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Question 4: (25 marks) Bin Ltd's Profit & Loss account for the year ended 31 December 2020 is as follows: Income Rs 000 2,520 1,038
Question 4: (25 marks) Bin Ltd's Profit & Loss account for the year ended 31 December 2020 is as follows: Income Rs 000 2,520 1,038 Mauritian Rental Income Dividends from companies Interest receivable 360 3,918 Expenses on Interest on overdraft and short term loans Debenture Interest Management Fees Audit Fees Licences Municipal taxes rental properties Depreciation Repairs and maintenance Electricity Syndic charges Printing, postage and stationery Commission Accountancy Fees Directors Fees Secretarial Fees Bank charges Share issue expenses 279 514 462 45 8 207 302 59 1 221 24 27 49 * 17 175 154 95 179 2.791 1,127 Net Profit Required: Prepare the company's income tax computation for the year of assessment 2020/2021 given that the company is entitled to an annual allowance of Rs300,000. All workings must be clearly shown (25 marks)
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