Q No. 04: Compute Tax payable by Mr. Arshad Mehmood, who received following emoluments during the tax year ended on 30th June 2020; (10) o Basic Salary (30,000-5,000-65,000) ..Rs. 40,000/- P.M. o Concessional Loan obtained from employer @ 8% p.a .Rs. 3,000,000/- o Free accommodation provided by the employer. He was entitled to a house allowance of Rs. 288,000/- if such accommodation was not provided. o Cost of motor vehicle provided by employer partly for personal and official use.Rs. 1,400,000/- o Bonus ProvidedRs. 212,000/- o Medical Allowance provided..Rs. 50,000/- o Entertainment Allowance ... Rs. 350,000/- o Travelling Allowance .... Rs. 75,000/- o Utilities Allowance ..................... Rs. 250,000/- o Overtime .... Rs. 200,000/- o Mr. Arshad Mehmood paid donation for charitable purposes to an institution recognized by FBRRs. 120,000/- o Deduction of tax by the employer 1. Consider tax rate @ 5% for the taxable income exceeding Rs. 1,200,000/