Let’s Fly Bhd (resident) is an air transportation company established in 2000. Since its establishment, the company closes its account on 30 June annually. Below is information extracted from the account for the year ended 30 June 2021:

Malaysia	Country X	Country Y
Income:
Royalty (net)	-	450,000	-
Rental (net)	-	-	85,000
Business (gross)	410,000	190,000
Tax rate	24%	10%	15%

Additional information:

1. Allowable expenses incurred for business income was RM120,000.
2. Balancing charge and capital allowance for the year of assessment 2021 were RM10,000 and RM80,000 respectively.
3. Malaysia has double taxation agreement with Country X but not with Country Y.

REQUIRED:

Compute the tax liability for Let’s Fly Bhd for the year of assessment 2021 after considering the qualified relief available under the Income Tax Act 1967.