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    Exercise Question Madam

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    miss aina
    The document outlines the calculation of taxable income and income tax payable for individuals and businesses in Malaysia. It includes the calculation of business income, interest/dividend income, rental/royalty income, deductions, aggregate income and chargeable/total income.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Exercise Question Madam

    Uploaded by

    miss aina
    5 views11 pages
    The document outlines the calculation of taxable income and income tax payable for individuals and businesses in Malaysia. It includes the calculation of business income, interest/dividend income, rental/royalty income, deductions, aggregate income and chargeable/total income.

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    Exercise Question Madam Copy

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    The document outlines the calculation of taxable income and income tax payable for individuals and businesses in Malaysia. It includes the calculation of business income, interest/dividend income, rental/royalty income, deductions, aggregate income and chargeable/total income.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    5 views11 pages

    Exercise Question Madam

    Uploaded by

    miss aina
    The document outlines the calculation of taxable income and income tax payable for individuals and businesses in Malaysia. It includes the calculation of business income, interest/dividend income, rental/royalty income, deductions, aggregate income and chargeable/total income.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 11

    Section 4(a) - Business Income:

    Profit before tax


    (+) Non-allowable expense:
    Depreciation
    Capital Expenditure Expensed Off
    General Provision
    Fines or Penalties
    Prohibited expense

    (-)
    Investment income separately assessed
    Expenses qualifying for double deduction
    Profit on disposal of long term assets(capital gain)

    Adjusted business income


    (+)Balancing charge

    (-) Industrial Building Allowance & Capital Allowance


    Statutory Business Income
    (-) Unabsorbed Business Loss b/f

    Section 4(a) - Interest & Dividend Income:


    Interest from banks / others
    Statutory Interest & Dividend Income

    Section 4(d) - Rental & Royalty Income:


    Statutory Rental Income
    Statutory Royalty Income
    Statutory Rental & Royalty Income

    Aggregate Income
    (-)Current Year Business Loss
    Defined Aggregate Income
    (-) Pre-operational Business Expenditure

    (-)Approved Donations

    (-) Zakat
    Total/Chargeable Income
    Income Tax Payable
    RM RM RM
    (-) (+)
    Section 4(a) - Business Income:
    Gross Income
    (-) Deductible Expense
    Adjusted business income
    (+)Balancing charge

    (-) Industrial Building Allowance & Capital Allowance


    Statutory Business Income

    (-) Unabsorbed Business Loss b/f

    Section 4(a) - Interest & Dividend Income:


    Interest on Saving Deposits
    Interest on Fixed Deposits
    Statutory Interest & Dividend Income

    Section 4(d) - Rental & Royalty Income:


    Statutory Rental Income
    Statutory Royalty Income
    Statutory Rental & Royalty Income

    Aggregate Income
    (-)Current Year Business Loss
    Defined Aggregate Income
    (-) Pre-operational Business Expenditure

    (-)Approved Donations

    (-) Zakat
    Total/Chargeable Income

    Income Tax Payable


    Instant Noodle Mobile Phone
    RM RM RM RM
    (-) (+)

    950000 840000
    370000 295000
    580000 545000
    7000 0
    587000 545000
    46000 33000
    541000 512000
    1053000
    88000
    965000

    88000
    97000
    185000

    0
    0
    0

    1150000
    0
    1150000
    0
    1150000
    19500
    1130500
    0
    1130500

    271320
    Section 4(a) - Business Income:
    Profit before tax
    (+) Non-allowable expense:
    Depreciation
    General Provision
    Salaries
    EPF 740000 - 116850
    Bonus
    Entertainment
    Royalty

    (-)
    interest from CIMB
    Interest from Maybank
    Dividend income

    Adjusted business income


    (+)Balancing charge

    (-) Industrial Building Allowance & Capital Allowance


    Statutory Business Income
    (-) Unabsorbed Business Loss b/f

    Section 4(a) - Interest & Dividend Income:


    interest from CIMB
    Interest from Maybank
    Statutory Interest & Dividend Income

    Section 4(d) - Rental & Royalty Income:


    Statutory Rental Income
    Statutory Royalty Income
    Statutory Rental & Royalty Income

    Aggregate Income
    (-)Current Year Business Loss
    Defined Aggregate Income
    (-) Pre-operational Business Expenditure

    (-)Approved Donations

    (-) Zakat
    Total/Chargeable Income

    Income Tax Payable 1501 500 x 24%


    RM RM RM
    (-) (+)

    1695000

    16000
    40000
    0
    0
    0
    7500
    18000

    3000
    1000
    36000
    40000 1776500
    -40000
    1736500
    3000
    1739500
    212000
    1527500
    30000
    1497500

    3000
    1000
    4000

    0
    0
    0

    1501500
    0
    1501500
    0
    1501500
    0
    1501500
    0
    1501500

    360360
    Aggregate Income
    (-)Current Year Business Loss
    Defined Aggregate Income
    (-) Pre-operational Business Expenditure

    (-)Approved Donations

    (-) Zakat
    Total/Chargeable Income

    Income Tax Payable


    YA 2021 YA 2022
    RM RM RM RM
    (-) (+)
    670000 870000
    0 0
    670000 870000
    0 0
    670000 870000
    60000 187000
    610000 683000
    15000 21750
    595000 661250

    101150 158700

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