FINAL TAXATION ASSIGNMENT.doc

8/13/2019 FINAL TAXATION ASSIGNMENT.doc

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Tax assignment

MBA 3.5 (6TH SEMESTER)

Submitted by:

S.Amber NazSonia Saed

Kousar Shaheen

Nimra Haseeb


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1. What is the tax treatment of the reimbursement of exen!iture ma!e b" the

em#o"er$

Who##" Taxab#e

Who##" exemt

%art#" Taxab#e

&ot mentione! in 'nome Tax r!inane *++1

*. An" ob#i,ation of em#o"ee -aie! off b" em#o"er -i## not be a!!e! ba/ to his

taxab#e inome.

True

0a#se

3. A,riu#tura# inome in#u!es -hih one of the fo##o-in,$

'nome from fisheries

Ro"a#t" inome of mines

Share of rofit of a artner from a firm en,a,e! in a,riu#tura#

ii!en! ai! b" a oman" out of its a,riu#ture inome

2. *(5) of 'nome Tax r!inane *++1 !efine!4 shareho#!er in re#ation to a

oman"7 in#u!es a mo!araba ertifiate ho#!er7 a unit ho#!er of a unit trust an! a

benefiiar" of a trust. 'n -hih riteria the aboe !efinition fa##s$

Ex#usie !efinition

'n#usie !efinition

Both Ex#usie an! 'n#usie !efinitions

Statutor" !efinition

5. What is the resi!entia# status of %roinia# 8oernment of %a/istan$

Resi!ent 'n!ii!ua#

Resi!ent 9oman"


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Resi!ent A%

Resi!ent H:0

6. A firm AB9 maintainin, its aount in arua# basis7 at ;une *


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;u!iious

9aait" to %a"

Business frien!#"

1+. Tax rate for taxab#e inome for the tax "ear *+13 exee!in, Rs 55+7+++ u to Rs

65+7+++ is 6.+ as ,ien in the first she!u#e of 'nome Tax r!inane *++1.

True

0a#se

11. Whih of the fo##o-in, is the exam#e of !eem inome$

9ash 8ift

Sa#ar"

oan throu,h ross heCue

8o#!en han! sha/e

1*. Whih of the fo##o-in, is the Tax "ear aai#ab#e for sa#arie! in!ii!ua#$

Se#et orret otion$

1st ;anuar" to 31st eember

1st ;u#" to 3+th ;une

1st tober to 3+th Setember

1st Setember to 31st Au,ust

13. Whih of the fo##o-in, is the rate of tax for ma#e sa#arie! 'n!ii!ua#s for tax "ear

*++7 -here the taxab#e inome exee!s Rs. 1=+7+++ but !oes not exee! Rs.

*5+7+++$

Se#et orret otion4

+

+.*5


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+.5+

+.


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2.5+

3+. efiit 0inanin, is one of the too#s of -hih of the fo##o-in, o#i"$

Monetar" o#i"

0isa# o#i"

Tra!e %o#i"

Eonomi %o#i"

31. Whih of the fo##o-in, is a ,enera# omu#sor" ontribution of -ea#th b" the state7 to

meet the exenses inurre! in roi!in, ommon benefits uon the resi!ents$

0ee

taxes

9har,es

%ena#ties

3*. 9one"ane roi!e! b" em#o"er for ersona# use of the em#o"ee is on#" taxe! F

5 of the ost to the em#o"er for aCuirin, the ehi#e or the fair mar/et a#ue of

ehi#e.

True

0a#se

33. 'n the norma# irumstanes on -hih of the fo##o-in, tax is har,e!$

Resi!ent 9oman"

8ross Reeit

Tota# 'nome

Taxab#e 'nome

32. &orma##" the sa#ar" inome is taxe! on ash basis but there is one exetion

aai#ab#e in 'nome Tax r!inane *++1 that sa#ar" inome an be taxe! on !ue


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basis if there are reasonab#e ,roun!s. Whih of the fo##o-in, setion !ea#s -ith this

exetion$

Se 53

Se 1+1

Se 11+

Se 111

35. Whih of the fo##o-in, is the tax treatment of free hosita#i@ation series roi!e!

un!er the terms of em#o"ment$

Who##" exemt

Exemt u to 1+ of MTS


Taxab#e u to 1+ of MTS

36. Senior iti@en>a,e 6+ "ears G aboe -here taxab#e inome not exee!in,______tax

#iabi#it" re!ue! b" 5+ un!er %art 3 of seon! she!u#e.

