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3. There is how many chapters included in Income Tax Ordinance?
a) 11 Chapters b) 12 Chapters c) 13 Chapters d) 14 Chapters
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4. There is how many schedules included in Income Tax Ordinance 2001?
a) 9 Schedules b) 6 Schedules c) 7 Schedules d) 8 Schedules
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5. There is how many sections included in Income Tax Ordinance 2001?
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a) 235 sections b) 240 sections c) 250 sections d) 260 sections
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6. Corporate tax is levied on:
a) Landlords b) Municipal corporation
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c) The Federal Excise Act, 2005 d) The Federal Excise Act, 2007
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8. Name of Central Excise Duty has been changed as a Federal Excise Duty on
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9. Inland Revenue Wing of the FBR was created, which is combination of ___ domestic taxes.
a) 3 b) 4 c) 5 d) 6
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13. The most important source of a government is:
a) Foreign loans b) Taxes
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c) Printing of new money d) Sale of government property
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14. In Pakistan, taxes are levied by:
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a) Prime minister of Pakistan b) President of Pakistan
c) Federal Cabinet of ministers d) National Assembly
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15. Government finance is called sc
a) National Finance b) Public finance c) Private finance d) Both a and b
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22. Which tax is not shared between central and provincial governments?
a) Excise tax b) Sales tax c) Custom duty d) Property tax
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a) Excise tax b) Sales tax c) Import duty d) Motor token tax
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24. The budget estimate prepared by ministry of finance is finally approved by:
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a) State Bank b) President c) Senate d) National Assembly
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25. Devaluation means
a) Change in the currency of a country
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b) Decrease in the value of gold
c) Decrease in the value of money in terms of foreign currency
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d) Decrease in the value of money internally
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29. Special procedure under the title of Sales Ta special procedure (Withholding Tax) Rules 2007
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31. There is how many schedules included in the Sales Tax Act, 1990?
a) 9 schedules b) 6 schedules c) 7 schedules d) 8 schedules
32. There is how many sections included in the Sales Tax Act. 1990?
a) 75 Sections b) 80 sections c) 85 sections d) 95 sections
33. Which section of sales tax act, 1990 deals with Special Audit by Chartered Accountants or Cost
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Accountants?
a) 29 b) 30 c) 31 d) 32-A
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34. Which Section of the Sales Tax Act, 1990 deals with offences and penalities?
a) 33 b) 34 c) 35 d) 36
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35. No person other than a ________ shall make any deduction or reclaim input tax in respect of
or
taxable supplies made or to be made by him.
a) Unregistered person b) Registered person sc c) Association d) None of these
40. Which tax is not shared between central and provincial governments?
a) Excise tax b) Sales tax c) Custom duty d) Property tax
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44. Pakistan fiscal year start from:
a) 1st September b) 1st January c) 1st April d) 1st July
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45. As per law each registered person must file a return by the _________ of each month regarding
the sales made in last month.
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a) 10th b) 15th c) 20th d) 25th
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46. There are ___ director generals in FBR?
a) 6 b) 7 c) 9 d) 10
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47. There are ___ large taxpayer units for inland revenue collection
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a) 2 b) 5 c) 3 d) 6
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48. Fiscal laws means a general reference to the laws relating to:
a) Budget matters b) Finance matters c) Tax matters d) None of these
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ANSWERS
1d 2d 3c 4d 5b 6c 7c 8b 9a 10c
11a 12d 13b 14d 15b 16d 17c 18b 19b 20c
21c 22d 23d 24d 25c 26a 27b 28d 29c 30c
31a 32a 33d 34a 35b 36c 37d 38b 39a 40d
41d 42b 43c 44d 45b 46b 47c 48b 49c 50b