Donation for Company

Receipts and supporting documents must be kept for a period of ____________ years after the end of the year in which the return form is furnished to LHDNM, for future reference and inspection if required.

• 7

• 3

• 5

• 9

Gift of money for provision of Library Facilities or to Libraries. schools and institutions of higher education are restrict to ________

• RM20,000

• RM30,000

• RM15,000

• RM25,000

Tax treatment on donation: Gift of money to approved institutions

• Restricted to 10% of aggregate income

• Restricted to 10% of adjusted income

• Full Exemption

• Restricted to RM20,000

Donation can deduct from

• Adjusted Income

• Aggregate Income

• Statutory Income

• Chargeable Income

Donation is an expenses not being money wholly and exclusively laid out or expended for the purpose of producing the gross income so it is Non Allowable Expenses.

• Yes

• No