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Income Tax Ordinance 2001 MCQs with Answers

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Your search is going over for Income Tax Ordinance 2001 MCQs with Answers on this site. Here you will be able to get the important MCQs related to the Income Tax Ordinance 2001. If you are going to attempt any job test like FBR, PTS, NTS, FPSC, or any other then these questions may be asked. This ordinance is very important because the laws regarding income tax are defined in it. The application of this ordinance is very vast. It defines the percentages of the taxes on income or any exemption from the taxes knows. You must have knowledge about these taxes if you are going for any top government jobs. For this, we have provided the important MCQs here. You can prepare for the tests through the online quiz below.

Income Tax Ordinance 2001 MCQs with Answers

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Income Tax Ordinance 2001 MCQs

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1. In HRA, Salary includes:

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2. Section 18 of the income tax ordinance deals with:

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3. A better way of reducing tax liability is:

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4. Taxation regarding income from the property is provided in which of the following sections of the income tax ordinance?

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5. Accelerated depreciation allowance is available for installing any plan, machinery and equipment for the generation of:

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6. The total income of an individual does not include

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7. The tax rate under FTR on the lottery is:

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8. The deduction shall only be against the leased rental income regarding the assets of:

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9. The income of foreign diplomats, and individuals having privileges under the United Nations is ______ from the tax.

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10. The time limit for an appeal to CIR (Appeals is):

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11. What shall be the cost of a depreciable asset being a passenger transport vehicle not plying for hire?

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12. An “Agriculture Income” is _______ from tax under the income tax ordinance.

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13. What type of methods of accounting has been provided in the income tax ordinance?

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14. A person is entitled to a deductible allowance in a tax year in case he has paid:

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15. Which of the following sections is related to depreciation?

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16. The rate of depreciation allowed on machinery is:

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17. The value of a right or option to acquire shares under an employee share scheme granted to an employee shall______.

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18. The speculation business shall be treated as:

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19. Section 19 of the income tax ordinance deals with:

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20. The deduction shall only be against the leased rental income regarding the assets of:

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21. A person shall be allowed deductions for:

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22. The maximum number of members In FBR is:

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23. Capital assets include:

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24. Standard deduction as repair allowance from annual rental value is allowed as:

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25. Loss from speculated business can be carried forward for:

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26. Medical bills reimbursed are exempt:

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27. Who is authorized to make the recovery of tax out of the property and through the arrest of the taxpayer?

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28. Non-monetary salary includes:

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29. What will be the status of a depreciable asset that has been exported out of Pakistan?

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30. Initial allowance is provided under which of the following sections of the Income Tax Ordinance?

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For the sake of the important MCQs, this post is very beneficial for you. The above-given MCQs quiz will help you to learn different sections of this ordinance. Although there are many chapters in it, you need to prepare for the important ones that are given here. So, this Income Tax Ordinance Quiz is very beneficial. Therefore we made this post for the preparation of these MCQs.

In short, these MCQs will help you if you prepare well for the test. So, this is all about the Income Tax Ordinance 2001 MCQs with Answers. Keep following us if you want to get the important MCQs for other tests.

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