Quiz of Income Tax Ordinance

Atif Aziz

4 years ago

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Quiz of Income Tax Ordinance

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Question 1

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 2

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 3

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 4

Income from dividends and royalty fall under which head of income?

A	Property
B	Salary
C	Business
D	Other sources

Question 5

First head of income is ___________?

A	Property
B	Salary
C	Business
D	Capital gain

Question 6

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 7

Chapter third of Income Tax Ordinance discusses about_________?

A	Tax on taxable income
B	Charge of tax
C	Common rules
D	NOT

Question 8

Scholarships are exempted from income tax under which section?

A	45
B	46
C	47
D	48

Question 9

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 10

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 11

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 12

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 13

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 14

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 15

Income from business includes______?

A	Trade
B	Profession
C	Hire or lease of immoveable property
D	AOT

Question 16

Chapter one of Income Tax Ordinance deals with _____?

A	Miscellaneous
B	Preliminary
C	Tax on taxable income
D	NOT

Question 17

How many chapters are there in Income Tax Ordinance 2001?

A	6
B	10
C	11
D	13

Question 18

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 19

According to which section of Income Tax Ordinance the income tax on agriculture is exempted?

A	16
B	13
C	41
D	14

Question 20

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 21

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 22

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 23

4^th head of Income discusses about _____________?

A	Salary
B	Property
C	Business
D	Capital gains
E	NOT

Question 24

Foreign government officials are exempted from income tax under section _____ of Income Tax Ordinance 2001?

A	41
B	42
C	43
D	44

Question 25

In which section of Income Tax Ordinance of 2001 tax concession is discussed?

A	51
B	52
C	53
D	54

Question 26

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 27

There are _______ schedules in Income Tax Ordinance 2001?

A	4
B	13
C	7
D	14

Question 28

Salary includes__________?

A	Pay
B	Wages
C	Remuneration
D	Pension
E	AOT

Question 29

__________ sections in Income Tax Ordinance 2001?

A	49
B	76
C	24
D	242

Question 30

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 31

Income from moveable property falls under which head of income?

A	Business
B	Property
C	Salary
D	NOT

Question 32

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 33

Income Tax Ordinance 2001 was promulgated on __________?

A	1st July
B	13 September
C	1st June
D	31st July

Question 34

Employee share schemes are discussed under which section of Income Tax Ordinance 2001?

A	11
B	12
C	13
D	14

Question 35

Tax concession and exemptions are discussed under ____ schedule of Income Tax Ordinance 2001?

A	1st
B	2nd
C	3rd
D	4th

Question 36

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 37

Income from property is discussed under section ________of Income Tax Ordinance 2001?

A	14
B	15
C	16
D	NOT

Question 38

Income from property means__________?

A	Income from rent
B	Income from selling a house
C	Both a and b
D	NOT

Question 39

Third head of Income deals with _____________?

A	Salary
B	Business
C	Property
D	Capital gain

Question 40

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 41

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 42

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 43

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 44

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 45

Employee share schemes are ______ in salary head of income.

A	Chargeable to tax
B	Not chargeable to tax
C	Optional
D	NOT

Question 46

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 47

Heads of income are discussed in which chapter of Income Tax Ordinance 2001?

A	1st
B	2nd
C	3rd
D	4th

Question 48

Second head of income explains about________?

A	Business
B	Property
C	Capital Gain
D	Salary
E	Other sources

Question 49

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 50

Income Tax Ordinance 2001 extends to __________?

A	Punjab
B	Sindh
C	Whole Pakistan
D	KPK

Question 51

5^th head of Income deals with _____________?

A	Property
B	Salary
C	Other sources
D	Business

Question 52

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 53

There are __________ heads of Income?

A	3
B	4
C	5
D	6

Question 54

Section 11 of Income Tax Ordinance deals with ___________?

A	Total Income
B	Taxable Income
C	Heads of Income
D	NOT

Question 55

If a person gains income from immovable property, then it falls under _______ head of Income?

A	Salary
B	Business
C	Property
D	NOT

Question 56

Speculation business is discussed under which section of Income Tax Ordinance 2001?

A	17
B	18
C	19
D	20

Question 57

Salary is discussed under section _______ of Income Tax Ordinance 2001?

A	11
B	12
C	13
D	14

Question 58

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 59

Agricultural income under Income Tax Ordinance is discussed under section _____?

A	40
B	41
C	42
D	43

Question 60

Income from other sources is discussed under which section of Income Tax Ordinance 2001?

A	37
B	38
C	39
D	40

Question 61

Exemption and tax concessions in Income Tax Ordinance are discussed under chapter?

A	2nd
B	3rd
C	4th
D	NOT

Question 62

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 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

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 65

Deduction of losses are explained under _______ section of Income Tax Ordinance 2001?

A	35
B	36
C	37
D	38

Question 66

Income Tax Ordinance 2001 became effective from ___________?

A	1st July 2001
B	13 September 2001
C	1st July 2002
D	1st June 2001

Question 67

Exemption under international agreement is discussed under section ___________ of Income Tax Ordinance 2001?

A	39
B	41
C	42
D	44

Question 68

Capital gains are discussed under which section of Income Tax Ordinance 2001?

A	17
B	37
C	38
D	18

Question 69

All foreign government officials are _________?

A	Required to pay income tax
B	Exempted from income tax
C	Both a and b
D	NOT

Question 70

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 71

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 72

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 73

Value of Perquisites is discussed under ____ section of Income Tax Ordinance 2001?

A	12
B	13
C	14
D	15

Question 74

Non-adjustable amounts received in relation to building fall under which head of income?

A	Business
B	Property
C	Salary
D	Capital Gain

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