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Question No. 4. Mr. Bashir and Mr. Jameel jointly own a house in Lahore. Bashir has 75% share in house. On July 1, 2019, the

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Question No. 4. Mr. Bashir and Mr. Jameel jointly own a house in Lahore. Bashir has 75% share in house. On July 1, 2019, the house was let out at any annual rental value of Rs: 6,500,000/-. The amount includes Rs:186000/ month for utilities, cleaning and security. During the year the owners incurred the following expenditures in relation to the house. Utilities, cleaning and security Rs: 650,000/- Repair & Maintenance Rs: 810,000/- Bashir & Jameel have no other source of income. All above expenses were incurred jointly Required: Calculate tax liability of Bashir and Jameel for the tax year 2019-20 20 Marks

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