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Required: Part B and Part C.

o Assignment 02 6 Marks: 10 "Taxable Income and Tax Liability" Question Mr. Toor a Provincial Government employee of Pakistan was deputed on the official task in Florida in 2016. He returned to Pakistan in July 2020 and remained in Pakistan for the period of I year. For the tax year 2021, following are the details of his incomes and other particulars: Monthly basic salary 2. Bonus 3. Adhoc allowance 4. Furnished accommodation provided by employer 5. Utilities paid by employer 6. Monthly medical allowance 7. Additional allowance paid by the employer 8. Conveyance provided for personal use Value of car purchased by the employer 9. Interest-free loan taken from employer 10. Zakat paid I I. Investment in shares Ofa public company listed on Stock Exchange of Pakistan Requirement: For the tax year 2021 , determine for Mr. Toor: a) Residential status b) Taxable income c) Tax liability Rs. 120,000 90,000 50,000 200,000 80,000 50,000 150,000 2,150,000 50,000 100,000 (1 Mark) (6 Marks) (3 Marks) You MUST provide all the calculations in DETAIL as each calculation carry marks. You MUST mention the relevant section/clause of the ITO 2001 and Income Tax Rules 2002 for the tax year 2021 to support our answer and calculations as these car marks.