4.Which of the following methods of accounting is compulsory to adopt for aop?
► Accrual Basis
► Cash Basis
► Both Accrual and Cash Basis
► Free to choose any kind of base
1.Mr.______recieved in agriculture income from dubai, his income shall be treated as……….
► Taxable
► Exempt
► not remember
► None
A firm ABC maintaining its account in cash basis, at June 27, 2008 it incurred expenses for Rs. 10,000 but actual payments made at 01 August 2008. It would be charge to tax into the tax year:
► 2006
► 2007
► 2008
► 2009
Suppose a merchant acquired Profit from the purchase of standing crops and
resale of it after harvesting. The profit of the merchant will be treated in which of the
following way?
Agriculture Income
Income from Business
Income from Property
Capital Gain
Mr. A non-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
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
Mr. X resident of Pakistan remittance from UK received Rs. 20,000 in Pakistan
from past profits. Which of the following is right for the above scenario?
Mr. X being resident of Pakistan Rs. 20,000 will be added in Gross total
income
Mr. X being resident of Pakistan Rs. 20,000 will be Subtracted in Gross
total income
Mr. X being non-resident of Pakistan Rs. 20,000 will be added in Gross
total income
None of given option
Superior judiciary includes which of the following authorities?
City Court
Supreme Court
High Court
Both supreme and High court
Which one of the following is the example of tax payer?
Salaried Person
LESCO
WAPDA
All of the given options
Which of the following is not an employment tax?
► Social Security Tax
► Federal Excise Tax
► Federal unemployment compensation tax
► State unemployment compensation tax
For a non-resident AOP which of the following condition must be satisfied?
► Control and management of affairs of AOP is situated partly in Pakistan
► Control and management of affairs of AOP is situated wholly in Pakistan
► Control and management of affairs of AOP is situated wholly or partly in
Pakistan
► None of the given options
Which of the following is the example of deemed income?
► Cash Gift
► Loan through cross cheque
► Salary
► Golden hand shake
Rate charged under presumptive tax regime to non resident shipping firm 8% on its gross
receipt is quite low as compare to other business. This is an example of which type of tax
concession?
► Reduction in total taxable income
► None of the given options
► Reduction in tax liability
► Reduction in tax rate
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
Mr. A non-resident of Pakistan received interest on Canadian Bonds Rs. 150,000 (entire
amount received in Pakistan). What is the treatment of this amount for calculating his
gross total income?
► Rs. 150,000 added in his total income
► Rs. 150,000 subtracted from his total income
► Rs. 75,000 added in his total income
► Exempt from tax
Any amount shall be Pakistan-source income if it is paid by:
► Resident person
► Non-resident person
► Citizen of Pakistan
► All of the given options
--
REGARD:
HAFIZ M USMAN
MBA- 4th (FINANCE GROUP)
OKARA
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