You are required to calculate the taxable income and tax payable of Mr. Ahmer for the tax year 2019 who is a teacher person working in a private university MTS(80,000-8000-520,000)

Basic salary 70000 p.m

Dearness allowance 30,000

Medical allowance 375000

Reward for passing departmental examination 30,000

Loan taken from employer @6%

14,00,000

Employee's contribution to recognized provident fund 100,000

Equal contribution by employer

Interest on recognized provident fund @ 18%

60,000

Rent free unfurnished accommodation is provided by the employer

Car provided by employer for office and personal use.

Cost of acquisition of conveyance is Rs.27800,000.