BSAF 5-Taxation - Fall 2022 Question no. 01:- Assignment no. 2 Ahmer Ghazi has been working as director production in Delta Pakistan Limited (DPL) for last three years. He received following monthly emoluments from DPL during the year ended 30 June 2022. Basic Salary House Rent Allowance Medical Allowance Rs 650,000 Rs 95,000 Rs 70,000 (i). Health insurance for him and his family members. The amount of annual premium paid by DPL was Rs. 50,000 (ii). Return air ticket for Dubai worth Rs. 180,000 for him and his family as a reward for achieving the production target (iii). Loan of Rs. 5 million was given to him on 1 August 2021 at 6% per annum (iv). Withholding tax of Rs. 1,500,000 deducted from his salary was reimbursed to him (v). On 30 October 2020 Ahmer Ghazi let out his apartment at a monthly rent of Rs. 30,000 to his friend. The fair market rent of the apartment is Rs. 40,000 per month (vi). He is a part time singer and earned Rs. 225,000 by allowing a private TV channel to use his song in a TV drama. Required: Under the provisions of the Income Tax Ordinance, 2001 and Rules made thereunder, compute the following for the year ended 30 June 2022. a. Total income b. Taxable income c. Net tax payable or refundable