En. Mahadan Yusoff, is a operation manager of Telco network Bhd. He has been employed by...

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En. Mahadan Yusoff, is a operation manager of Telco network Bhd. He has been employed by the company since 1 May 2014. He reported the following income and benefit for the year ended 31 December 2021. Salary Entertainment allowance Bonus for 2021 Lump sum received from unapproved fund (employee contribution RM24,000) (employer contribution RM36,000) RM10,000) (Interest earned RM 5,000/month 1,000/month 2 months salary 70,000 Under the company's employee share option scheme he was offered an option to take up 3,000 shares at RM2.50 per share on 1 May 2021. He exercised the option on 31 December 2021. The market value of the share at the option date and the exercised date is RM4 and RM 5 respectively. A company car which cost RM125,000 at the date he received since year 2015 and a driver employed by the company at a salary of RM900 per month. Petrol was also provided by the company. On Mac 2021, he moved into a fully furnished Bungalow provided by the company Defined value for the unfurnished bungalow is RM3,000/month. Utility billed reimbursed by the employer for year 2021 amounted to RM5,800. In 2021, En. Mahadan and his wife visited France and London. The airfare for both trip was paid by the company amounted to RM12,000. He also incurred RM5,500 in entertaining company's clients and paid RM500 per month as a rental expense to the employer. Required: Calculate the total income from employment for En. Mahadan for the year assessment 2021. En. Mahadan Yusoff, is a operation manager of Telco network Bhd. He has been employed by the company since 1 May 2014. He reported the following income and benefit for the year ended 31 December 2021. Salary Entertainment allowance Bonus for 2021 Lump sum received from unapproved fund (employee contribution RM24,000) (employer contribution RM36,000) RM10,000) (Interest earned RM 5,000/month 1,000/month 2 months salary 70,000 Under the company's employee share option scheme he was offered an option to take up 3,000 shares at RM2.50 per share on 1 May 2021. He exercised the option on 31 December 2021. The market value of the share at the option date and the exercised date is RM4 and RM 5 respectively. A company car which cost RM125,000 at the date he received since year 2015 and a driver employed by the company at a salary of RM900 per month. Petrol was also provided by the company. On Mac 2021, he moved into a fully furnished Bungalow provided by the company Defined value for the unfurnished bungalow is RM3,000/month. Utility billed reimbursed by the employer for year 2021 amounted to RM5,800. In 2021, En. Mahadan and his wife visited France and London. The airfare for both trip was paid by the company amounted to RM12,000. He also incurred RM5,500 in entertaining company's clients and paid RM500 per month as a rental expense to the employer. Required: Calculate the total income from employment for En. Mahadan for the year assessment 2021.

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