Gogo Limited is a company with principal business of trading of electronic products in Hong

Kong. In respect of the year ended $31$ March $2023,$ the company has the following results:$-$

Notes:

Compensation received

$($i$)$ from a customer for early termination of one of the trading contracts

$($ii$)$ from landlord for early termination of lease of office

Rental income

From properties situated in China

$[600,000],[360,000],[960,000]$

Interest income

Page $1$ of $2$

Interest paid to:

a shareholder, Mr$.$ Chu, for loan obtained to finance daily operation

an unrelated company carries on business in HK for loan obtained for

director's private use

Legal fee for

preparing tenancy agreement for the lease of new office

collection of trade debts

$68,200$

$126,000194,200$

MPF Contribution paid

Motor vehicle expenses:

Repairs

Repairs of copier

Initial addition of curtain for new office

Overseas bus Overseas privation Travelling allowa

The assessor has agreed that the total depreciation allowances for the year of assessment

$\frac{2022}{23}$ is $$300,200.$

REQUIRED

Calculate the profits tax payable, if any, by Gogo Limited $($no connected entity$)$ for the

year of assessment $2022/23.($Ignore provisional profits tax and tax rebate.$)$