3+++++

2+++++

5++++

5+++++

3resi!ent A% -hih of the

fo##o-in, on!ition must be satisfie!$

9ontro# an! mana,ement of affairs of A% is situate! art#" in %a/istan.

9ontro# an! mana,ement of affairs of A% is situate! -ho##" in %a/istan.

9ontro# an! mana,ement of affairs of A% is situate! -ho##" or art#" in %a/istan

none of aboe

3=. Whih of the fo##o-in, is simi#ar to the onet of #ubbin, of 'nomes$

:nifiation on#" t-o hea!s of 'nome

Assoiation of t-o or more hea!s of 'nome


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S#ittin, u of on#" t-o hea!s of 'nome

iision of t-o or more than t-o hea!s of 'nome

3. Whih of the fo##o-in, !a"s sha## be ounte! as ha#f !a" for the omutation ofresi!entia# status of an in!ii!ua#$

A %ub#i Ho#i!a"

A !a" of si/ #eae

An" stri/e

&one of the ,ien otions

2+. Whih of the fo##o-in, tax is ai! from mone" "ou reeie! from someone -ho has

!ie!$

'nome tax

inheritane tax

%roert" tax

Sa#es tax

21. Mrs. Sara reeie! a basi sa#ar" of Rs. *=+7+++ !urin, the "ear en!e! 3+.+6.*++.

She reeie! ,ratuit" from the ,oernment of Sin!h of Rs. *176++. What -ou#! be

her tax a"ab#e$

I Rs. 173=

I Rs. *7*6*

I Rs. 12+

I Rs. 17=+

2*. Whih of the fo##o-in, anon of taxation su,,ests that there shou#! not be an"

arbitrariness or ambi,uit" in reset of amount of tax ai!$

I 9aait" to %a"

9ertaint"

I Sim#iit"

I 9oneniene


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23. An" 'nome entit#e! to be reeie! b" a 9oman" then entr" of suh amount -i##

on#" be ma!e in the boo/s of aounts if4

I 9oman" maintainin, its boo/s of aount on 9ash basis

9oman" maintainin, its boo/s of aount on Arua# basis

I 9oman" maintainin, its boo/s of aount on Both Arua# an! 9ash basis

I &one of the ,ien otions

22. 'nome Tax is har,e! on -hih of the fo##o-in,$

'nome of the urrent tax "ear

I 'nome of the reious "ear

I 'nome of the omin, "ear

I An" Reeit of mone"

25. %ension is !efine! in -hih of the fo##o-in, she!u#e of the 'nome Tax r!inane

*++1$

I *n! She!u#e %art 1 9#. (=)

I *n! She!u#e %art 1 9#. (*2)

I *n! She!u#e %art * 9#. (**)

I 1st She!u#e of %art * 9#. (*+)

26. Resi!ent %erson (Setion =1) in#u!es -hih of the fo##o-in,$

I Resi!ent 'n!ii!ua# G Assoiation of %ersons

I Resi!ent 9oman"

I 0e!era# 8oernment

A## of the ,ien otions


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2


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51. L'nome is reor!e! -hen reeie! an! exen!iture -hen ai!L7 -hih one of the

fo##o-in, aountin, s"stems !esribe this statement$

I 9ash basis aountin, s"stem

I Arua# basis aountin, s"stem

I Both ash an! arua# basis

I &one of the ,ien otions

5*. n Bui#!in, (a## t"es) the !ereiation rate seifie! for the uroses of setion **

sha## be4

10%

I 1*

I 5

I *+

53. Setion **(15) !efines !ereiab#e asset means4

I An" tan,ib#e moab#e roert"

I An" tan,ib#e immoab#e roert" (other than unimroe! #an!)

