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