Net profit as per income statement 2,208,900

Add disallowed expenses

wages 2,105,600
clothing from stock 350,000
gym membership 100,000
protective covers 60,000
gift to customers 18,100
donation to political party 10,000
bad debts 57,000
legal speeding issue 25,000

depreciation 312,000
lease for cars for spouses 218,000
loss on sale 20,000
loss on disposal 29,000
interest 215,000
personal light and heat (260,000/4) 65,000
overseas trip with family 240,000
3,824,700

Less exempt income

dividend income 25,000

debt collection 220,000
245,000

capital allowance
furniture and fittings 40,000
accounting software 25,000
computer equipment 200,000
office equipment 28,000
285000

chargeable income 3,784,700

tax liability(15%) 567,705
csr payable 50,000
total tax payable 517,705
less tds on rent(5%*285,000) 14,250
less APS 90,000
tax payable 413,455

due to submit on 30 june 2020

submission on 15 july 2020 (1 month late)

penalty for late submission 2,000

penalty on unpaid tax x(5%) 20,673
interest(5%) 1134
tax liabilities and penalties 432,262

workings

furniture and fittings

31 dec 2018 : 20%*250000 = 50000

21 dec 2019: 20%*200000= 40,000

Accoumtimg software
31 dec 2018: 50%*100,000=50,000
31 dec 2019: 50%*50,000= 25,000

computer equipment
31 dec 2019 50%*400,000= 200,000

office equipment
31 dec 2019: 35%*80,000= 28,000