Professional Documents
Culture Documents
Please contact at the address given below, if you find anything missing in the packet.
Mailing Section
Services Block No. 28
Allama Iqbal Open University,
H-8, Islamabad.
Ph: 051-9057611-12
Mahmood-ul-Hasan
(Course Coordinator)
WARNING
1. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING
THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD
OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE.
2. SUBMITTING ASSIGNMENTS BORROWED OR STOLEN FROM
OTHER(S) AS ONES OWN WILL BE PENALIZED AS DEFINED IN
AIOU PLAGIARISM POLICY.
ASSIGNMENT No. 1
Instructions:
(You must answer the questions in your own words. Copying from books
is not permissible. Give supporting calculations where necessary)
Q.1 Analyze the salient features of Federal Budget 2015-2016 regarding Income tax.
(20)
Q.2 a)
b)
(10)
(10)
Q.3 Briefly discuss the various heads of income as discussed in Income Tax Ordinance
(as amended).
(20)
Q.4 Discuss the difference between Capital and Revenue Expenditures.
(20)
Q.5 How the income tax return is filed by public limited companies? Discuss in light of
legal provisions.
(20)
ASSIGNMENT No. 2
Total Marks: 100
Pass Marks: 40
iii.
iv.
v.
vi.
You may use transparencies, charts or any other material for effective presentation. You
are required to select one of the following topics according to the last digit of your roll
number. For example, if your roll number is D-3427185 then you will select topic number
5 (the last digit).
List of Topic:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Categories of Revenue
3.
Perquisites
Exemptions
Tax Computation
Average Relief
b)
Income from House Property
Deductions
Unit3 INCOME TAX ORDINANCE
1.
Heads of Income - II
a)
Income from Business or Profession
Admissible Deductions
b)
Capital Gains
Differentiation
3.
Hierarchy
Definitions
Drawbacks
Definitions
Exemptions
Power of adjudication
Legal Definitions of various terms and concepts used in Sales Tax Act
Issuance of Licenses
Assessment procedures
Refunds
BOOKS RECOMMENDED:
Latest Editions of the following Publications:
1.
Income Tax (Principles & Practice): By Muhammad Muazzam Mughal.
2.
Sales Tax Central Excise and Custom Duty Zakat and Ushr: By Muhammad
Muazzam Mughal
3.
Income Tax Law with Practical Problem: By Prof. Dr. Khawaja Amjad Saeed.
4.
Complete Income Tax Law: By S.A. Salam.
5.
Income Tax Law: By Luqman Baig.
6.
Income Tax Ordinance: By Government of Pakistan
7.
Sales Tax Act: By Government of Pakistan
8.
Students are expected to Read Periodicals and Daily for the Refinement of their
Knowledge.