I Strutura# imroement to immoab#e roert"

I A## of the ,ien otions

52. The sa#ar" reeie! from the :? 8oernment b" Mr. Amir resi!ent of %a/istan.

Whih setion of the inome tax or!inane ex#ains his tax treatment of suh sa#ar"$

I Setion 11+

I Setion 1+1

Setion 1+*

I Setion 5+


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55. Reision of return an be ma!e on an a#iation ma!e b" the tax a"er re#atin, to

issuane of an exemtion7 b" -hih of the fo##o-in, authorities$

I 'nome Tax ffier

I Assistant 9ontro##er of 'nome tax

I eut" 9ontro##er of 'nome tax

Re,iona# 9ommissioner of 'nome tax

56. Aea# to 9'T (aea#s) sha## be fi#e! in -hih of the fo##o-in, manner$

n resribe! form

I n #ane aer

I n stame! aer

I e,a# !ouments

5


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5. Mr. ?ishan ?umar !urin, his "ear#" tour in %a/istan sen!s 155 -or/in, !a"s7 *6

off>-or/in, !a"s 1 stri/e !a" an! 1 %ub#i Ho#i!a" in a tax "ear *++=>+$ What -i##

be the status of the in!ii!ua#$

Resi!ent 'n!ii!ua#

I &on Resi!ent 'n!ii!ua#

I Resi!ent %erson

I Resi!ent H:0

6+. Mr. ?ishan ?umar !urin, his "ear#" tour in %a/istan sen!s 156 -or/in, !a"s7 *6

off-or/in, !a"s an! 1 %ub#i Ho#i!a" in a tax "ear *++>*+1+$ Whih of the

fo##o-in, is his resi!entia# status$

Se#et orret otion4

Resi!ent 'n!ii!ua#

&on Resi!ent 'n!ii!ua#

Resi!ent %erson

Resi!ent H:0

61. Mr. Neeshan !urin, his "ear#" tour in %a/istan sen!s 1=+ -or/in, !a"s an! in a tax

"ear *++=>+$ What -i## be the status of in!ii!ua#$

I Resi!ent 'n!ii!ua#

&on>Resi!ent 'n!ii!ua#

I Resi!ent %erson

I Resi!ent H:0

6*. Whih of the fo##o-in, is the rate of tax for A% for tax "ear *++7 -here the

taxab#e inome exee!s Rs. 1++7+++ but !oes not exee! Rs. 11+7+++$

I +

I +.*5

I +.5+

I +.


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63. Whih of the fo##o-in, is the rate of tax for A% for tax "ear *++7 -here the

taxab#e inome exee!s Rs. 1*57+++ but !oes not exee! Rs. 15+7+++$

I +.5+

I +.


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6


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Exemp !10" of 200,000#20,000$

!20,000$ 100,000

(01 of loan is chargea*le to tax

"00000(01%

0000

30000

ccording to tax la& 200 tax 'aya*le &ill *e/ 3000021 -00

ccording to tax la& 20(3 iicome under 00000 is exem't from tax deduction

4uestion o/ 3 " Mar5s/ ( % # lease choose one

. Mr. Shafqat received a *asic salary of Rs. 3$0,000 during the year ended

30.06.200. !is com'any maintained car for 'ersonal and official use. The cost

of the vehicle is Rs. 0,000.)hat &ould *e his tax 'aya*le+

Rs. (,030

Rs. $,(0

Rs. (0,$0

Rs. (3$,300

ote/ according to 20(3 tax la& his income has not lia*le to 'ay tax as his

income is under 00000


$0. Mr. Shafqat received a *asic salary of Rs. 200,000 during the year ended

30.06.200. !e has received lunch facility, cost of living allo&ance and adhoc

relief of Rs. 6,000, $0,000, and -,00 res'ectively. )hat &ould *e his tax

'aya*le+

Rs. (,030

Rs. (,03

Rs. (,06

Rs. (,-.$

7n 20(3 he is not lia*le for tax 'ayment *ecause his salary is less than 00000


$(. retailer &hose value of su''lies in any 'eriod during the last t&elve

months ending any tax 'eriod exceeds8888888 are required to *e registeredunder the Sales Tax ct (09


