INCOME TAX ACT 1967 (ACT 53)
PART III - ASCERTAINMENT OF CHARGEABLE INCOME
Chapter 8-Special cases
Section 64. Estates under administration.
(1) For the purposes of this Act, any source forming part of the estate of a deceased individual and any income from that source arising after the day of the death of that individual shall be treated as the source and income of the executor of that individual.
(2) The chargeable income of the executor of the estate of a deceased individual for a year of assessment shall be ascertained by reference to the gross income from those sources for the appropriate basis period determined in accordance with the provisions of sections 3 and 4.
[Am. Act A226:s.23]
(3) Where an annuity is payable for the basis year for a year of assessment by an executor of a deceased individual, then-
(a) in ascertaining the total income of the executor for that year of assessment the amount of the annuity so payable shall be deducted after any deduction falling to be made under paragraph 44 (1)(a) or (b) and before any deduction falling to be made under paragraph 44 (1)(c);
(b) the annuity so payable shall be regarded as income within the meaning of section 4(e) in the hands of the annuitant; and
(c) the annuity shall be deemed to be derived from Malaysia.
[Am. Act A226:s.23]
(4) In the case of an estate of an individual who was domiciled in Malaysia at the time of his death, the deduction allowed for any year of assessment by section 46 (but no other deduction under Chapter 7) shall be made from the total income of the executor for that year whether or not the executor is an individual and whether or not the executor is resident for the basis year for that year.
[Am. Act A226:s.23; A471:s.11]
(5) Subject to subsection (3), payments made by the executor of a deceased individual to a beneficiary of the estate of that individual and received by him as a beneficiary shall not be regarded in his hands as income for the purposes of this Act.
(6) For the purposes of subsection (3), subsection 63 (2) shall apply to annuities affected by this section as it applies to annuities affected by the said section 63.
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