So it has come to the time of the year where Malaysians declare their income tax to the Lembaga Hasil Dalam Negeri (LHDN).
For those who had purchased Life Insurance with Medical, you are entitled for tax deduction of up to RM 6,000 (inclusive of Employee Provident Fund (EPF) contribution from the employee portion) & up to RM 3,000 for Medical insurance.
If you had not receive your Life Assurance Premium Statement from your insurance company, do give your agent a buzz.
Fill up the tax deduction based on the below picture. For life insurance, add them with the amount you had contributed to the EPF (your portion of contribution only, excluding the employer's contribution) to the "F16 Insurance nyawa dan KWSP" column.
If you have done any savings/investment plans that are eligible for income tax deduction (up to RM3,000), add them to the F17 column.