INCOME TAX ORDINANCE PRACTICE QUESTIONS (SET-1)
- Date December 17, 2021
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Question 1 of 52
1. Question
There are Heads of Income:
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Question 2 of 52
2. Question
If an employee receives a commission from the employer then it will be taxed under the head:
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Question 3 of 52
3. Question
If an employer pays rent to an employee then it will be taxed under the Head of the employee:
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Question 4 of 52
4. Question
Any profit or consideration for a person’s agreement to enter into an employment relationship shall be taxed under the head:
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Question 5 of 52
5. Question
The amount of bonus a person receives on yearly, quarterly or monthly basis for any performance shall be taxable under the head:
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Question 6 of 52
6. Question
The amount of benefits on termination of employment, whether paid voluntarily or under an agreement, shall be under the head Salary:
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Question 7 of 52
7. Question
The amount of any compensation for redundancy or loss of employment, shall be under the head salary:
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Question 8 of 52
8. Question
The amount a person receives as consideration for an employee’s agreement to a restrictive covenant in respect of any past, present or prospective employment, shall be under the head Salary:
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Question 9 of 52
9. Question
The amount a person receives from a provident or other fund, to the extent to which the amount is not a repayment of contributions made by the employee to the fund in respect of which the employee was not entitled to a deduction, shall be under the head Salary’
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Question 10 of 52
10. Question
The amount a person receives under golden handshake on account of end of employment shall be under the head Salary:
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Question 11 of 52
11. Question
Any perquisites provided by an employer to an employee shall be treated as salary if
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Question 12 of 52
12. Question
An amount or perquisite shall be treated as received by an employee from any employment regardless of whether the amount or perquisite is paid or provided:
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Question 13 of 52
13. Question
The expenditure incurred on behalf of the employer in the performance of the employee’s duties of employment
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Question 14 of 52
14. Question
The amount of any expenditure incurred by an employee that is paid or reimbursed by the employer
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Question 15 of 52
15. Question
A person working as a soldier receives a risk allowance. His allowance will be taxed under section:
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Question 16 of 52
16. Question
Salary means any amount received by an employee from any employment, whether of a revenue or capital nature in the duration of:
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Question 17 of 52
17. Question
For the determination of Salary Head of Income, the nature of relationship must be established between the employee and the:
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Question 18 of 52
18. Question
The receiving of a perquisite by an employee is also chargeable under the Head:
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Question 19 of 52
19. Question
As per section 12(2)(c) an allowance if received, which is solely expended in the performance of the employee’s duties of employment shall be from his Salary:
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Question 20 of 52
20. Question
Following fall in the category of Salary except:
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Question 21 of 52
21. Question
Any perquisite that is received by a salaried person is:
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Question 22 of 52
22. Question
As per Section 12(4), no deduction is allowed for Income from
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Question 23 of 52
23. Question
If in a tax year, property is transferred or services are provided by an employer to an employee, the amount chargeable to tax to the employee under the head:
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Question 24 of 52
24. Question
Salary is taxable on the basis of:
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Question 25 of 52
25. Question
An MNA of National Assemble holds a public official and the amount paid to him by the government will be his income:
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Question 26 of 52
26. Question
Remuneration drawn by virtue of holding of an office or position is called:
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Question 27 of 52
27. Question
For the condition of Employment following conditions should be met except:
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Question 28 of 52
28. Question
Direct remuneration to the employee in connection with employment is taxable under the head:
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Question 29 of 52
29. Question
Indirect advantage in money or goods given by an employer to an employee under the head salary will be called:
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Question 30 of 52
30. Question
Allowances in addition to salary (except allowance solely expended in the performance of the employee’s duties) is taxable under the head:
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Question 31 of 52
31. Question
Profits in lieu of or in addition to salary or wages shall be taxable under the head:
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Question 32 of 52
32. Question
Consideration for agreeing to accept employment shall be taxable under the head
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Question 33 of 52
33. Question
Consideration (compensation) for agreeing to any conditions of employment or any changes to the conditions of employment shall be taxable under the head:
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Question 34 of 52
34. Question
Payment on termination of employment, whether paid voluntarily or under an agreement and compensation for redundancy or loss of employment and golden handshake payments shall be taxable under the head:
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Question 35 of 52
35. Question
Payment from a provident or other fund, to the extent to which the amount is not a repayment of contributions made by the employee shall be taxable under the head:
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Question 36 of 52
36. Question
Consideration for restrictions in respect of any past, present or prospective employment shall be taxable under the head:
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Question 37 of 52
37. Question
As per Section 12(3) the treatment of amount of tax where tax on salary is paid or payable by the employer shall be under the head salary:
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Question 38 of 52
38. Question
Treatment of payment under golden hand shake as per section 12(6):
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Question 39 of 52
39. Question
The employee may elect for the amount to be taxed at the rate of tax for the three preceding tax years if given a permission by the Commissioner:
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Question 40 of 52
40. Question
An employee is paid salary of Tax Year 2010 in November 2015, the tax rate applicable will be that of:
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Question 41 of 52
41. Question
As per Section 12, the annuity paid by to an employee by the employer shall be:
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Question 42 of 52
42. Question
Amount of profit at bench mark rate in case of Interest-free loan as per Section 13(7) is made part of the
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Question 43 of 52
43. Question
The amount to be included in salary if employer gives interest free loan:
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Question 44 of 52
44. Question
If an employer gives a loan to an employee which is used to acquire an asset or property which is producing income chargeable to tax, then the said loan will be
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Question 45 of 52
45. Question
Any Payment on behalf of the employee if done by the employer shall be
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Question 46 of 52
46. Question
Any Waiver of obligations on behalf of the employee if done by the employer shall be /Loans of the Employee as per section 13(9) shall be taxable under the head:
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Question 47 of 52
47. Question
Any loan payment of the Employee on behalf of the employee if done by the employer shall be as per section 13(9) shall be:
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Question 48 of 52
48. Question
An employer waives an obligation of Rs.100,0000/- owed to it by the employee. It shall be:
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Question 49 of 52
49. Question
An employee receives an advance payment of Rs.500,000/- to gay a loan to a private loan scheme. It shall be:
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Question 50 of 52
50. Question
Payment by the employer of any loan or debt owing by the employee to third person shall be
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Question 51 of 52
51. Question
Provision of any perks or services to the employee is to be included in the of the employee
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Question 52 of 52
52. Question
Transfer of property to the employee is to be included in the salary of the employee.
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