Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. answer (taxation in business income malaysia) ms.

Answer (Taxation in Business Income Malaysia) Ms. Gula Sweety is a part time lecturer. To...

90.2K

Verified Solution

Question

Accounting

Answer (Taxation in Business Income Malaysia)

Ms. Gula Sweety is a part time lecturer. To fill her time, Ms Gula has taken up a hobby of furniture painting. Soon she has many painted furniture in her house. Some of her friends who visited her house wanted to buy the painted furniture. Ms Gula initially did not want to sell the furniture but eventually sold off the furniture as she was running out of space in her house. In total, Ms Gula sold off 4 units of furniture with the profit of RM4,000.

Advise Ms Gula on whether she needs to declare these sales as business income.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

The outstanding capital stock of Teal Corporation consists of2000 shares of $100 par value,...

Advance Math
1.2K views

What are the different methods for solving a system of equations? Which method do you like...

Operations Management
1.2K views

As part of an insurance company’s training program, participants learn how to conduct an analysis of...

Medical Sciences
1.2K views

14) Which of the following corresponds to a neuron's membrane potential before, during and following an...

Basic Math
1.2K views

MATH 1530 Chapter 8 Practice Worksheet 3

Calculus
1.2K views

4 Each angle measure is given in radians Write the corresponding angle measure in degrees...

Algebra
1.2K views

LEARNING OBJECTIVE Simplify a square root or a CU Which of the following would result...

Algebra
1.2K views

2 3x 2x x 1 x 2x 3

Accounting
1.2K views

A company gives common stock to a supplier in return for inventory. Which of the...

Accounting
1.2K views

Sandhill Company is considering three long-term capital investment proposals. Each investment has a useful life...

Accounting
1.2K views

Nubela Manufacturing is considering two alternative investment proposals with the following data: \table[[,Proposal X,Proposal...

Finance
1.2K views

An insurance company incorporated in Kentucky has been licensed to operate in Tennessee. In Tennessee,...