Special Class Income refers to income subject to separate taxation and has its own legislative requirements, particularly under Section 4A of the Income Tax Act 1967.
Objectives:
Understand the concept and criteria for classifying Special Class Income according to Section 4A.
Identify the categories of Special Class Income as stated in the provisions of Section 4A.
Understand tax exemptions and implications of services or income included under Section 4A.
Benefits:
Ensure better tax compliance in income management.
Individuals or organizations can reduce the risk of tax law violations that may arise due to ignorance.
Individuals or organizations can save on the tax costs that should be imposed, making financial management more efficient and effective.
