XYZ Associates is an HEC-approved non-profit research institution in Choonian (Small City). On July 01, 2019, Mr. Irfan joined XYZ Associates as a Junior Researcher [Tax-Free Salary BPS Rs.80,000-10,000-200,000]. On 1 st April 2020, he also obtained an interest-bearing loan of Rs. 1.4 million from the employer and paid interest Rs. 34,600 on June 30, 2020. During the tax year, he paid Rs. 6500 per month per child school tuition fee for the education of his 3 children. Zakat deducted by the bank on his savings account is Rs. 4,520. He also earned a taxable business income of Rs. 350,000 during the Tax year. Fair Market Rent is Rs. 25,000 per month. As per the terms of employment, he is also eligible for a monthly dearness allowance of Rs. 4,300. The employer-provided a house to him for the purpose of accommodation in the same city. On 1 st September 2019, Mr. Irfan obtained a loan of Rs. 1.8 million from the National bank of Pakistan @ 10% for the construction of his new house. He paid the calculated interest on 30th June 2020.

REQUIRED: Calculate for Tax Year 2020, for Mr. Irfan, the Net Tax Payable/refundable. (All workings are required)