Question # 15 of 15 () Total Marks: 1
Which one of the following principle of tax emphasized, that the taxation policy should be designed in such a way to boost business atmosphere and the investment environment in the country?
Convenience
Judicious
Capacity to Pay
Business friendly
Question # 14 of 15 () Total Marks: 1
Income tax ordinance, 2001 became effective from which of the following date?
a) 1st July 2001
b) 13th September 2001
c) 1st July 2002 (5)
d) 13th September 2002
Question # 13 of 15 () Total Marks: 1
Which of the following person fulfilled the criteria of a Taxpayer?
a) Any representative of a person who derives an amount chargeable to tax
b) Any person who is required to deduct or collect tax
c) Any person required to furnish a return of income
d) All of the given options
Question # 12 of 15 () Total Marks: 1
What is the residential status of Provincial Government of Pakistan?
a) Resident Individual
b) Resident Company
c) Resident AOP
d) Resident HUF
Question # 11 of 15 () Total Marks: 1
Mr. Z resident of Pakistan received dividend amounting Rs. 10,000 in UK from UK
a) Added in total income (33)
b) Subtracted from the total income
c) Added in income after tax
d) Exempt from tax
Question # 10 of 15 () Total Marks: 1
A definition that excludes the dictionary meanings of the word is termed as:
a) Exclusive definition (8)
b) Inclusive definition
c) Both Inclusive definitions
d) Statutory definition
Question # 9 of 15 () Total Marks: 1
Which of the following is the deductible allowance from the income of an individual?
a) Zakat
b) Worker’s Welfare Fund
c) Work’s Participation Fund
d) All of the given options (40)
Question # 8 of 15 () Total Marks: 1
Which of the following is the Special Accounting Year of Companies exporting rice?
a) 1st January to 31st December (11)
b) 1st July to 30th June
c) 1st October to 30th September
d) 1st September to 31st August
Question # 7 of 15 () Total Marks: 1
A firm ABC maintaining its account in accrual basis, at June 27, 2008 it is entitled to receive Rs. 10,000 but actual payments made at 01 August 2008. In which year it is charged to tax?
a) 2006
b) 2007
c) 2008
d) 2009
Question # 6 of 15 () Total Marks: 1
Mr. X resident of Pakistan remittance from UK received Rs. 20,000 in Pakistan
a) Mr. X being resident of Pakistan Rs. 20,000 will be added in Gross total income
b) Mr. X being resident of Pakistan Rs. 20,000 will be Subtracted in Gross total income
c) Mr. X being non-resident of Pakistan Rs. 20,000 will be added in Gross total income
d) None of the given options (33)
Question # 5 of 15 () Total Marks: 1
Which one of the following is the general meaning of Tax?
a) Relax
b) Lighten
c) Relieve
d) Fatigue
Question # 4 of 15 () Total Marks: 1
What is the residential status of Federal Government of Pakistan?
a) Resident Person
b) Resident Company
c) Resident AOP
d) Resident HUF
Question # 3 of 15 () Total Marks: 1
In Income Tax Ordinance 2001 tax concessions meant for which of the following?
a) Reduction in tax liability
b) Reduction in tax rate
c) Reduction in taxable Income
d) All of the given options
Question # 2 of 15 () Total Marks: 1
Which of the following incomes are treated as agriculture income?
Agro based industry
Spontaneous forests
Interest received by a farmer on lending
Income from land situated in Pakistan
Question # 1 of 15 () Total Marks: 1
Which of the following section deal with tax treatment of person who is a cultivator or receiver of agricultural produce as rent-in-kind in the business of cultivator?
Rule 11 of the IT Rule 2002
Section 40 of the Income Tax Ordinance 2001
Section 41 of the Income Tax Ordinance 2001
Section 42 of the Income Tax Ordinance 2001
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