Q4: Mr. Bilal is an employee of King Brands Ltd. (a listed Co). In tax year 2021, his basic salary aggregated to Rs. 1,500,000. The company offered him shares option for acquiring 5,000 shares under employee share scheme. Cost of option amounted to Rs. 1,000. He exercised the option @ Rs. 50/share on 1st September, 2020. Fair market value (FMV) at the time of exercise of shares was Rs. 70/share. After holding the shares for a period of 202 days, he disposed them off at: a) Rs 90 / share b) Rs 40 / share Required In each of the above scenarios, compute Mr. Bilals taxable income and tax liability for tax year 2021. (6 Marks)