QUESTION 4 (20 MARKS: 36 MINUTES) A. Explain the special deduction for cooperative society under Income Tax Act 1967. (4 Marks) B. Sintokyo Traders Association (STA) is a trade association established five (5) years ago. For the year ending 31 December 2020, STA reported the following income and expenses: Note RM RM Income: Donations 1 300,000 Entrance and subscription fees 2 70,000 Webinar fees 240,000 610,000 Expenses: Staff remuneration 60,000 Audit and tax filing fees 10,000 Stationery 4,500 Maintenance of website 13,000 Promotion for webinar 3,500 Telephone, postage, and stationery 25,000 Installation of curtain blind in office 2,000 (118,000) Audited Net Profit before Tax 492,000 Note: 1. 30% of the donation is for the replacement of the premise roof. 2. A fee of RM50 per person charged for 200 newly joined members. Additional information: Capital allowance for year of assessment 2020 was RM40,000. REQUIRED: Compute the chargeable income of Sintokyo Traders Association for the year of assessment 2020. (16 Marks)