Quiz of Income Tax Ordinance

– by
Post Views: 2,758

Quiz of Income Tax Ordinance are important for those students who are preparing for the test of Inspector Inland Revenue. It is important for you to practice them at least three times before appearing in the test.

If you would like to qualify the test then you must practice it regularly. We will upload quiz on regular basis, so you need to visit it regularly for new quizzes. If you have not gone through MCQs of Income Tax Ordinance then you can read them first and practice these quizzes. You will get great remarks. I hope you will enjoy these Quiz of Income Tax Ordinance.

You may also practice other sections of Inspector Inland Revenue Syllabus and Video Lecture of Fiscal Policy

Quiz of Income Tax Ordinance

Congratulations - you have completed Quiz of Income Tax Ordinance. You scored %%SCORE%% out of %%TOTAL%%. Your performance has been rated as %%RATING%%
Your answers are highlighted below.
Question 1
Income Tax Ordinance 2001 extends to __________?
A
Punjab
B
Sindh
C
Whole Pakistan
D
KPK
Question 2
Exemption under international agreement is discussed under section ___________ of Income Tax Ordinance 2001?
A
39
B
41
C
42
D
44
Question 3
Section 11 of Income Tax Ordinance deals with ___________?
A
Total Income
B
Taxable Income
C
Heads of Income
D
NOT
Question 4
According to which section of Income Tax Ordinance the income tax on agriculture is exempted?
A
16
B
13
C
41
D
14
Question 5
4th head of Income discusses about _____________?
A
Salary
B
Property
C
Business
D
Capital gains
E
NOT
Question 6
Any income which is derived from the source of agriculture is ________?
A
Chargeable to income tax
B
Exempted from income tax
C
Both a and b
D
NOT
Question 7
Income from moveable property falls under which head of income?
A
Business
B
Property
C
Salary
D
NOT
Question 8
Under which section a non-resident person receiving profit on the security which is issued by the resident person is exempted from income tax?
A
44
B
45
C
46
D
47
Question 9
Heads of income are discussed in which chapter of Income Tax Ordinance 2001?
A
1st
B
2nd
C
3rd
D
4th
Question 10
Salary is discussed under section _______ of Income Tax Ordinance 2001?
A
11
B
12
C
13
D
14
Question 11
Value of Perquisites is discussed under ____ section of Income Tax Ordinance 2001?
A
12
B
13
C
14
D
15
Question 12
Salary as the head of income is discussed under ______ part of chapter third of Income Tax Ordinance 2001?
A
Second
B
Third
C
Fourth
D
NOT
Question 13
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
Question 14
Chapter one of Income Tax Ordinance deals with _____?
A
Miscellaneous
B
Preliminary
C
Tax on taxable income
D
NOT
Question 15
If a tax is exempted, reduced, or decreased the liability of tax is not effective until it is validated under______________?
A
Sales Tax Act
B
Income Tax Ordinance
C
Federal Excise Duty
D
NOT
Question 16
Which section of the Income Tax Ordinance allows exempting the support payments under an agreement to live apart?
A
42
B
44
C
46
D
48
Question 17
Scholarships are exempted from income tax under which section?
A
45
B
46
C
47
D
48
Question 18
Employee share schemes are discussed under which section of Income Tax Ordinance 2001?
A
11
B
12
C
13
D
14
Question 19
When Ali sells his services in a shop then he gets income that falls under______ head; however, if he sells the whole shop and gets income fall under _______ head.
A
Property, business
B
Business, property
C
Business, capital gains
D
Capital gains, business
Question 20
Deduction in computing income chargeable under the head of income from other sources is explained under_________?
A
38
B
39
C
40
D
NOT
Question 21
Which act exempted income tax from UN Officials?
A
UN Privileges and Immunities Act 1928
B
Diplomatic and Consular Privileges Act 1972
C
UN Privileges and Immunities Act 1948
D
AOT
Question 22
Third head of Income deals with _____________?
A
Salary
B
Business
C
Property
D
Capital gain
Question 23
Foreign source income of returning expatriates is discussed under which section of Income Tax Ordinance 2001?
A
50
B
51
C
52
D
53
Question 24
There are _______ schedules in Income Tax Ordinance 2001?
A
4
B
13
C
7
D
14
Question 25
When an agriculturist opens a store of agricultural medicine and he earns a fair income from it. This income will fall under___________ head?
A
Salary
B
Business
C
Property
D
NOT
Question 26
If a person gains income from immovable property, then it falls under _______ head of Income?
A
Salary
B
Business
C
Property
D
NOT
Question 27
Ali and Alina are husband and wife. If they get separated, then the support payment given by Ali to Alina is ____________?
A
Exempted from income tax
B
Chargeable to pay income tax
C
Optional
D
NOT
Question 28
Income from property is discussed under section ________of Income Tax Ordinance 2001?
A
14
B
15
C
16
D
NOT
Question 29
Employee share schemes are ______ in salary head of income.
A
Chargeable to tax
B
Not chargeable to tax
C
Optional
D
NOT
Question 30
Income from property means__________?
A
Income from rent
B
Income from selling a house
C
Both a and b
D
NOT
Question 31
When an agriculturist provides services under the federal department of Pakistan and he gets a decent income. This income will fall under _______ head?
A
Business
B
Property
C
Salary
D
Capital gain
Question 32
