Mr. Kamal furnish the following income details of previous income year. - Rent from natural resources of Rs 425,000 (Net). - Royalty income Rs 85,000…

Mr. Kamal furnish the following income details of previous income year.
- Rent from natural resources of Rs 425,000 (Net).
- Royalty income Rs 85,000 (Net).
- Dividend from the foreign country Rs 100,000.
- Compensation received Rs 63,000.
- Bad debts recovered (20% not allowed previously) Rs 10,000.
- Interest received from private money lending transaction Rs 170,000 (Net).
- Gain from the investing insurance Rs 190,000 (Net).
- Rent received for letting machinery Rs 360,000 after TDS Rs 40,000.
- Income from joint investment Rs 100,000. Mr. Jhalak is the investment partner with 20% share.
- Interest from the fixed deposit Rs 20,000 (Net).
- Gift from the client with market value Rs 9,000.
- Wind fall gain Rs 15,000 (Net).
- Payment received from the natural resources after TDS Rs 8,500.

Following expenses are claimed for deduction:
- Cost of lottery ticket Rs 500.
- Joint investment expenses Rs 10,000.
- Royalty collection charge Rs 4,000.
- Allowable depreciation of machinery Rs 20,000.
- Rent paid for office Rs 42,000.
- Personal expenses Rs 20,000.

Required:
(a) Net assessable income from investment
(b) Statement of total taxable income
(c) Tax liabilities