From the following information calculate taxable income and tax liability of Mr. Zawad for the income year ended 30th June, 2018. Basic pay Tk. 20,000 per month; House rent allowance Tk. 8000 per month; Entertainment allowance Tk. 6000 per quarter; He contributed 10% of basic salary in a recognized provident fund and his employer contributed half the amount in the fund; He contributed Tk. 5000 as the said fund as interest for the year @ 14.5%; Two festival bonuses, One for Eid-ul Fitr and another for Eid-ul-Adha. In Eid-ul-Fitr One full months basic and 50% of a full months basic in Eid-ulAdha; He received rent from his house property Tk. 400,000 during the year; whereas municipal value of the house is Tk. 320,000; He incurred Tk. 120,000 for repair and Tk. 6000 city corporation tax for the house rent during the year; He received interest from post office savings bank account Tk. 4500 and dividend from a limited company Tk. 8100; Sale of forest timber Tk. 10,000; He paid the life insurance premium of Tk. 30,000; purchased savings certificate Tk. 50,000 and also purchased primary share of a listed public company Tk. 40,000 during the year.