Other information: Mr Rajmohan is married to Leela Jeyaram and Mr Rajmohan has provided the followin additional particulars:

 

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Mr Rajmohan is the Chief financial officer for Johan Steel Sdn Bhd (JSSB") which is a subsidiary of an Indian company based in Port Klang. He has been working with this company since 2008. He is 44 years old and a Malaysian resident Mr Rajmohan provided the following information in his income tax return for the year 2018: Salary per month Bonus for the year 2018 Service award Entertainment allowance per month Travelling allowance per month Leave passage to South Africa for family Further information provided by the taxpayer for the year 2018 is as follows: 3 RM 15,000 30,000 10,000 2,000 2,500 25,000 2. He incurred RM12,000 on entertainment expenditure on official duties. The travel allowance is for official duties. 6 Mr Rajmohan was given the option to buy 10,000 units of the company's shares at the price of RM10 per share on 1 June 2018. The market value at that time was RM12 per share. He exercised his option on 21 November 2018 when the price was RM14 per share. The company (JSSB") provided a fully furnished bungalow to Rajmohan. The rental of RM12.000 (including RM1.000 for furnishings) was paid for by the company. The company also paid for the gardener to look after the extensive garden. He was provided with a new luxury car costing RM350,000 from the year 2015. JSSB bears the cost of fuel and repairs for Rajmohan. The company also provided him with a driver Mr Rajmohan took an interest free loan of RM120,000 from his employer to finance the purchase of his second car. The loan was given from the equity funds of the employer The interest payable for the loan would have been RM15,000 if it had been borrowed from a Malaysian commercial bank Mr Rajmohan is the Chief financial officer for Johan Steel Sdn Bhd (JSSB") which is a subsidiary of an Indian company based in Port Klang. He has been working with this company since 2008. He is 44 years old and a Malaysian resident Mr Rajmohan provided the following information in his income tax return for the year 2018: Salary per month Bonus for the year 2018 Service award Entertainment allowance per month Travelling allowance per month Leave passage to South Africa for family Further information provided by the taxpayer for the year 2018 is as follows: 3 RM 15,000 30,000 10,000 2,000 2,500 25,000 2. He incurred RM12,000 on entertainment expenditure on official duties. The travel allowance is for official duties. 6 Mr Rajmohan was given the option to buy 10,000 units of the company's shares at the price of RM10 per share on 1 June 2018. The market value at that time was RM12 per share. He exercised his option on 21 November 2018 when the price was RM14 per share. The company (JSSB") provided a fully furnished bungalow to Rajmohan. The rental of RM12.000 (including RM1.000 for furnishings) was paid for by the company. The company also paid for the gardener to look after the extensive garden. He was provided with a new luxury car costing RM350,000 from the year 2015. JSSB bears the cost of fuel and repairs for Rajmohan. The company also provided him with a driver Mr Rajmohan took an interest free loan of RM120,000 from his employer to finance the purchase of his second car. The loan was given from the equity funds of the employer The interest payable for the loan would have been RM15,000 if it had been borrowed from a Malaysian commercial bank

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The detailed answer for the above question is provided below Comp ute the total income and the income tax payable by Mr Raj m ohan for the year of assessment 2018 Le ela J ey aram has elected for join... View the full answer