Partnership Tax Season Doesn’t Have to Be Stressful
Starting a partnership in Malaysia brings excitement — until tax season hits. One key form keeps your partnership compliant: Form P. Filling it right matters because Form P shows your partnership to LHDN (Lembaga Hasil Dalam Negeri). Mistakes could slow down processing, spark audits, or land your partners with fines. In this 2025 guide, we’ll show you how to complete Form P for the Year of Assessment (YA) 2024, due in 2025 — with easy-to-follow steps and expert advice to help you get it right on your first try.What Is Form P?
Form P serves as the official income tax return form for partnerships in Malaysia. Partnerships themselves don’t pay income tax, but they need to report their total income, expenses, and net profit or loss for the year. Each partner gets taxed through Form B based on their share of the profit.Form P Tax Filing Due Dates (2025)
For the 2024 Assessment Year here are the submission deadlines:| Submission Method | Deadline | Platform |
| Paper Filing | 30 June 2025 | Manual submission to LHDN |
| E-Filing (ezHASiL) | 15 July 2025 | Submit via LHDN’s e-Filing portal |
What You Should Have Ready to Start Form P
Before you sign in collect these items:- Financial statements for 2024 that have been audited or reviewed
- Details about partners (name, NRIC/passport, profit-sharing ratio)
- Records showing income and business expenses
- CP204 payment statements (if this applies to you)
Here’s How You Can Fill in Form P Online (2025)
These steps will guide you to complete your Form P using LHDN’s ezHASiL e-Filing system.Step 1: Sign In to ezHASiL
Go to the ezHASiL Portal and sign in with your partnership’s tax ID and login details.Step 2: Choose Form P (YA 2024)
Once inside, pick Form P for the 2024 assessment year.Step 3: Complete General Information
Enter:- Partnership name and registration number
- Tax file number
- Business registration number (SSM)
- Contact details
Step 4: Report Income
List all revenue sources from 2024 such as:- Product or service sales
- Rental income
- Commissions or other business earnings
Step 5: Document Business Expenses
Include deductible operating costs like:- Office rent and utilities
- Employee wages and SOCSO payments
- Business software, licenses, and upkeep expenses
Step 6: Calculate Net Profit or Loss
Take away total expenses from total income. Check your math twice before you move on.Step 7: Split Profit or Loss Among Partners
Share the net profit or loss based on your partnership agreement’s profit-sharing plan. Make sure each partner’s share matches what they report in their Form B (Individual Tax Return).Step 8: Enter Partner Details
For each partner, provide:- Full name
- NRIC or passport number
- Percentage of profit or loss share
Step 9: Look Over & Hand In
Go through all sections to check everything is correct. When you’re happy with it, send it through e-Filing by July 15, 2025, and keep the e-acknowledgment receipt for your files.Who Sends in Form P?
The lead partner — the first one named in your partnership deal — has to prepare and send Form P. They serve as the main contact with LHDN for tax issues and make sure it’s sent on time.Why Form P Needs to Be Right
It’s key that Form P matches up with each partner’s Form B. If LHDN spots differences between what the partnership earned and what partners say they earned, it might lead to:- Processing holdups
- Extra tax charges
- Potential audits
How Accounting Software Makes Form P Filing Easier
Old-school bookkeeping turns tax season into a headache. With Info-Tech’s HR & Accounting Software, partnerships can:- Track income and expenses without manual work
- Create financial statements and profit-sharing reports in a snap
- Get Form P-ready summaries for LHDN
- Monitor each partner’s input and output in real time
Common Mistakes to Watch Out For
| Mistake | Impact |
| Late submission (after July 15) | Penalties and audit risk |
| Income mismatch between Form P & Form B | LHDN audit or reassessment |
| Missing partner details | Filing rejection |
| Using outdated financial data | Incorrect tax computation |
| Manual bookkeeping | Errors and lack of audit trail |
To Sum Up
Filing Form P isn’t just another task — it’s key to clear money management in your partnership. When you do it right, each partner can file their personal taxes without a hitch and your business stays clear of red tape you don’t need. By getting your records ready and using a digital accounting system like Info-Tech’s HR & Accounting Software, you can sail through the 2025 filing season without worry. Remember:- Paper filing: 30 June 2025
- e-Filing: 15 July 2025
Frequently Asked Questions:
What does Form P mean in Malaysia?
Form P is the tax return form for partnerships. It tells LHDN about the business’s income, expenses, and how profits are split among partners.
When is the Form P deadline for 2025?
If you file on paper: 30 June 2025. If you file online: 15 July 2025 through LHDN’s ezHASiL portal.
Who needs to file Form P?
The precedent partner must fill out and turn in Form P for the partnership.
Do partnerships pay taxes?
No. The partnership reports all income on Form P, and each partner pays their own taxes based on how much of the profit they get (in Form B).
How can software help with Form P filing?
Accounting software has an impact on income tracking, profit sharing, and report generation. This ensures accuracy and makes sure companies follow LHDN rules.