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
Question 33
How many chapters are there in Income Tax Ordinance 2001?
A
6
B
10
C
11
D
13
Question 34
Income from dividends and royalty fall under which head of income?
A
Property
B
Salary
C
Business
D
Other sources
Question 35
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
Question 36
When a person sells his immovable property and he gets income from it. This income will fall under__________ head?
A
Property
B
Business
C
Capital gains
D
AOT
Question 37
President’s honors are exempted from the income tax according to ________ section Income Tax Ordinance 2001?
A
43
B
44
C
45
D
46
Question 38
A non-resident person gains profit on the debt is ___________ income tax?
A
Exempt from
B
Chargeable to
C
Both a and b
D
NOT
Question 39
Second head of income explains about________?
A
Business
B
Property
C
Capital Gain
D
Salary
E
Other sources
Question 40
__________ sections in Income Tax Ordinance 2001?
A
49
B
76
C
24
D
242
Question 41
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
Question 42
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
Question 43
Any Pakistan source income which Pakistan is not permitted to tax under a tax treaty shall be exempt from tax under section _________ of Income Tax Ordinance 2001?
A
43
B
44
C
45
D
46
Question 44
Exemption and tax provision in other laws are discussed under section _________ of Income Tax Ordinance 2001?
A
51
B
53
C
54
D
55
Question 45
The honor, award, or medal awarded to a person by the president of Pakistan shall be _______?
A
Payable to income tax
B
Exempt from income tax
C
Both a and b
D
NOT
Question 46
Income Tax Ordinance 2001 was promulgated on __________?
A
1st July
B
13 September
C
1st June
D
31st July
Question 47
Chapter third of Income Tax Ordinance discusses about_________?
A
Tax on taxable income
B
Charge of tax
C
Common rules
D
NOT
Question 48
All foreign government officials are _________?
A
Required to pay income tax
B
Exempted from income tax
C
Both a and b
D
NOT
Question 49
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
Question 50
Capital gains are discussed under which section of Income Tax Ordinance 2001?
A
17
B
37
C
38
D
18
Question 51
Agricultural income under Income Tax Ordinance is discussed under section _____?
A
40
B
41
C
42
D
43
Question 52
5th head of Income deals with _____________?
A
Property
B
Salary
C
Other sources
D
Business
Question 53
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
Question 54
There are __________ heads of Income?
A
3
B
4
C
5
D
6
Question 55
Salary includes__________?
A
Pay
B
Wages
C
Remuneration
D
Pension
E
AOT
Question 56
Income from business includes______?
A
Trade
B
Profession
C
Hire or lease of immoveable property
D
AOT
Question 57
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
Question 58
Ali gives his car on rent to a person. The income he gets from renting a car falls under which head of income?
A
Salary
B
Property
C
Business
D
Capital gain
Question 59
In which section of Income Tax Ordinance of 2001 tax concession is discussed?
A
51
B
52
C
53
D
54
Question 60
Non-adjustable amounts received in relation to building fall under which head of income?
A
Business
B
Property
C
Salary
D
Capital Gain
Question 61
Foreign government officials are exempted from income tax under section _____ of Income Tax Ordinance 2001?
A
41
B
42
C
43
D
44
Question 62
First head of income is ___________?
A
Property
B
Salary
C
Business
D
Capital gain
Question 63
According to ____________act a diplomatic officials are exempted from income tax?
A
Diplomatic and Consular Privileges Act 1969
B
UN Privileges and Immunities Act 1948
C
Diplomatic and Consular Privileges Act 1972
D
NOT
Question 64
Tax concession and exemptions are discussed under ____ schedule of Income Tax Ordinance 2001?
A
1st
B
2nd
C
3rd
D
4th
Question 65
Income Tax Ordinance 2001 became effective from ___________?
A
1st July 2001
B
13 September 2001
C
1st July 2002
D
1st June 2001
Question 66
If Ali gets an owner by the president of Pakistan, these allowance attached to Ali’s salary as the honor of president is ___________ income tax.
A
Chargeable to
B
Exempted from
C
Optional
D
NOT
Question 67
The income in shape of scholarship is ___________ under Income Tax Ordinance 2001?
A
Exempted for income tax
B
Chargeable to income tax
C
Optional
D
NOT
Question 68
Exemption and tax concessions in Income Tax Ordinance are discussed under chapter?
A
2nd
B
3rd
C
4th
D
NOT
Question 69
Speculation business is discussed under which section of Income Tax Ordinance 2001?
A
17
B
18
C
19
D
20
Question 70
Section 16 of Income tax ordinance 2001 explains about_________?
A
Income from property
B
Non-adjustable amount
C
Both a and b
D
NOT
Question 71
Income from other sources is discussed under which section of Income Tax Ordinance 2001?
A
37
B
38
C
39
D
40
Question 72
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
Question 73
Under which section of the Income Tax Ordinance, Diplomatic and United Nations officials will be exempted from income tax?
A
41
B
42
C
43
D
44
Question 74
Deduction of losses are explained under _______ section of Income Tax Ordinance 2001?
A
35
B
36
C
37
D
38
Once you are finished, click the button below. Any items you have not completed will be marked incorrect. Get Results
There are 74 questions to complete.