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Commerce Most Important Solved MCQs Online Test No. 46

Lecturer Commerce / BPSC Commerce MCQs, Commerce, Commerce MCQs, CSS Commerce MCQs, E business MCQs, e commerce MCQs, KPPSC Commerce MCQs, Lecturer Commerce MCQs, PMS Commerce MCQs, PPSC Commerce MCQs, PPSC lecturer Commerce, ppsc test preparation for lecturer commerce, SPSC Commerce MCQs, Subject Specialist Commerce

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Note:-

There will be 25 multiple choice question in the test.
Answer of the questions will change randomly each time you start this test.
Practice this test at least 5 times if you want to secure High Marks.
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Test Instructions:-
Test Name	Lecturer Commerce
Subject	Commerce Test 46
Test Type	MCQs
Total Questions	25
Total Time	20 Minutes
Total Marks	100

You have 20 minutes to pass to the quiz.

Lecturer Commerce Online Test No. 46

1 / 25

The highest executive authority of income tax in Pakistan is:

Board

Commissioner

Deputy Commissioner.

None of above

2 / 25

Different authorities of income tax are described in Income Tax Ordinance 2001 under section:

207

209

211

None of the above

3 / 25

Deduction of tax at source have great importance:

It saves time.

Collection of tax becomes easy"

Both (a) & (b)

None of above

4 / 25

Recovery proceeding can be initiated against defaulter of income tax by income tax authorities:

False

True

Both A & B

None of these

5 / 25

Modes of Recovery of income tax under section 138 of income tax ordinance 2001 are:

Attachment of property.

Sale of property.

Appointment of receiver.

Arrest & detention

All of above

6 / 25

The principle of deduction of tax at source is applicable as under:

Salary

Dividend

Profit on debt

All of above

7 / 25

Any person conceals his income before tax authorities penalty imposed is:

Rs.25000

Equal to tax which person evaded.

Both (a) & (b)

None of above

8 / 25

Any tax payer fails to pay the tax within specified time, the amount of penalty imposed is:

First default 5% of tax.

Second default additional penalty 25% of the tax.

Third default 50%

All of above

9 / 25

Who is entitled to claim refund:

Person who paid tax/tax payer.

Guardian.

Receiver & Trustee.

Legal representative of tax payer.

All of above

10 / 25

Alternative dispute resolution is described under section:

134

134A

135

None of above

11 / 25

The principle of mens-rea is not applicable under the tax laws regarding:

Imposition of penalty

Imposition of deduction.

Imposition of refund

None of above

12 / 25

Rectification of Mistakes is described under section:

221

222

223

None of above

13 / 25

Ignorance of law provides no defence against penal liability:

True

False

Both A & B

None of these

14 / 25

Whenever a case is reconsidered by the same or the higher administration authority it is known as:

Revision

Review

Appeal

None of the above

15 / 25

The appellate tribunals is disposing of an appeal under section:

132

133

134

None of the above

16 / 25

Section 170 of Income Tax Ordinance 2001 described the procedure of:

Refunded

Dividend

Deduction

None of above

17 / 25

Principles in respect of deduction are laid down:

Method of accounting regularly used by assessee.

Expenditure should be from tax payer.

Expenditure should be in that income year in which such income assessed.

All of above

18 / 25

Income tax authority mean such authority which are appointed for the administration of taxation system:

True

False

Both A & B

None of these

19 / 25

Reference filed before High Court does not effect the recovery:

False

True

Both A & B

None of these

20 / 25

Reference filed before High Court under section:

132

133

134

None of above

21 / 25

A tax payer can take back the amount which has been paid by him it is in excess this is called:

Refund

Deduction

Dividend

None of above

22 / 25

Any person without reasonable cause fails to maintain accounts, the penalty imposed is:

Rs. 10,000

5% of the amount of tax on income which ever is higher.

Both (a) & (b)

None of above

23 / 25

Penalty is a punishment:

Corporeal or pecuniary.

Civil or Criminal

Both (a) & (b)

None of above

24 / 25

Authorities who can recover income tax:

Commissioner Inland.

Deputy Commissioner Inland Revenue.

Both (a) & (b)

None of above

25 / 25

Service of Notices and other documents is described under section:

218

220

219

None of above

Your score is

The average score is 0%

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