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Q.3. Mr. Shahzad, determine his taxable income and tax payable thereon for the tax year 2020: using following data Rs. Monthly rent received on his residential building 100,000 Repair of the house 50,000 Property taxes include tax on property income of Rs. 3,500 12,500 Salary to Mr. Riaz for collecting rent 60,000 Interest paid on HBFC's loan for house construction 62,000 Other information: Taxable salary received during the tax year 2020 Profit received on running his own business Prize on Govt. prize bonds net of 15% tax Zakat deducted by his bank during the year Tax deducted at source including tax on property income Rs. 2,650,640 2,140,350 850,000 70,650 37,500