Modern Interior Sdn. Bhd.

,
Computation of income tax payable for YA 2021
RM RM
Section 4 (a) interior design (-) (+)
Profit before tax 2,063,400
1)Stock obsolescence written off D nil
Gross payment 27,000

2) Interest accrued on fixed deposit in Malaysia 80,000

Interest on fixed deposit from a bank in Singapore 96,000

Rental of a building in Singapore (need to put section 4 d) exempted 220,000

3)Dividend from Australia (remitted) 78,000

Dividend received from a pioneer status company 52,000

4)
Salaries d Nil
EPF contribution for director employees
The lower of
Actual contribution 80k
19% of the remuneration 420k x 19% =79,800
OVER DEDUCTION = rm 80k-79.8k=200 (+) 200
Annual leave passage 90,000

5) Specific provision d Nil

General provision nd 2,000

6) purchase of equipment (capital In nature) 62,000

Machine maintenance Nil
Repairs on the building rented out in Singapore (put section 4 d) 24,000

7) Lucky draw prizes to customers Nil

Clients’ entertainment (50% x 17,000) 8,500

8)Professional charges and subscriptions include:

Legal fees for handling income tax appeal 900
Accounting and statutory audit fees Nil
Staff recruitment charges paid to an employment agency Nil
Fees paid for registration of trademark in Switzerland 15,000
Stamp duty on increase in authorised share capital 10,000
Designing and printing of brochures (advertisement) nil

9) Approved training expense 19,500

Research expenses 86,000

10) Cash donations to Kedah Public Library (max deduction 100k) 25,000
Cash donation to Majlis Bandaraya Melaka Bersejarah (MBMB) a 150,000
local authority
 Depreciation 31,000

11) Allowance paid 4,200

Compensation paid (capital in nature) 27,000
Lease rental Nil
Construction of a showroom (capital in nature) 32,800
650,700 2,553,800
(650,700)
Adjusted income 1,903,100
Less: capital allowance b/f 65,000
Capital allowance ( current) 9,800 (74,800)
Statutory business income 1,828,300
Less: unabsorbed business loss b/F (29,000)
1,799,300
S4© interest and dividend income
Interest accrued on fixed deposit in Malaysia 80,000
Interest on fixed deposit from a bank in Singapore Exempted
3)Dividend from Australia (remitted) Exempted
Dividend received from a pioneer status company Exempted
Statutory interest& dividend income 80,000

S4(d) rental income

Rental of a building in Singapore exempted
-repair on building Exempted
Statutory rental income nil
Aggregate income 1,879,300
Less: Cash donation to Majlis Bandaraya Melaka Bersejarah (MBMB) (150,000)
Chargeable income 1,729,300

Income tax payable

First RM600KX 17% 102,000
Next RM1,129,300 x24%) 271,032
Income tax payable 373,032

Nd expenses + ,d expenses nil ,dd expenses -

 Glamreka Sdn. Bhd.
Computation of income tax payable for YA 2021
RM RM
Section 4 (a) manufacturing and selling of cabinets (-) (+)
Profit before tax 325,900
1)Provision for stock obsolescence 10,000
Damaged goods written off Nil

2) Pioneer company in Malaysia (gross) 36,000

Hong Kong (remitted) (gross) 20,040
Malaysian company (net) 39,960

3) interest Nil

Profit on sale on fixed assets 10,000

Advertising and promotion NIL
Depreciation 80,000

4(entertainments NIL

5) Realised loss 10,000

Unrealised loss 8,000
6) insurance premium to indonesian Nil
insurance premium to malaysia 10,500

7)Audit fees Nil

Income tax appeal 5,000
Registration of a new trademark in UK dd 15,000
Renewal of two existing trademarks in Malaysia Nil

8) Specific provision for doubtful debts Nil

General provision for doubtful debts 3,000
Trade bad debts written off Nil

9)Entrance fee to a golf club for CEO (business and private 5,000
uses)
Entrance fee to a trade association (one time payment) 5,500
Annual subscription to a trade association Nil
Cash donation to a political party (x approved donation) 15,000
Cash donation to Rumah Seri Kenanga (approved institution) 27,000
（approved donation)

10 Routine product Nil

Research expenses dd 32,000

11)Salaries and bonuses for employees Nil

Salary and bonuses for disabled employee dd 14,000
EPF contribution for all employees
The lower of
Actual contribution 46k
19% of the remuneration 180k+14k x 19% =36,860
OVER DEDUCTION = rm 46k-36.86k=9,140 (+) 9,140
12 lease rental Nil
177,500 503,540
(177,500)
Adjusted income 326,040
Less: capital allowance b/f (33,000)
Current year capital allowance (55,000) (88,000)
Statutory business income 238,040
Less: unabsorbed business loss b/F (37,500)
200,540
Section 4 c dividend income
Pioneer company in Malaysia (gross) Exempted
Hong Kong (remitted) (gross) Exempted
Malaysian company (net) Exempted
Statutory dividend income Nil

Aggregate income 200,540

Less: Cash donation to Rumah Seri Kenanga
The lower of
-actual contribution 27k
-10% of aggregate income= RM200,2540X10%= 20,054 (20,054)
Chargeable income 180,486

Income tax payable 24% 43,316.64