Professor Amadu Komsa Azzonto, a 45-year old disabled man who is married to four wives and has been blessed with six children and has all the children together with four maidservants-aged between11and 13 years attending approved schools in Twenbeweate in the Bono Region of Ghana. Professor Komsa is the breadwinner for the entire extended family. He takes care of the most family members including his 180-year old father, 100 year old mother-in law and 65year old aunty. He is the President of Yentoa University Colledge of Taxation in the Single Room Self-Contain Consistency in Ghana. As a President, his monthly entitlements include; basic salary GH6,800, Garden Boy allowance GH900, risk allowance 25% of basic salary, clothing allowance GH2,800, entertainment allowance GH5,000, responsibility allowance GH3,500 and security allowance GH2,500. In the year 2018, Professor Komsa received a loan of GH36,000 (interest rate 6%) from the University and the loan will be paid back by him in December 2020. He also received GH16,640 as a performance incentive in 2018 from the University for contributing immensely to the achievement of its goals.

In December 2018, the university graduated thousands of students and that, as a president of the university, professor Komsa worked beyond the normal working hours where he received GH16,000 as overtime payment. He lives in a fully-furnished rented Trassacco house located at Cantonments in respect of which he pays GH120 per month. He is also entitled to a V8 car fuelled and driven by a driver provided by the University. The University pays medical cost per annum of GH1,600 and all the first and second tier pension contributions available to all the employees. His monthly PAYE Tax' withheld and paid by the university is GH320. Professor Komsa thinking about his departure from the physical world to the spiritual world, subscribed to the SIC life assurance policy and pays monthly premium of GH340 for sum assured of GH320,000 in the event of Death. Professor Komsa is a renowned tax expert and senior lecturer. For these reasons, he serves as the Board Chairman of Arise Company Limited and receives a semi-annual directors fees of GH3,200 after tax. He is also a Part-time Lecturer at the University of KyweeeW and receives GH 9000 after tax for every six months starting from 1^st January to 31^st December 2018. He received GH 9,000 rent from his tenant from his house in Sunyani.

On 15^th December 2018, he was provided with a goat (market value GH500), toilet roll, rice, drinks and drinks valued at GH4000. He purchased 10 plots of lands at Kasapin, each plot measuring 70*100 at a total cost of GH300,000 in January 2018 and walled the land at a cost of GH30,000. On 1^st July 2018, he sold three out of the 10 plots for GH37,000. The market value of the unsold land is GH280,000. He incurred an incidental expenses to the tune of GH 900 at the time of realization. Professor Komsa operates a clothing line business in Tamale. For the year ended 31^st December 2018, he declared a net profit of GH500,000 from the business. The business expenses included the following:

	GH
Audit fees	800
Management salaries	36,000
Provision for bad and doubtful debt	30,0000
Electricity	7,000
Depreciation	16,600
Provident Fund Employers Contribution	4,000
Provision against long outstanding items	12,900
Office rent (1)	2,400
Medical benefits	1,600
Exchange gains	36,200

The following additional information is available for the purpose of the account prepared for the year ended December 31, 2018.

Notes

1. The rent is for the 2018 year of assessment, but was paid without withholding tax.

2. The capital allowance brought forward from 2017 was GH25000 and that for the current year is GH6500. Included in the net profit is an amount of GH 900 received as net dividend from the business investment from GCB Bank Limited; and rent received GH 9000 from his tenant from his house in Sunyani.
3. The exchange gain is unrealized as at the end of the year.

You are required to compute Professor Amadu Komsa Azzontos Chargeable income and tax liability for the 2018 year of assessment.

(Hint: Bank of Ghana Monetary Policy Rate as at the end of 2018 May be Useful)