Mr. Arshad is an employee of a public listed company.

He submitted the following data for

computation of his taxable income for the tax year 2017:
Basic pay per annum 480,000
Bonus 240,000
Dearness allowance 50,000
Rent Free unfurnished accommodation 75,000
Watchman wages paid by employer 36,000
Gardner wages paid by employer 24,000
Sweeper wages paid by employer 6,000
Employer’s contribution towards recognized provident fund 24,000
Interest on Provident fund balance @18% 18,000
Company maintained car for official and private use 1300CC. The said car
was acquired three years earlier. The cost of acquisition of vehicle was
Rs. 850,000.
Reimbursement of medical expenditure 50,000
Utilities bills paid by the company :
Telephone 12,000
Electricity bills paid by employer 15,000
Gas Bills paid by employer 6,000
Water bills paid by employer 9,000
Leave fare assistance (for the first time) 50,000
Commission income for securing a contract paid by the
employer 30,000
Due to some health issue, he resigned from the job and following further sums
were paid to him:
Provident Fund recognized 150,000
Gratuity Fund unrecognized 70,000
Another company car has also been handed over to Mr. Arshad for a
consideration of Rs. 285,000 whereas the book value of the said car was
Rs. 435,200. He immediately sold the car at Rs. 600,000.
Required:
Compute the taxable income of Mr. Arshad for the tax year 2017.