INCOME FROM CAPITAL GAIN AND INCOME FROM OTHER SOURCES
- Date December 16, 2021
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Question 1 of 45
1. Question
Capital assets means property of any kind held by a person
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Question 2 of 45
2. Question
For the tax year 2021 an open plot will be exempt form tax under capital gains, where holding period exceeds.
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Question 3 of 45
3. Question
For the tax year 2021 a constructive immovable property will be exempt from tax under capital gains, where holding period exceeds
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Question 4 of 45
4. Question
Capital gain is the difference between
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Question 5 of 45
5. Question
Where the holding period of the capital asset is below one year percentage of gain shall be added in the taxable income
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Question 6 of 45
6. Question
Where the holding period of the capital asset is more than one year and below two years percentage of gain shall be added in the taxable income
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Question 7 of 45
7. Question
Where the holding period of the capital asset is more than two years and below three years percentage of gain shall be added in the taxable income
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Question 8 of 45
8. Question
Where the holding period of the capital asset is more than three years and below four years percentage of gain shall be added in the taxable income
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Question 9 of 45
9. Question
Tax on capital gain on disposal of immovable property where amount of gain does not exceed 5 million is:
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Question 10 of 45
10. Question
Tax on capital gain on dispowsal of immovable property where amount of gain exceeds 5 milion but does not exceed 10 million is:
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Question 11 of 45
11. Question
Tax on capital on disposal of immovable property where amount of gain exceeds 10 million but does not exceed 15 million is
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Question 12 of 45
12. Question
Tax on capital gain on disposal of immovable property where amount of gain exceeds 15 million
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Question 13 of 45
13. Question
Where the capital asset become the property of the person under gift, by succession, inheritance or devolution, a distribution of assets on dissolution of an association of person or on distribution of assets on dissolution of assets on liquidation of the company, cost for the purpose of calculating gain under section 37 will be:
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Question 14 of 45
14. Question
Capital assets does not include
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Question 15 of 45
15. Question
As per section 37 property which is entitled for depreciation or amortization is
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Question 16 of 45
16. Question
Capital asset includes immovable assets
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Question 17 of 45
17. Question
Capital asset includes immoveable assets
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Question 18 of 45
18. Question
As per section 37A security means
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Question 19 of 45
19. Question
Capital gain on disposal of securities is
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Question 20 of 45
20. Question
Gain on disposal of security is the difference between
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Question 21 of 45
21. Question
Provision of section 37A shall not apply to
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Question 22 of 45
22. Question
Gain on securities acquired before 1st July 2013 and disposed in tax ear 2021 will be taxed at
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Question 23 of 45
23. Question
Gain on securities acquired after 1st July 2013 and disposed in tax year 2021 will be taxed at
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Question 24 of 45
24. Question
Gain on disposal of future commodity contract entered into by members of Pakistan mercantile exchange will be taxed in 2021 at the rate
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Question 25 of 45
25. Question
Any loss on disposal of security will be set of against the _____ in the same tax year
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Question 26 of 45
26. Question
Loss sustained in the tax year 2019 and onwards that has not been set off against the gain shall be carried forward for
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Question 27 of 45
27. Question
No loss on disposal of capital assets shall be deducted where a gain on disposal of such asset would
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Question 28 of 45
28. Question
Loss on sale of painting
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Question 29 of 45
29. Question
No loss shall be recognized under section 38 for capital asset(s)
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Question 30 of 45
30. Question
Income of every kind not included n any other head is not other wise exempt under income tax ordinance
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Question 31 of 45
31. Question
Income chargeable to tax under the head of Income from other sources includes:
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Question 32 of 45
32. Question
Income chargeable to tax under the head of Income from other sources includes:
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Question 33 of 45
33. Question
Income from provision of amenities utilities of any other service connected with renting of building is
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Question 34 of 45
34. Question
Income chargeable to tax under the head Income from other sources includes:
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Question 35 of 45
35. Question
Income chargeable to tax under the head Income from other sources includes:
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Question 36 of 45
36. Question
Any amount received by a person as consideration for vacating the possession of a building that consideration after reducing the acquisition cost shall be charged to head Income from other sources
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Question 37 of 45
37. Question
Any icon, advance deposit, or gift received by a person from a person other than banking or financial institutes will be added to persons Income from other sources if
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Question 38 of 45
38. Question
Any amount of arears against any national saving certificates if relates to a tax year where tax rate was lower than the tax year in which the amount is actually received the person may apply _______ by due date of furnishing of return for lower tax rate.
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Question 39 of 45
39. Question
Deduction of expenditure is admission against the income chargeable to tax under the head Income from other sources except
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Question 40 of 45
40. Question
Zakat deduction on profit on debt paid to a person under Zakat and Usher Ordinance 1980 is
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Question 41 of 45
41. Question
Any amount received for renting of building along with plant and machinery is chargeable to tax under section 39 Income from other sources following deduction(s) shall be allowed:
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Question 42 of 45
42. Question
No deduction of expenditure shall be allowed against the income chargeable to tax under the head Income from other sources
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Question 43 of 45
43. Question
A gift of amount 500,000 received from a friend in cash shall be treated as:
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Question 44 of 45
44. Question
Mr. Ali receive a gift from a friend Mr. Asif through a crossed cheque but Mr. Asif do not have National Tax Number, this gift will be:
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Question 45 of 45
45. Question
Mr. Ali received profit on debt Rs. 500,000 against deposit in National Bank, the bank deducted Zakat Rs. 12,500 against that profit on debt, what will be the income chargeable to tax under the head Income from other sources
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