Q No. 04: Compute Tax payable by Mr. Arshad Mehmood, who received following emoluments (10) Rs. 40,000/- P.M. o Rs. 3,000,000/- o Free during the tax year ended on 30h June 2020; o Basic Salary (30,000-5,000-65,000) . Concessional Loan obtained from employer @ 8% p.a. accommodation provided by the employer. He was entitled to a house allowance of Rs. 288,000/- if such accommodation was not provided. o Cost of motor vehicle provided by employer partly for personal and official use. o Bonus Provided. Rs. 1,400,000/- Rs. 212,000/- o Rs. 50,000/- o Medical Allowance provided. Entertainment Allowance. Rs. 350,000/- o Rs. 75,000/- o Travelling Allowance Utilities Allowance. Rs. 250,000/- o Overtime .Rs. 200,000/- o Mr. Arshad Mehmood paid donation for charitable purposes to an institution Rs. 120,000/- recognized by FBR. o Deduction of tax by the employer at source amounting. Rs. 3,366/- Note: 1. Consider tax rate @ 5% for the taxable income exceeding Rs. 1,200,000/-