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:orty million ru'ees

T&enty million ru'ees

Ten million ru'ees

:ive million ru'ees

ot included in course

Ref/g;((

$2. retailer &hose value of su''lies in any 'eriod during the last t&elve

months ending any tax 'eriod exceeds t&enty million ru'ees9

ot included in course


$3. Statutory rovident :und is governed *y &hich one of the follo&ing+

:inance ct 2006

7nsurance ct (6

rovident :unds ct (2$

:inance usta*le against rent. )hat &ould *e the amount of rent chargea*le to tax

&here the fair mar5et rent is Rs. (00,000+

Rs. 0,000

Rs. (,-$00

Rs. 2,00

Rs. (,200

ot included in a course

4uestion o/ $ " Mar5s/ ( % # lease choose one


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$$. Mr. )aqas is a 'racticing chartered accountant. !e has received audit

fees of Rs. 300,000 and the examiner?s fees of Rs. 2,000. @uring tax year 200

he has made mem*ershi' and certificate ex'enses of Rs. $00. )hat &ill *e his

income from 'rofession+

Rs. (,3

Rs. 30(,$00

Rs. 2-,$00

Rs. 2,$00

300,000A2000#$00B30(,$00



$6. MCs. RST filed tax return for tax year 200, declaring taxa*le income as

Rs. (,(3$,000 made 'ayments in execution of a contract for 'urchase of office

a''liances Rs. 2$0,000. )hat &ill *e the tax 'aya*le of the com'any+

Rs. (00,000

Rs. ($0,000

Rs. 300,000

Rs. ,-$0

Dalculation/ Tax Eia*ility

((3$000A2$0,000B(,3$0003$1B,-$0

4uestion o/ - " Mar5s/ ( % # lease choose one

$-. Mr. 4asim received income from *usiness of Rs. (0-,000. !e has received

gain on sale of residential house of Rs. (0,000. )hat &ill *e his taxa*le

income+

Rs. $0,000

Rs. 300,000

Rs. (0-,000

Rs. (00,000

4uestion o/ 3-( "Mar5s/ (% # lease choose one


19/73

$. Mr. 4asim received income from *usiness of Rs. 6,(0-,000. !e has

received gain on sale of residential house of Rs. (0,000. )hat &ill *e his

taxa*le income+

Rs. $0,000

Rs. 300,000

# Rs. 6,(0-,000

Rs. (00,000

4uestion o/ " Mar5s/ ( % # lease choose one

$. Mr. Famil has received income from 'oultry farm of Rs. 6$,000 and gain

on sale of shares of 'rivate com'any Rs. (36,000 &here the shares &eredis'osed off after (2 months. The ca'ital loss amounted to Rs. ($,000 &as

re'orted. )hat &ill *e his taxa*le income+

Rs. $66,000

Rs. 6,000

Rs. -32,000

Rs. --6,000

4uestion ; ( of ($ " Start time/ 02/32/$ M % Total Mar5s/ (

60. 7f an em'loyee?s taxa*le income is Rs.-($, 000 and he 'aid donations

amounting Rs.(0,000 to a charita*le institution, &hat &ill *e the value of GD? in

calculating tax credit+

Select correct o'tion/

Rs.-($, 000

Rs.2(, $00

Rs.(0, 000

Rs.22, $00

4uestion ; 2 of ($ " Start time/ 02/33/0- M % Total Mar5s/ (

6(. )hich one of the follo&ing section deals &ith intangi*les+


Section 22


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Section 2

Section 222

Section 22

4uestion ; 3 of ($ " Start time/ 02/33/32 M % Total Mar5s/ (

62. Mr. is an em'loyee of =overnment of the un>a*, his data for the year

20(0 is given *elo&. Salary/ Rs. 60,000 'er month =ratuity/ Rs. (,000,000

Dalculate his taxa*le income.


--,000

-20,000

(,060,000

(,-20,000

Sol/ 60000(2B-20000

4uestion ; of ($ " Start time/ 02/3/03 M % Total Mar5s/ (

63. firm


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4uestion ; 6 of ($ " Start time/ 02/3/3$ M % Total Mar5s/ (

6$. :ollo&ing 'erson is required to file tax return/


)ido&

@isa*led 'erson

The 'erson has *ecome *an5ru't

Ir'han *elo& age of 2$

4uestion ; - of ($ " Start time/ 02/36/0 M % Total Mar5s/ (

66. The 'rocess of clu**ing of income results in &hich of the follo&ing+


Eo&er


22/73

ll of the given o'tions

4uestion ; (( of ($ " Start time/ 02/36/$ M % Total Mar5s/ (

6. " C


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-2. @eductions not allo&ed under the head income from *usiness is defined

