vu fin623 Final Term - Quiz No.6
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: Section (11A) of Income Tax Ordinance 2001 defined charitable purpose includes relief of the poor, education, medical relief and the advancement of any other object of general public utility;
Exclusive definition
Inclusive definition
Both Exclusive and Inclusive definitions
Statutory definition
Question 2: Federal Tax Ombudsman has the same powers as __________ for its contempt.
Supreme court
High court
City court
Provincial Government
Question 3: Agricultural income does NOT include which one of the following?
Rent or Revenue derived by a person from land
Income derived from land situated in Pakistan
The land is used for agricultural purposes
Income from spontaneous forest
Question 4: Mr. Ali resident of Pakistan received salary form UK. What will be the tax treatment of his salary in Pakistan?
Wholly taxable
Partly Taxable
Wholly exempt
Wholly exempt only if resident paid foreign tax on his salary
Question 5: Certain incomes those are excluded from tax are called as:
Perquisites
Exemptions
Allowances
Deductions
Question 6: Which of the following is the Tax Treatment of utilitieties
Wholly taxable
Wholly exempted
Exempt up to 10% of MTS
Exempt up to 1% of MTS
Question 7: Head Income from property section 15 defines land as:
Constructed building
Block of brick
Vacant plot
None of the given options
Question 8: If the accounting year of Mr. Aslam, a rice exporter is started from 01 January 2005 and ending on 31st December 2005. What will be its tax year?
Tax year 2003
Tax year 2004
Tax year 2005
Tax year 2006
Question 9: One of the following options doesn't come under the definition of Business income section 2 (9):
Trade
Commerce
Profession
Employment
Question 10: Which of the following section of Income Tax Ordinance 2001 deals with Income from Salary and its treatment?
Section 11
Section 12
Section 13
Section 14
