Professional Documents
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17. Deductions from annual rental value are allowed under section-
(A) Sec 14
(B) Sec 15
(C) Sec 15A (1)
(D) Sec 16
18. Standard deduction as repair allowance from annual rental value is allowed as-
(A) 20% of AV
(B) 15% of AV
(C) 25% of AV
(D) 30% of AV
19. The rate of depreciation allowed on machinery is-
(A) 10%
(B) 5%
(C) 15%
(D) 20%
Clubbing of income means-
(A) Addition income of two partners
(B) Inclusion of income of other person in assessee’s income
(C) Total of income of various heads
(D) Collection of income
21. Minor’s income is clubbed to-
(A) Father’s income
(B) Mother’s income
(C) Father’s or mother’s income, whichever is greater
(D) Both mother’s & father’s income
22. Loss from speculated business can be carried forward for-
(A) 2 years
(B) 6 years
(C) 8 years
(D) Unlimited years
23. From which head of income an assessee never occur any loss?
(A) Property
(B) Salary
(C) Capital gain
(D) Business and profession
24. Maximum relief allowed for senior citizen under is-
(A) 20% of taxable income
(B) 30% of taxable income
(C) 40% of taxable income
(D) 50% of taxable income
25. Tax rate under FTR on lottery is-
(A) 20%
(B) 25%
(C) 30%
(D) 35%
26. Tax rate on dividend will be …….., if the dividend is declared by a Power Generation
company
(A) 7.5%
50. Entertainment allowance will be deducted from gross salary in case of-
(A) Govt. employee (B) Non-govt. employee
55. In case of rental house property only such municipal tax is deducted which is-
(A) Paid by tenant (B) Actual payable amount
(C) Paid by owner (D) All of the above
71. Income of Pakistani cricketers for playing test match is taxable under the head-
(A) Professional income
(B) Income from salary
(C) Income from other sources
(D) None