1-

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

a- 1st July 2001

b- 13th September 2001
c- 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 tax
c- Sales tax
d- Wealth tax
5- Which of the following is the Tax year available for salaried individual? Select correct
option:
a- 1st January to 31st December
b- 1st July to 30th June
c- 1st October to 30th September
d- 1st September to 31st August
6- Sales tax is kind of:

a- Capital value tax

b-

Value added tax

c- Presumptive tax
d- Withholding tax
7- What is the residential status of Provincial Government of Pakistan?
a-

Resident Individual

b- Resident Company
c- Resident AOP
d- Resident HUF
8- If any other office involved in the management of a company it is termed as:
a- Employment
b- Employer
c- Employee
d- 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 Year
A period of 12 months ending on 30th June
1-07-2011---to---30-06-2012
Special Tax Year
A period of 12 months ending on any date other than 30th June
1-10-2012---to---30-09-2013

10An increase in the money supply will cause interest rates to:
(Decrease)
11The 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 2002
b- Section 40 of the Income Tax Ordinance 2001
c- Section 41 of the Income Tax Ordinance 2001
d- Section 42 of the Income Tax Ordinance 2001

13Medical allowance is exempt up to?

a- 15% of basic salary
b- 20% of basic salary
c- 10% of basic salary
d- fully exempt
14-TA/DA is exempt from tax.
a)true
b)false