vu fin623 Final Term - Quiz No.5
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: Gain on sale of depreciable asset, under section 31 of t charged to tax under which of the following head of In
Income from Business
Income from Property
Income from Capital Gain
Income from Other sources
Question 2: Which of the following does Not come under the ambit of permanent establishment (PE)?
Branch office
Factory or workshop
Premises for soliciting orders
Liaison or relationship office
Question 4: The office of Superintendent of Sales Tax, or such o notification in the official Gazette, specify is called;
Income tax office
Registered office
Local Sales Tax Office
None of the given options
Question 5: Mr. X non- resident of Pakistan earned income from property situated in Dubai Rs. 70,000 but received in Pakistan. Which one of the following option is right for this particlar scenario?
Mr. X being non-resident of Pakistan Rs. 70,000 will be added in Gross total income
Mr. X being non-resident of Pakistan Rs. 70,000 will be subtracted in 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 6: Government Expenditure is one of the instruments of which of the following policy?
Monetary policy
Fiscal policy
Trade Policy
Economic Policy
Question 7: Which of the following is the main objective of Fiscal Policy?
Economic Development
Price stability
Removal of deficit in Balance of Payments
All of the given options
Question 8: MTS stands for which of the following?
Minimum time scale
Minimum transfer Salary
Maximum time scale
Maximum transfer Salary
Question 10: What is the tax treatment of the leave encashment of the armed forces of Pakistan on retirement made by the employer?
Wholly Taxable
Wholly exempt
Partly Taxable
Not mention in Income Tax Ordinance 2001
