FPSC FBR Inspector Inland Revenue Solved Paper

1. Who is the Authority for arresting ? An Officer of Inland Revenue not below the rank of Assistant Commissioner

2. Who is empowered Arrears collection inland ? Commissioner

3. Federal Excise Law which deals with confiscate Cigarette & Beverages ? Ans sec 27 FEA

4. Income from hire or lease of tangible movable property? Shall be chargeable to Income tax under head Income from Businesse

5. What is meant by Income from Property in Income Tax Ordinance 2001? Property or Rental income from the lease immovable property in Pakistan

6. While calculating income from business, personal expenses are deductible are not? Not Deductible

7. Income from business ? Is subject to Income Tax

8. Companies are allowed to Tax credit on donations as per Income Tax Ordinance 2001? 20%

9. Authority to allow tax payment on installment? Chief Commissioner

10. Foreign Government Employees salary are subject to income tax or not.? Subject to Income Tax

11. ST Zero rated schedule ? Ans Sixth schedule to the Sales Tax Act, 1990. Zero Rating. Zero rated goods are those goods on which the impact of tax paid is offset by subsequently

12. Registered person can claim input tax for supplies on ? Business purchases and Imports

13. What is meant by schedule name? Ans (sales Tax+FEA)

14. Appeal to high court can be made in how many days ? 90 Days

15. What is meant by the cost of reference to high court ? Discretion of the high court

16. Default surcharge P/A at which rate

17. Duty free goods

18. Powers to arrest and prosecute given to an officer of inland revenue as per Section 37-A not below the rank of ?

(A) chief Commissioner

(B) Deputy Commissioner

(C) Assistant Commissioner

(D) None of these

19. “Schedule” mean

20. Tax Reforms in Pakistan financed by ? World Bank

21Reducing reliance on WHT is

22. Re-engineering means in Tax reforms

23. Establishment of large tax payment

24. What is meant by Sales Tax period ? 30 Days

25. For how much time Gwadar free zone is exempted from sales tax and FED? Ans 23 years

26. How much Federal Excise Duty FED is charged on Cement? Rs. 1 Per KG

27. What is the threshold for cottage Industry? 10 Million

28. What is the capital gain tax on Immovable Property? 10% for Five Years

29. Dutiable goods are specified in which schedule? First Schedule

30. TARP environment term ex

31. FBR improves productivity

32. How many functions of FBR? (A) 22 (B) 30 (C) 15 (D) none of these (13)

33. FBR grant allowances, rewards

34. Direct tax is? Tax paid directly to Government such Income Tax, Property Tax or Tax on Assets

35. How to appoint E-Intermediary.

36. As per Salex Tax 1990 FBR follows which Procedure to arrest a person? 37B

37. Custom Duty will be paid in which bank? any designated bank branch

38. Government receipts consists of how many sources ? 4 

(A. Revenue Receipts

(B. Capital Receipts

(C. External Resources

(D. Self Financing by Autonomous Bodies)

39. Default surcharge rate.kibor+3

40. Tax administration finance by ? World Bank

41. Which of the following is type of Revenue Receipts ?

(A) Tax Revenue

(B) Non Tax Revenue

(C) Surcharge

(D) All of the above.

42. Government of Pakistan Collects revenues from surcharges such as ?

(A) Custom Duty

(B) Income Tax

(C) Natural Gas and Petroleum

(D) None of these

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