b) Mr. Akbar is an employee in Kehkashan Ltd based in Karachi. He was provide following pay and benefits in TY 2020. Pay/Benefits Amounts in PKR Basic Pay 50,000 p/m Dearness Allowance 10,000 p/m An option was given by his employer to avail the accommodation or receive Rs. 30,000 p/m in cash, but employee preferred accommodation An amount of 800,000 was given by employer to his employee for the renovation of house and he applied 0% interest on this loan A drivers salary was paid by his employer @ 15,000 p/m Compute his taxable income and tax liability for TY 2020 Note: KIBOR rate is 7%

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