These MCQs are collected from the Candidates of IIR test after Exam last year. Here are some Mcq's of today's test: Vision of FBR Refrence to High court can be filled within how many days? When did First law of Income Tax promulgatd in Pakistan? Filer means a tax payer who _________? Non filer means a person ________? Loss on disposal of a dereciable asset is __? Rate of default surcharge is ________? Taxes are lieved to _______? Taxes on commodities are ________? Dividend recieved by a company from a non- resident company is chargeable to tax under _______ section. Total income of a person for a tax year means _____? Example of Tax payer ________ One of the main instruments of Fiscal policy is __________ Which of the following is not a head of income decleared in Section 11 of Income Tax Ordinance, 2001? Which of the following can be adjusted against Income Tax Liability?
How many support members How many operational members How many functional members
When fbr created Senior citizen % about FBR head? Chairman - In order to remove impediments from p erforming government functions, secretary finance was separated from FBR and FBR was created Division. -English: Synonyms, blanks and Punctuation. synonyms: hackneyed, Assuage - number of functional, Supportive and Operational members. - creation of FBR from CBR? Revenue Act 2007 - KIBOR? Karachi Inter bank offered rate - Definitions from Section 2 - Promulgation dates from Acts and ordinance - Hardly 10 questions were about sections.
There were questions regarding Appeals, Income tax, Zero rating, exemptions, penalties, few questions related to Income and income tax, taxing regarding senior citizens, time period of filling of appeals etc. -Ordinance and acts contained total number of section? - Salaries from other sources? - definition of salaries - agricultural income exemptions and taxable - dividend - rent Takes rates like one has above 400,000 income what will be the tax? Etc. A senior citizen aged 55/60 his income 600,000 etc.
Repealed income tax ordinance Salried person income of 350000 in 2013 and receive dividend income 90, 000 tax on divdend pay at source was 10, 000.. what was tax libili ty of that person for year .a) zero b) 11, 000 c ) 10000 and d) none Board can make rulea under sec ? STA Tax imposed in Pakistan? national assembly tax imposed on telecom sector? 21% question regarding accounting(accrual) Number of members of FBR was asked. CBR changed into FBR when and as per what regulation When was first tax implied in Pakistan. 1949 1969 1979 2001 Discovering The World of English' By Saadat Ali Shah Example of Tax payer ____ A) WAPDA B) LESCO C) SALARIED PERSON D) ALL OF THESE
1Taxs levied by 2Exemption section in STA 3Cost and charter accountant 4 About accrual basic 5Exempted schedule in sale tax act
6Gold handshake is exempted 7Direct tax percentage in total tax revenue 8Special audit is conducted 9Reference to the high court can be fill ed within how many days 10Faliure to notify registration charge Most of the questions were related to clauses, schedules and other references of income tax and sales tax ordinance
which is not principle of taxation principle of certainity principle of economy principle of secrecy non of these ? In order to remove impediments in the exercise of administrative powers of a Secretary to the Government and effective formulation and implementation of fiscal policy measures, the status of FBR as a Revenue Division was restored under; Antonyms of the following 1. Vertiginous 2. Pervino (something like that) 3. Rabble 4. Lapidarian Agricultural Income, Sec 11A, Tariff Area Non Tariff Area (Chitral), 1) In Pakistan, the power of levy lies with: 2) Schedule No. 6 3) Zero Rated Products 4) Depreciation on plant and Machinery 5) Salary is chargeable under 6) How to receive tax payable from defaulter. 7) Non Resident person has to pay taxes on 8) Appeal Time 9) Is not function of FBR 10) Most Revenue earned form Taxes 11) Highest share in taxes are of 12) Percentage of Direct Taxes earned in Total Taxes 13) Which of the following is not intangible assets 14) Default surcharge Penalty 15) Section 13 18) Turpitude 19) Propinquity 20) Vociferous
21) Property loss can be carry forward to how many years? 22) Practice of Recovery of Income tax from a taxpayer under section 140 23) Under Sec 146B FBR can waive of: 24) Resident Owner aircrafts having their operations on Pakistan are required to file tax return in Pakistan after ________ Months… 25) Which of the following expenses can be deducted form Salary Income 26) Which of the following is an admissible deduction for computing property Income/ 27) Income earned by a trade association from sale of Goods to its members… 28) Which of the following can not be deducted from business income 29) Depreciation of various business assets are specified in: 1st Schedule 30) Income derived from renting out generator 31) Income generated form leasing (Normal Business) 32) Income Generated from renting out property/land 33) From Last couple of Years, tax ti GDP Ratio has on) 34) Which of the following is True About amount of taxes collected in Pakistan ( Indirect Taxes are more than direct) 35) Which of the following would cause income to become more unequal: 36) Sales tax in Pakistan is (Indirect and Proportional) 37) Progressive Taxation is.. 39) ____ is the difference Between.. 40) Further Tax (Non Registered)
