Question 3. Marks 8 M/s Khalid and Aamir, a registered firm, has following details regarding rental income from property for the tax year 2021. Rent per month Security deposit received 8 year ago as nonadjustable rent Repair and maintenance for the whole year - Insurance premium Rs. 540,000 Rs. 800,000 Rs. 1,220,000 Rs. 350,000 Required: Compute taxable income of M/s Khalid and Aamir from property and income tax thereon under following options where M/s Khalid and Aamir opts for: a) Final Tax Regime (Marks 4) b) Normal Tax Regime (Marks 4) Question 4 Marks 7 Ms. Shaheena incurred following transactions during the tax year 2020. Jan 2020 - Sold 1,000 shares of Sitara Ltd. at listed price of Rs. 150 per share which were acquired in 2015 at cost of Rs. 50 per share. Paid commission to broker amounting to Rs. 5,000. Apr 2020 - Sold a plot for Rs. 20,000,000 which she purchased during Feb 2018 for 14,500,000. Paid commission to dealer Rs. 100,000. May 2020 - Sold 2,000 shares of Surkhaab (Pvt) Ltd. for Rs. 150 each. These shares were gifted by her husband 2 year ago when the fair value of these shares was Rs. 90 each. June 2020 - Sold personal car for Rs 1,800,000 to a family friend, however, market value of the car was at the time sale was 2,100,000. Required: a) Compute capital gain arisen to Ms. Shaheena and income tax thereon. (Marks 5) b) Which tax regime shall apply to each of the capital gain. (Marks 2)