61. The income of the Federal Government shall be exempt from tax under section _____ of Income Tax Ordinance 2001?
a. 49
b. 47
c. 45
d. 43
62. Generally, the income of provincial and local governments are ________ in Pakistan?
a. Payable to income tax
b. Exempted from income tax
c. Both a and b
d. NOT
63. If the income of the provincial or local government is derived from business carried outside its jurisdiction shall be ___________?
a. Payable tax under salary income head
b. Payable tax under business income head
c. Not payable tax under Income Tax Ordinance
d. NOT
64. According to section 49 of Income Tax Ordinance 2001, __________ are exempted from income tax?
a. Local government
b. Provincial government
c. Federal government
d. AOT
65. What is the period mentioned for the short-term resident individual under section 50 of the Income Tax Ordinance 2001?
a. 2 years
b. 3 years
c. 4 years
d. NOT
66. If a person comes to Pakistan and does service not more than three years then he is _______ income tax?
a. Required to pay
b. Exempted from
c. Both a and b
d. NOT
67. Foreign source income of returning expatriates is discussed under which section of Income Tax Ordinance 2001?
a. 50
b. 51
c. 52
d. 53
68. How much period an individual is not asked to pay income tax if he returns to Pakistan from foreign for the rest of his life.
a. 3 preceding years and 1 next year
b. 4 preceding years and 1 next year
c. 2 preceding years and 2 next years
d. 3 preceding years and 3 next years
69. Tax concession and exemptions are discussed under ____ schedule of Income Tax Ordinance 2001?
a. 1st
b. 2nd
c. 3rd
d. 4th
70. In which section of Income Tax Ordinance of 2001 tax concession is discussed?
a. 51
b. 52
c. 53
d. NOT
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