FIN623 Current FinalTerm Paper 23 August 2016
TOTAL 55 Questions , 46 MCQ'S mostly from past pprs.
Q1. What is the tax treatment of leave salary? 3 marks
Q2.What is the tax treatment of pansion under clause 16& 17 of part 1 of the 2nd schedule related to "Saheeds" ? 3Mraks
Q3. If rent received in advance for more than 1 year, wholly taxable in the year received ? 3marks
Q4. Who are required to file the return to Income Tax ? 3marks
Q5.What is meant by Initial allowances & Pro-commence expenditure under section 23 &25 ? 5Marks
Q6. Amounts were given & i had to determine gross total Income. 5marks
Q7.Scenario was given & i have to calculate the tax payable 5Marks
Q.8 Case1: If tax filing is done between 1-1-2009 till 30-6-2009, Mr.farhan returns back after the filing date will his filling of tax be accepted?
Case2 :Shortly he is going to submit his tax filing, will he receive acknowledgment form for his submission?
Case3: who will sign the companies tax filling ? 5Marks