*y


Section 20

Section 2(

Section 2$

Section 2-

4uestion ; ( of ($ " Start time/ 02//3 M % Total Mar5s/ (

-3. de'recia*le asset has normal useful life of/


Six months

Ine year or more

Hleven months

one of the given o'tions

4uestion ; 2 of ($ " Start time/ 02// M % Total Mar5s/ (

-. Hx'enses entitled to *e 'aid *y a Dom'any, then entry of such ex'enses

&ill *e made in the *oo5s of accounts if/


Dom'any maintaining its *oo5s of account on Dash *asi

Dom'any maintaining its *oo5s of account on ccrual *asis

Dom'any maintaining its *oo5s of account on


24/73

2$0 Sq. yards

3$0 Sq. yards


4uestion ; 6 of ($ " Start time/ 02/$/2 M % Total Mar5s/ (

-$. :ormula to com'ute the tax rate a''lies on gratuity received, K


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26/73

ny stri5e

one of the given o'tions

4uestion ; ($ of ($ " Start time/ 02//0 M % Total Mar5s/ (

2. ension is exem't under


Dlause "(2% art 7 of Second Schedule

Dlause "(2(% art 7 of Second Schedule

Dlause "(22% art 7 of Second Schedule

Dlause "((2% art 7 of Second Schedule

Seia# tax "ear is a!ote! after see/in, aroa# from the JJJJJJJJJJJJ un!er

ssetion


27/73

Se#et orret otion4

Sa#arie! erson

Assoiation of erson

9omanies

%rorietorshi

Puestion Q 1+ of 15 ( Start time4 1142431 %M ) Tota# Mar/s4 1

Whih of the fo##o-in, is the main too# of 0isa# %o#i"$

Se#et orret otion4

Taxes

efiit 0inanin,

Subsi!ies

Transfer %a"ments

Puestion Q 11 of 15 ( Start time4 114242= %M ) Tota# Mar/s4 1

Whih one of the fo##o-in, is ex#u!e! from the !efinition of aita# asset$

Se#et orret otion4

A osta,e stam

;e-e#r"

Sto/>in>tra!e

A aintin,

Puestion Q 1* of 15 ( Start time4 1145+426 %M ) Tota# Mar/s4 1

&on>a!ustab#e amounts sha## be treate! as rent an! har,eab#e to tax7 these amountsare srea! oer a erio! of

Se#et orret otion4

+5 "ears

1+ "ears

15 "ears

*+ "ears

Puestion Q 13 of 15 ( Start time4 114514+* %M ) Tota# Mar/s4 1


28/73

Whih of the fo##o-in, setion !ea#s -ith the resi!entia# status of Assoiation of

%erson$

Se#et orret otion4

Setion =1

Setion =*

Setion =3

Setion =2

Puestion Q 12 of 15 ( Start time4 114514*+ %M ) Tota# Mar/s4 1

'f a u#tiator use! its a,riu#tura# ro!ue as ra- materia# in its business -hat -i##

be the tax treatment of suh a,riu#ture ro!ue$

Se#et orret otion4

Mar/et rie of suh ro!ue -i## be !e!ute! as business exen!iture

The exenses of u#tiation -i## be !e!ute! as exense from business

The #an! reenue rent ai! -i## be !e!ute! as exense from business


Puestion Q 15 of 15 ( Start time4 11451435 %M ) Tota# Mar/s4 1

JJJJJJJJJJ are a##o-ab#e !e!utions in ase if the tax a"er is runnin, a business.

Se#et orret otion4

Sa#aries ai!

%urhases

ffie exen!itures


Puestion Q 1 of 15 ( Start time4 1*4+*41* AM ) Tota# Mar/s4 1

Whih art of the 'nome Tax r!inane *++1 !ea#s -ith Tax re!its$

Se#et orret otion4

9hater ''' %art D''

9hater ''' %art D'''

9hater ''' %art '


29/73

9hater ''' %art

Puestion Q * of 15 ( Start time4 1*4+*4*2 AM ) Tota# Mar/s4 1

Whih of the fo##o-in, is a ,enera# omu#sor" ontribution of -ea#th b" the state7 to

meet the exenses inurre! in roi!in, ommon benefits uon the resi!ents$

Se#et orret otion4

0ee

Taxes

9har,es

%ena#ties

Puestion Q 3 of 15 ( Start time4 1*4+*431 AM ) Tota# Mar/s4 1

Whih one of the fo##o-in, is the main obetie of 0isa# %o#i"$

Se#et orret otion4

Eonomi ee#oment

%rie stabi#it"

