TAX1: Pre Post Test Other Sources of Income

Quiz
•
Other
•
University
•
Hard
Accounting Dept KPM Bandar Penawar
Used 5+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which section of the Income Tax Act 1967 covers "other gains or profits" that do not fall under Sections 4(a) to 4(e) and Section 4A?
Section 4(d)
Section 4(e)
Section 4(f)
Section 4(g)
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the basis of assessment for annuities in Malaysia since January 1, 2000?
Previous calendar year
Current calendar year
Financial year
Preceding year basis
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under the single-tier system in Malaysia, how are dividends received by shareholders treated for tax purposes?
Taxed at a flat rate of 15%
Taxed at progressive rates
Exempt from tax
Subject to withholding tax
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT considered an exempt pension income according to Schedule 6 of the Income Tax Act?
Pension paid to a resident person reaching 55 or compulsory retirement age
Pension paid under written law relating to widows' and orphans' pension
Wound and disability pension for armed forces service
Pension received by a non-resident retiree
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the exemption limit for royalty income from publication or use of any artistic work (other than original painting) according to Paragraph 32, Schedule 6?
RM5,000
RM10,000
RM12,000
RM20,000
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is income under Section 4(f) considered broader than other sections of the Income Tax Act?
It includes all types of income
It only applies to high-income earners
It covers miscellaneous income that is often casual or occasional in nature
It is exclusively for foreign-sourced income
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does the Malaysian taxation system treat interest income received by individuals from money deposited in an approved financial institution?
It is always tax-exempt
It is taxable up to a certain limit
It was taxable but became exempt effective 30 August 2008
It is subject to a flat withholding tax
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