En$.$ Segar had acquired a landed property from Mr$.$ Kamal for RM$274,725.$ He signed the agreement on $15$ July $2016$ and settled the payment using a bank loan on $30$ September $2016.$ The property ownership was then transferred to his name on $30$ November $2016.$ In acquiring the property, En$.$ Segar incurred stamp duty of RM$4,495$ and legal fees of RM$2,373.$

Upon acquisition, En$.$ Segar spent RM$37,851$ on extending and renovating the property. On $10$ April $2017,$ the property was partially damaged by fire and he received insurance compensation of RM$48,420.$ In September $2017,$ the property was flooded and he managed to make an insurance recovery of RM$12,088$ from his insurer.

In October $2018,$ En$.$ Segar was approached by a buyer to purchase the property who paid a deposit of RM$6,600$ and proceeded to make an application for a bank loan. The buyer however, was not successful in his application and as per the agreement, En Segar then forfeited the deposit of RM$6,600.$

En$.$ Segar$$s ex$-$wife had filed a claim on the property and En Segar retained a lawyer to successfully defend his right to total ownership. The legal fee was RM$7,700.$

En$.$ Segar sold the property to Raymond for RM$354,200$ and an agreement for the sale was signed on $15$ April $2019.$ The payment was fully settled on $16$ May $2019.$ The ownership was transferred to Raymond on $17$ June $2019.$

In securing a buyer for the property, En Segar had incurred the following expenditure:

i$)$ valuation fee RM$5,495$

ii$)$ brokerage fee RM$7,692$

iii$)$ advertisement: RM$977$

En$.$ Segar had incurred an interest charge of RM$51,318$ on the bank loan he took to buy the property.

Required:

a$)$ In relation to the Real Property Gains Tax $1976($as amended$),$ compute the chargeable gain arising from the disposal of the property, after exemption under Schedule $4$ of the said Act. $(20$ marks$)$

$($b$)$ En$.$ Segar have another property, a piece of vacant land. On $11$ December $2019,$ his land costing RM$240,000,$ was compulsorily acquired by the Government for the construction of a railway station. He received compensation of RM$550,000.$

Required: Discuss the tax implication on the receipt of compensation of RM$550,000.(5$ marks$)$