Remoa# of !efiit in Ba#ane of %a"ment


Puestion Q 2 of 15 ( Start time4 1*4+*43= AM ) Tota# Mar/s4 1

Benh Mar/ rate for the tax "ear *+1+ is4

Se#et orret otion4

=

1+

1*

13

Puestion Q 5 of 15 ( Start time4 1*4+*455 AM ) Tota# Mar/s4 1

e!ution is a##o-e! on exen!iture on aCuirin, a !ereiab#e asset -hose usefu#

#ife is4

Se#et orret otion4


30/73

ne "ear

More than one "ear

Three "ears

0ie "ears

Puestion Q 6 of 15 ( Start time4 1*4+2411 AM ) Tota# Mar/s4 1

Whih one of the fo##o-in, anons of taxation su,,ests easiness in time of a"ment

an! mo!e of o##etion of tax$

Se#et orret otion4

Sim#iit"

9oneniene

9ertaint"

9aait" to %a"

Puestion Q = of 15 ( Start time4 1*4+2431 AM ) Tota# Mar/s4 1

Who is #iab#e to a" tax in a artnershi form of business$

Se#et orret otion4

%artners

%artnershi firm

%artner -ith #ar,e share


Puestion Q of 15 ( Start time4 1*4+243< AM ) Tota# Mar/s4 1

Mr. Af@a# -ou#! #i/e to omute the tax rate a#" on the ,ratuit" reeie! the

formu#a to omute the tax rate is.

Se#et orret otion4

AxB1++

Ax1++B

ABx1++

1++BA

Puestion Q 1+ of 15 ( Start time4 1*4+245+ AM ) Tota# Mar/s4 1


31/73

Whih of the fo##o-in, ma" ,rant aroa# to an" ,ratuit" fun!$

Se#et orret otion4

0e!era# Tax mbu!sman

0e!era# 8oernment

Suerior u!iiar"

