Paramita Sdn Bhd - Tax computation for YA 2016

RM
Permitted expenses:
Directors' fees 200,000
Salaries & wages of employees 350,000
Audit fee 30,000
Secreterial fee 15,000
Telephone charges 10,000
Food & drink (for employees) -
Stationery 5,000
Postage 4,000
Depreciation -
(A) 614,000

Interest 210,000
Rent 300,000
(B) 510,000

Dividends (Malaysia-single tier dividends) 900,000

Dividends (from H-Land) 150,000
Gain from sale of a piece of land 800,000
Gain from sale of shares (investments) 400,000
(C) 2,760,000
 RM RM RM
S4 (c) Dividend income
Dividends (Malaysia-single tier dividends) Exempted
Dividends (from H-Land) Exempted

S4 (c) Interest income

Interest 210,000

S4 (d) Rental income

Rent (letting of own office building) 300,000
Less: Expenses
Interest on bank loan (60,000)
Maintenance expenses (90,000) (150,000)
Adjusted income 150,000
Aggregate income 360,000
Less: Fraction of permitted expenses
A x B / 4C = 614,000 x 510,000 / (4 x 2,760,000)
28,364
or 5% of B = 5% x 510000
25,500
Whichever is lower 25,500
Approved donation: within 10% x 360,000 30,000 (55,500)
Total income/ chargeable income 304,500

Tax chargeable/ Tax payable @ 24% 73,080