vu fin623 Final Term - Quiz No.3
vu fin623 Taxation Management Quiz
This quiz belongs to book/course code vu fin623 Taxation Management of vu organization. We have 8 quizzes available related to the book/course Taxation Management. This quiz has a total of 10 multiple choice questions (MCQs) to prepare and belongs to topic Final Term. NVAEducation wants its users to help them learn in an easy way. For that purpose, you are free to prepare online MCQs and quizzes.
NVAEducation also facilitates users to contribute in online competitions with other students to make a challenging situation to learn in a creative way. You can create one to one, and group competition on an topic of a book/course code. Also on NVAEducation you can get certifications by passing the online quiz test.
Question 2: __________ is a type of tax where the tax rate increases as the income to which the rate is applied increases.
Proportional tax
Progressive tax
Regressive tax
Corporate tax
Question 3: Mr. X non-resident of Pakistan earned income fro Rs. 70,000 but received in Pakistan. Which one of for this particlar scenario?
Mr. X being non-resident of Pakistan Rs. 70,000 will be added in G total income
Mr. X being non-resident of Pakistan Rs. 70,000 will be subtracted Gross total income
Mr. X being non-resident of Pakistan Rs. 70,000 will be claimed as admissible deduction
Mr. X being non-resident of Pakistan Rs. 70,000 will be exempted
Question 4: A person where taxable income for a tax year exceeds chargeable to tax is required to file a return of income amount is:
Rs.100, 000
Rs.300, 000
Rs.250, 000
Rs.500, 000
Question 5: Mr. As total taxable income for the year 2009 is Rs. 600,000 the tax liability of Mr. A?
Rs. 15,000
Rs. 21,000
Rs. 27,000
Rs. 36,000
Question 6: Which of the following incomes are treated as agriculture income?
Spontaneous forests
Agro based industry
Interest received by a farmer on lending
Income from land in Pakistan used for agriculture
Question 7: Which of the following is the legal status of the Virtual University under the provisions of section 80 of the ordinance?
Individual
Company
Banking Company
Hindu Undivided Family
Question 8: Interpretation of Tax Laws is the prime responsibility of which of the following?
Parliament
Supreme Court
High Court
Superior Judiciaries
Question 9: Section 2(15) of Income Tax Ordinance 2001 defined: debt means any amount owing, including accounts payable and the amounts owing under promissory notes, bills of exchange, debentures, securities, bonds or other financial instruments;
In which criteria the above definition falls?
In which criteria the above definition falls?
Exclusive definition
Inclusive definition
Both Exclusive and Inclusive definitions
Statutory definition
Question 10: Mr. A resident of Pakistan received interest on Australian Bonds Rs. 100,000 (half amount received in Pakistan). What is the treatment of this amount for calculating his gross total income?
Rs. 100,000 added in his total income
Rs. 100,000 subtracted from his total income
Rs. 50,000 added in his total income
Exempt from tax