9ommissioner of 'nome Tax

Puestion Q 13 of 15 ( Start time4 1*4+543* AM ) Tota# Mar/s4 1

An 'n!ii!ua# -i## be terme! as Short Term Resi!ent un!er setion 5+ of the 'T

r!inane *++1 roi!e!4

Se#et orret otion4

His erio! of sta" eCua# to 1=3 !a"s

The em#o"ee of 0e!era# 8oernment

The iti@en of %a/istan

Resi!ent so#e#" b" reason of the in!ii!ua#s em#o"ment

Puestion Q * of 15 ( Start time4 1*4+4+2 AM ) Tota# Mar/s4 1

An" ,ain arisin, on the !isosa# of shares in a resi!ent oman" be#on,s to -hih of

the fo##o-in,$

Se#et orret otion4

0orei,n soure of inome

%a/istansoure inome

Both %a/istan an! forei,n soure of inome

&one of the ,ien otion


'f the aountin, "ear of firm manufaturin, sha-#s is starte! from 1st Ari# *++*

an! en!in, on 31st Marh *++3. What -i## be its tax "ear$

Se#et orret otion4

Tax "ear *++*

Tax "ear *++3


32/73

Tax "ear *++2

Tax "ear *++5

Puestion Q 2 of 15 ( Start time4 1*4+43* AM ) Tota# Mar/s4 1

9onet of searate #e,a# entit" of aountin, a#ies on -hih of the fo##o-in,

onets in taxation un!er setion 1+5 of the or!inane$

Se#et orret otion4

Resi!ent an! ermanent estab#ishment

&on>resi!ent an! ermanent estab#ishment

9iti@enshi an! ermanent estab#ishment



A !efinition that in#u!es the !itionar" meanin,s of the -or! is terme! as4

Se#et orret otion4

Ex#usie !efinition

'n#usie !efinition

Both 'n#usie G Ex#usie !efinitions

Statutor" !efinition

Puestion Q < of 15 ( Start time4 1*4+45= AM ) Tota# Mar/s4 1

An" amount sha## be forei,n>soure inome if it is ai! b"4

Se#et orret otion4

Resi!ent erson &on>resi!ent erson

9iti@en of %a/istan


Puestion Q of 15 ( Start time4 1*41+4*6 AM ) Tota# Mar/s4 1

:ti#ities -ere exemte! u to 1+ of MTS or Basi sa#ar" ti## 3+th ;une7 *++67 i!e

#ause 3= of art 1 of Seon! She!u#e. This #ause has been omitte! b"4

Se#et orret otion4


33/73

0inane r!inane *++2

0inane r!inane *++5

0inane At *++6

0inane At *++resi!ent erson is

Se#et orret otion4

Who##" exemt

Who##" taxab#e

5+ of amount reeiab#e

5+ of B.S

Puestion Q 13 of 15 ( Start time4 +14+=4*+ AM ) Tota# Mar/s4 1

8ratuit" Aroe! b" 9entra# Boar! of Reenue is

Se#et orret otion4

Who##" exemt

Who##" taxab#e

Exemt u to Rs. *++7+++

5+ of amount reeiab#e

Puestion Q 11 of 15 ( Start time4 1*411452 AM ) Tota# Mar/s4 1

'nome of the reo,ni@e! oationa# institution is

Se#et orret otion4

Who##" taxab#e

Exemt

Exemt u to 5+

%artia##" taxab#e

Puestion Q = of 15 ( Start time4 +*4264+= AM ) Tota# Mar/s4 1

An" %a/istan>soure inome -hih %a/istan is not ermitte! to tax un!er a tax treat"

sha## be JJJJJJJ.

Se#et orret otion4

Who##" Taxab#e

Who##" Exemt

%art#" Exemt


67/73

&ot mention in r!inane

Puestion Q 1* of 15 ( Start time4 +*43 %#ease hoose one

What is the tax treatment of reo,ni@e! %roi!ent fun! un!er setion * (2=) of art '

of sixth she!u#e$

Who##" exemt

%artia##" taxab#e

Who##" taxab#e

%artia##" exemt

Puestion &o4 < ( Mar/s4 1 ) > %#ease hoose one

What is the tax treatment of suort a"ment reeie! b" souse ma!e un!er the

a,reement to #ie aart$

Who##" Taxab#e

Who##" Exemt

%art#" Exemt

&ot mention in r!inane

Puestion &o4 21 ( Mar/s4 1 ) > %#ease hoose one

Whih of the fo##o-in, is the Tax Treatment of uti#ities for the "ear *++$

Who##" taxab#e

Who##" exemte!


Exemt u to 1 of MTS


68/73

Refa,e 26)

:ti#ities -ere exemt u to 1+ of MTS or Basi sa#ar" ti## 3+ th;une7 *++67 i!e

#ause 3= of art 1 of Seon! She!u#e. This #ause has been omitte! b" 0inane At7

*++6. Hene no exemtion is aai#ab#e for tax "ear *++.

Puestion &o4 1+ ( Mar/s4 1 ) > %#ease hoose one

What is the tax treatment of the #eae enashment of the arme! fores of %a/istan on

retirement ma!e b" the em#o"er$

Who##" Taxab#e

Who##" exemt

%art#" Taxab#e

&ot mention in 'nome Tax r!inane *++1

Ref4%,Q3

eae Sa#ar"4

This is taxab#e -heneer reeie! or ri,ht to reeie is exerise! b" the em#o"ee.

eae enashment on retirement fa##s in this ate,or". The on#" exemtion aai#ab#e

is for the members of the Arme! 0ores of%a/istan7 em#o"ees of the 0e!era#

8oernment an! %roinia# 8oernments.

Puestion Q 13 of 15 ( Start time4 +*45=45 AM ) Tota# Mar/s4 1

What is the tax treatment of the reimbursement of exen!iture ma!e b" the

em#o"er$

Se#et orret otion4

Who##" Taxab#e

Who##" exemt

%art#" Taxab#e


Puestion Q 15 of 15 ( Start time4 +345433 %M ) Tota# Mar/s4 1

'nome of a Text>Boo/ Boar! is

Se#et orret otion4

Who##" taxab#e

Exemt

Exemt u to 5+


69/73


Puestion Q 2 of 15 ( Start time4 1+425411 %M ) Tota# Mar/s4 1

What is the tax treatment of the sa#ar" of an em#o"ee of forei,n ,oernment but

iti@en of %a/istan$

Se#et orret otion4

Exemt form tax

Who##" Taxab#e

%art#" Taxab#e

&o Tax treatment ,ien in 'T r!inane *++1

Puestion Q 1+ of 15 ( Start time4 +64+343+ %M ) Tota# Mar/s4 1

Mr.;ohn a non>resi!ent reeie! rofit in %a/istan on a seurit" issue! b" a resi!ent

