71. Exemption and tax provision in other laws are discussed under section _________ of Income Tax Ordinance 2001?
a. 51
b. 53
c. 54
d. 55
72. Section 55 of Income Tax Ordinance discusses about __________?
a. Exemption and tax provision in other laws
b. Exemption and tax concessions
c. Limitation of exemption
d. AOT
73. The exemption of income tax is limited to ____________?
a. Any person receiving payment from the government
b. Original recipient
c. Both a and b
d. NOT
74. If a tax is exempted or reduced in any other law then it would not be effective until it is validated under______________?
a. Sales Tax Act
b. Income Tax Ordinance
c. Federal Excise Duty
d. NOT
75. Section 56 of Income Tax Ordinance deals with __________?
a. Limitation of exemption
b. Set off losses
c. Exemption and tax concession
d. NOT
76. Under which head of income, a person cannot claim set-off a loss?
a. Business
b. Property
c. Salary
d. Capital gain
77. If a person has a loss in his income, other than salary head, he _________.
a. Can carry the loss forward to the next tax year
b. Cannot carry the loss forward to the next tax year
c. Optional
d. NOT
78. Set-off of losses of companies operating hotels are discussed under ________ section of Income Tax Ordinance 2001?
a. 54
b. 55
c. 56
d. 56A
79. All the companies of ___________ which are operating hotels can claim set-off of losses.
a. Pakistan
b. Gilgit Baltistan
c. Azad Jammu and Kashmir
d. AOT
80. Carry forward for business losses is possible for ______?
a. Different head of income
b. The same head of income
c. Both a and b
d. NOT