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 FIN623 2010

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PostSubject: FIN623 2010   Tue Jun 01, 2010 5:09 pm

Like a Star @ heaven
Total Question: 32 Marks 44
Total MCQS: 28 Marks 28
Total Long Question: 4 Marks 16
Question 1: What is the Tax treatement of Agriculture Produce to use in the Business of Cultivator? Marks 3
Question 2: Define the Following terms with the Section? (1) Employee (2) Employer (3) Salary Marks 3
Question 3: Mr. Ali is Residuent of Pakistan and working Uk. The Mr. Ali pay the tax in his Salary in UK. What will be the treatement in Pakistan with the Section? Marks 5
Question 4: Explain the Individual in the which ordianace with Section? Marks 5

*****************************************************
28 MCQ's (All are from Past Papers)

List down Tax rules regarding the residential status of individual for the computation of days spending in Pakistan. (3 Marks)

Under which condition income received is categorized under the head Royalty as defined in section 2(54) (3 marks)

An AOP named M/S Khan and Sons has its most of branches in Pakistan is it sufficient to be resident AOP or not ? Explain with Income Tax Ordinance 2001 (5 Marks)

Mr.Shehzad Pakistani citizen who was residing in Pakistan since 1st July 1970, left for Switzerland on 01-08-2008 and come back Pakistan 01-09-2008. He left for Tokyo on 01-12-2008 and stayed there till 20-06-2009 and returned to home country again.
Required: Determine residential status of Mr.Shahzad for Tax Year 2009
*******************************


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