erson7 ho- the rofit -i## be treate! un!er se (26) of 'T r!inane *++1$

Se#et orret otion4

Who##" Taxab#e

Who##" Exemt

%art#" Exemt


Puestion Q = of 15 ( Start time4 11424+3 %M ) Tota# Mar/s4 1

9one"ane roi!e! b" em#o"er for ersona# use of the em#o"ee is on#" taxe! F

5 of the ost to the em#o"er for aCuirin, the ehi#e or the fair mar/et a#ue of

ehi#e.

Se#et orret otion4

True 0a#se

Puestion Q 5 of 15 ( Start time4 1142=4+< %M ) Tota# Mar/s4 1

A ash amount ai! b" a erson as !onation sha## be ta/en into aount on#" if it -as

ai! b" a rosse! heCue !ra-n on a ban/.

Se#et orret otion4

True

0a#se


70/73

Puestion Q 15 of 15 ( Start time4 +64334+3 %M ) Tota# Mar/s4 1

Tax "ear for the sa#arie! in!ii!ua#s is a##e! as Seia# Tax Oear.

Se#et orret otion4

True

0a#se

Puestion Q of 15 ( Start time4 +34+436 AM ) Tota# Mar/s4 1

%a"ment of Na/at is entit#e! to a !e!utib#e a##o-ane aor!in, to roisions of

se.6+.

Se#et orret otion4

True

0a#se

Puestion Q < of 15 ( Start time4 +=4364+1 %M ) Tota# Mar/s4 1

Bonuses are fu##" taxab#e un!er 'nome Tax r!inane *++1.

Se#et orret otion4

True

0a#se

Puestion Q 11 of 15 ( Start time4 +=4++41< %M ) Tota# Mar/s4 1

Tax rate for taxab#e inome for the tax "ear *+1+ exee!in, Rs 55+7+++ u to Rs

65+7+++ is 6.+ as ,ien in the first she!u#e of 'nome Tax r!inane *++1.

Se#et orret otion4

True

0a#se

Puestion Q < of 15 ( Start time4 +245641 AM ) Tota# Mar/s4 1

8ratuit" is on#" ,rante! in ase of retirement.

Se#et orret otion4

True

0a#se

Puestion Q of 15 ( Start time4 +*4**456 AM ) Tota# Mar/s4 1


71/73

8ratuit" is reeie! b" #e,a# heirs7 -here em#o"ee !ies before retirement the

,ratuit" -ou#! be exemte! in the han!s of #e,a# heirs of the !eease!.

Se#et orret otion4

True 0a#se

Puestion Q 13 of 15 ( Start time4 1*4**4+5 AM ) Tota# Mar/s4 1

ffier of 'nome Tax ma" ,rant aroa# to an" ,ratuit" fun!.

Se#et orret otion4

True

0a#se

Puestion Q 12 of 15 ( Start time4 1*4**4*1 AM ) Tota# Mar/s4 1

8ratuit" -i## be i,nore! -hi#e omutin, taxab#e inome an! tax #iabi#it" of a

!eease! erson.

Se#et orret otion4

True

0a#se

Puestion Q 6 of 15 ( Start time4 1*4*+415 AM ) Tota# Mar/s4 1

An" ob#i,ation of em#o"ee -aie! off b" em#o"er -i## not be a!!e! ba/ to his

taxab#e inome.

Se#et orret otion4

True

0a#se

Puestion Q = of 15 ( Start time4 +*43641= AM ) Tota# Mar/s4 1

8oernment roi!ent fun! is

Se#et orret otion4

Tota##" taxab#e

%artia##" taxab#e

Tota##" exemt

%artia##" exemt


72/73

Puestion Q < of 15 ( Start time4 +=4+1421 %M ) Tota# Mar/s4 1

:nreo,ni@e! roi!ent fun! is

Se#et orret otion4

Tota##" taxab#e

%artia##" taxab#e

Tota##" exemt

%artia##" exemt

Puestion Q 11 of 15 ( Start time4 +*45


73/73


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FINAL TAXATION ASSIGNMENT.doc