vu fin623 Final Term - Quiz No.4
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.
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Question 1: Which one of the following section defines Income under the head Income from Business section 18?
Section 2(9)
Section 2(29)
Section 75
Section 2(15)
Question 2: Mr. X resident of Pakistan earned income from Property situated in London R 50,000 but received in India. Which one of the fol particular scenario?
Mr. X being resident of Pakistan Rs. 50,000 income
Mr. X being resident of Pakistan Rs. 50,000 total income
Mr. X being resident of Pakistan Rs. 50,000 deduction
Mr. X being resident of Pakistan Rs. 50,000
Question 3: Which of the following is a literal meaning of tax?
Burden
Endurance
Patience
Fortitude
Question 4: M/s ABC Co. has been incorporated under Pakistan Companies Ordinance 1984. However it's most of the branches are operated out of Pakistan. What will be the residential status of M/s ABC Co.?
Resident Company
Non- Resident Company
Resident Individual
Resident AOP
Question 5: Which of the following days shall be counted as whole day for the computation of residential status of an individual?
A public holiday
A day of sick leave
Any strike day
All of the given options
Question 6: M/s ABC Co. has been incorporated under Pakistan Companies Ordinance 1984. However its most of the branched and control and management of affairs wholly situated out of Pakistan. What will be the residential status of M/s ABC Co.?
Resident Company
Non-Resident Co mpany
Resident Individual
Resident AOP
Question 7: Suppose a Profit acquired by a cultiv produce after harvesting. The profit of the cultivator will be __________
Income from Business
Agriculture Income
Income from Property
Capital Gain
Question 8: Which one of the following principle of tax emphasized, that the taxation policy should be designed in such a way to boost business atmosphere and the investment environment in the country?
Convenience
Judicious
Capacity to Pay
Business friendly
Question 9: Which part of income is charged to tax of resident person under the income tax ordinance 2001?
Pakistani source of income
Foreign source of income
Both Pakistan and foreign source of income
None of the given option
