3) [Repealed by Act 337:s.6]

(4) [Repealed by Act 337:s.6]


Related reading:
[ Act 323:s.6, Act 337:s.6]


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