Get Tax Computation Format

Filing your Tax Computation Format online is an essential step for investment holding companies to meet their tax obligations. This guide provides a clear and supportive approach to help users navigate the various components of the form effectively.

Follow the steps to complete the Tax Computation Format online.

1. Click the ‘Get Form’ button to obtain the Tax Computation Format. This action will allow you to download and open the document in your preferred editor.
2. Begin by filling out the header section with your Tax Reference No., Name of Company, Year of Assessment, and Basis Period. Ensure this information is accurate as it is crucial for processing your tax.
3. Next, list your statutory expenses including audit fees, secretarial fees, and other related costs. Add these amounts to calculate the total statutory expenses.
4. Proceed to report your investment income. Break it down into categories such as total dividends, interest, rent, and other income. Sum these amounts to get your total income.
5. For each category of investment income, detail any direct expenses incurred. These must relate directly to earning specific income types, and then calculate your share of common expenses based on the total income.
6. Determine your total net investment income by subtracting any direct expenses and common expenses from the total income. Continue to deductions such as approved donations to conclude the chargeable income before applying the exempt amount.
7. Calculate tax based on chargeable income after deducting the exempt amount. Apply the relevant tax rates to determine the net tax payable or repayable.
8. Finally, review all the entries for accuracy. Save your changes, and choose to download, print, or share the filled form as necessary.

Start completing your Tax Computation Format online today for a seamless filing experience.