lhdn submission deadline 2024 submission deadlines is crucial for staying compliant with tax regulations and avoiding penalties. Here’s a detailed guide to the key deadlines for 2024:
1. Personal Income Tax (Forms BE/B/M/P)
Individuals (Form BE/B):
- Submission Deadline: April 30, 2024
- Details: For Malaysian residents who do not carry on a business. Report income, deductions, and rebates accurately.
Business Income (Form M):
- Submission Deadline: April 30, 2024
- Details: For individuals engaged in business activities. Ensure accurate reporting of business income and expenses.
Partnerships (Form P):
- Submission Deadline: April 30, 2024
- Details: For partnerships to report income and distribute it among partners.
2. Corporate Tax (Form C)
- Companies:
- Submission Deadline: 7 months from the end of the company’s financial year
- Details: Calculate the deadline based on your company’s financial year-end date. Timely submission is essential to avoid penalties.
3. GST (Goods and Services Tax) Returns
Monthly Returns:
- Submission Deadline: The 30th day following the end of each month
- Details: For businesses registered for GST. Submit returns detailing GST liabilities and claims on a monthly basis.
Quarterly Returns:
- Submission Deadline: The 30th day following the end of each quarter
- Details: For businesses that opt for quarterly reporting. Ensure returns are filed within this timeframe.
4. Tax Estimates and Payments
Provisional Tax Estimates:
- Submission Deadline: Within 30 days from the start of the year of assessment
- Details: Submit provisional tax estimates to manage payments throughout the year.
Installment Payments:
- Due Dates: The 15th day of the 3rd, 6th, 9th, and 12th months of the year
- Details: Make payments on time to avoid additional interest or penalties.
5. Stamp Duty Returns
- Submission Deadline: Within 30 days from the date of the transaction or document execution
- Details: Submit stamp duty returns promptly to avoid additional charges or penalties.
6. Property Tax Returns
- Submission Deadline: Generally by April 30, 2024
- Details: Report any changes in property status or value by this date.
Tips for Managing Deadlines
- Set Reminders: Use digital calendars or reminder apps to keep track of important deadlines.
- Prepare Early: Gather necessary documents and information well in advance to avoid last-minute issues.
- Consult Professionals: Seek advice from tax professionals for complex submissions or if you need assistance.
- Monitor Updates: Stay informed about any changes to tax laws or deadlines by checking official announcements regularly.
Conclusion
Adhering to LHDN submission deadlines is essential for effective tax management and avoiding penalties. By staying organized and aware of the key dates for 2024, you can ensure timely and accurate compliance with tax regulations. For more detailed information or if you need assistance, consult LHDN’s resources or support services.
