I retired in 2015 and resumed in mid-2016 where my annual income was less than RM 34,000. Do I need to submit BNCP for the year of assessment 2016?

Question

Accepted Answer

Pursuant to the provisions of section 77 of the Income Tax Act 1967, every person (other than companies, trusts and cooperatives) is required to submit a BNCP to the Director General: - Individuals who conduct a Business, Employment and Other Income ➢ before or on June 30 Individuals receiving Employment Income and Other Income (not doing business) ➢ before or on April 30 in the year following a year of assessment. Provided: ● Have taxable income for the year of assessment; or ● Has no taxable income for the year of assessment but has taxable income or has submitted to BNCP or has been required to submit BNCP for the year of assessment before the year of assessment.

Explore answers with confidence.

Question: I retired in 2015 and resumed in mid-2016 where my annual income was less than RM 34,000. Do I need to submit BNCP for the year of assessment 2016?