1- Income tax ordinance, 2001 became effective from which of the following date?Select correct option:

a- 1st July 2001b- 13th September 2001c- 1st July 2002 d- 13th September 2002

2- Rate of tax on dividend??

(10%)

3- Number of days in Pakistan which make a person resident individual?

(183 Days)

4- Which of the following tax is payable on merchandise imported or exported from one country to another? Select correct option:

a- Custom duty b- Income taxc- Sales taxd- Wealth tax

5- Which of the following is the Tax year available for salaried individual? Select correct option:

a- 1st January to 31st Decemberb- 1st July to 30th June c- 1st October to 30th Septemberd- 1st September to 31st August

6- Sales tax is kind of:

a- Capital value taxb- Value added tax c- Presumptive taxd- Withholding tax

7- What is the residential status of Provincial Government of Pakistan?

a- Resident Individualb- Resident Company c- Resident AOPd- Resident HUF

8- If any other office involved in the management of a company it is termed as:

a- Employment b- Employerc- Employeed- Business premises

9- Define "transitional tax year"

Whenever there is a change in tax year the period in between the normal tax year and special tax year is treat as transitional tax year. For example

Normal Tax YearA period of 12 months ending on 30th June1-07-2011---to---30-06-2012Special Tax YearA period of 12 months ending on any date other than 30th June1-10-2012---to---30-09-2013

10- An increase in the money supply will cause interest rates to:(Decrease)

11- The largest source of tax revenue for the federal government is:(Income Tax)

12- Which of the following section deal with tax treatment of person who is a cultivator or receiver of agricultural produce as rent-in-kind in the business of cultivator?Select correct option:

a- Rule 11 of the IT Rule 2002b- Section 40 of the Income Tax Ordinance 2001c- Section 41 of the Income Tax Ordinance 2001 d- Section 42 of the Income Tax Ordinance 2001

13- Medical allowance is exempt up to?a- 15% of basic salaryb- 20% of basic salaryc- 10% of basic salary d- fully exempt

14- TA/DA is exempt from tax.a)trueb)false