It’s advisable to pay your income tax on time as the IRB doesn’t provide us the time delay. If you can pay your income tax return on time then you can avoid the penalty charges. But, if you cannot have own discipline then you may face penalties.
For those who are under employed, they have to file their returns and pay their income taxes by April 30 whereas for those who are self-employed then they need to file their returns by June 30.
Penalty Charge for Late Payment of Income Tax
Under the Income Tax Act 1967, a 10% penalty will be imposed on the outstanding of tax payable and if the tax is still not paid after 60 days, a further 5% penalty will be imposed on the balance unpaid. Let say if your tax amount is RM1000, your penalty charge will be RM100. If you do not pay the RM1100 after 60 days, an extra 5% will be imposed. The amount that you are required to pay will be RM1155 [(5%xRM1100)+RM1100].
If can, try don’t wait till last day to pay income tax. Do pay it on time to avoid the penalty charges.