1. Pretty Sdn. Bhd. Commenced business on 1 April 2013 and closes its accounts on 30 September 2013, and thereafter on 30 September annually. For the year of assessment 2015, Pretty Sdn. Bhd. Submitted tax estimated amounting to RM95,000. On the 20th of the relevant months, the company revised the estimated tax payable to RM120,000 and RM160,000 respectively. However the actual tax payable turned out to be RM234,000. Required: a. Calculate the amount of final tax payment of tax including penalty (if any) that Pretty Sdn. Bhd. Has to pay to the Inland Revenue Board (IRB). b. For the year of assessment 2016, state the minimum amount of estimated tax payable to be furnished and the date the estimated tax need to be submitted to Inland Revenue Board. 2. Sinaran Sdn. Bhd. closes its accounts on 30 April every year. For the year of assessment 2015, the company recorded chargeable income of RM750,000. On 1 April 2014, the company had submitted its estimation of tax for the year of assessment 2015 amounting to RM170,000. The company is subjected to corporate tax of 25% Required: a. Illustrate whether the Inland Revenue Board (IRB) will impose penalty on Sinaran Sdn. Bhd. Due to underestimation of income tax payable. b. Identify the deadline for Sinaran Sdn. Bhd. To amend its tax return. 3. Clever Girl Sdn. Bhd. (CGSB) commenced manufacturing business on 1 April 2010 with a paid up ordinary share capital of RM3.6 million. CGSB decided to close its financial year on 31 March each year. 1. Pretty Sdn. Bhd. Commenced business on 1 April 2013 and closes its accounts on 30 September 2013, and thereafter on 30 September annually. For the year of assessment 2015, Pretty Sdn. Bhd. Submitted tax estimated amounting to RM95,000. On the 20th of the relevant months, the company revised the estimated tax payable to RM120,000 and RM160,000 respectively. However the actual tax payable turned out to be RM234,000. Required: a. Calculate the amount of final tax payment of tax including penalty (if any) that Pretty Sdn. Bhd. Has to pay to the Inland Revenue Board (IRB). b. For the year of assessment 2016, state the minimum amount of estimated tax payable to be furnished and the date the estimated tax need to be submitted to Inland Revenue Board. 2. Sinaran Sdn. Bhd. closes its accounts on 30 April every year. For the year of assessment 2015, the company recorded chargeable income of RM750,000. On 1 April 2014, the company had submitted its estimation of tax for the year of assessment 2015 amounting to RM170,000. The company is subjected to corporate tax of 25% Required: a. Illustrate whether the Inland Revenue Board (IRB) will impose penalty on Sinaran Sdn. Bhd. Due to underestimation of income tax payable. b. Identify the deadline for Sinaran Sdn. Bhd. To amend its tax return. 3. Clever Girl Sdn. Bhd. (CGSB) commenced manufacturing business on 1 April 2010 with a paid up ordinary share capital of RM3.6 million. CGSB decided to close its financial year on 31 March each year
