`INCOME TAX ACT 1967 (ACT 53)
PART III - ASCERTAINMENT OF CHARGEABLE INCOME
Chapter 8 - Special cases




Section 60C. Banking business.

[Am. Act A227:s.2; A471]

Where a person who is resident for the basis year for a year of assessment carries on a business of banking in Malaysia and elsewhere, his gross income and adjusted income or adjusted loss for the basis period for that year of assessment from that business and his statutory income for that year of assessment from that business shall be ascertained by reference to his income therefrom wherever accruing or derived.




Related reading:
[Act A227:s.2; Act A471]


Copyright 2002 PNMB LawNet. All rights reserved.