MCQS FROM PAST EXAMS
- Date December 17, 2021
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Question 1 of 33
1. Question
On 14th August 1947, the Government of Pakistan adopted the Income Tax Act:
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Question 2 of 33
2. Question
Which enactment was replaced by the Income Tax Ordinance,2001:
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Question 3 of 33
3. Question
Which is latest income tax law being enforce in Pakistan’?
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Question 4 of 33
4. Question
Income Tax Ordinance contains:
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Question 5 of 33
5. Question
Income Tax Rules were introduced in:
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Question 6 of 33
6. Question
Latest amnesty Scheme was introduced by the government in
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Question 7 of 33
7. Question
Tax rates and methods to compute tax is laid down in the finance act every:
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Question 8 of 33
8. Question
Following can levy tax in Pakistan
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Question 9 of 33
9. Question
There are a total 14 schedule in the ITO 2001 and exemption are mentioned in the
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Question 10 of 33
10. Question
Tax Rates are mentioned in the:
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Question 11 of 33
11. Question
Total receipts of M/S Bahria Town company for the tax year 2020 are Rs 1,000,000/- and total expenditure incurred is Rs 500,000/-. It also paid Zakat to its low income employees of Rs 100,000/-
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Question 12 of 33
12. Question
Dharna Looser, an AOP of five person earned a loss of Rs 100,000/- from lease of trucks
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Question 13 of 33
13. Question
Dr Seemi Jamali received a wrist watch having fair market value of Rs 20,000/- from his patient who came alive out of operation theatre. Fair Market Value of the watch is chargeable to tax under head of:
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Question 14 of 33
14. Question
MIAN BROTHERS AND LOTS OF CHILDREN (unlimited) an AOP is running a business of Sugar and Chicken at Khanozai, Muslim Bagh Balochistan. All of its partners are non-resident and business in only partly managed in Balochistan. The AOP is:
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Question 15 of 33
15. Question
As per Income Tax Ordinance, following is not an income tax authority
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Question 16 of 33
16. Question
Biden, Borris and Justin are three joint owners of a plaza in Nangar Parkar. Each of them receives rent one of the three flours. They should be
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Question 17 of 33
17. Question
Receipt of income means:
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Question 18 of 33
18. Question
Bench Mark rate as define in the section 13 is:
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Question 19 of 33
19. Question
Taxpayer means a person:
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Question 20 of 33
20. Question
Tax liability of a full-time teacher or researcher employed in government and training institution under the head salary stands reduced by
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Question 21 of 33
21. Question
Following deductions are allowed under the head income from property:
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Question 22 of 33
22. Question
FTO stands for
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Question 23 of 33
23. Question
The Commissioner discovered on 01/7/2021 that a person has incurred an unexplained expenditure. In which year it will be taxed
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Question 24 of 33
24. Question
Pre-Commencement expenditure for plant and machinery is allowed to the extent of
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Question 25 of 33
25. Question
Zakat paid to relatives is
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Question 26 of 33
26. Question
A person is known as salaried person if his salary income:
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Question 27 of 33
27. Question
Personal Insurance premium expenses incurred by taxpayer are entitled for
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Question 28 of 33
28. Question
Income from Salary is computed u/s
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Question 29 of 33
29. Question
If a person whose name does not appear in Active Taxpayers List withdraws cash Rs 500,000/- in a day the banking company shall at the time of making payment will deduct tax at the rate of
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Question 30 of 33
30. Question
Special allowance includes:
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Question 31 of 33
31. Question
Accumulated balance of a recognized provident fund which is due and payable to an employee is
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Question 32 of 33
32. Question
The limit of tax credit u/s 61(2) of the income tax ordinance 2001 for charitable donations for companies is
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Question 33 of 33
33. Question
For the tax year commencing on the 1st July 2020 bench mark rate means
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