FIN623Current Midterm Paper Fall 2013 Shared by SAMIA RASHEED File 3

on December 21, 2013 at 12:29pm

my today's paper

it was very easy paper too much easy paper 95% FROM PAST PAPER 

SUBJECTIVE PORTION WAS VERY EASY MCQS RELATED RESIDENT,NON-RESIDENT,PERMANENT ESTABLISHMENT AGRICULTURE NON-AGRICULTURE MEANS PAPER WAS CONCEPTUAL BASED.

timing:10:30 am to 11:30 am   21-December-2013 

total question:27

total marks:41 marks

22 mcqs

3 questions 3 marks each 3*3=9

2 questions 5 marks each 2*5=10

Q23:WHAT IS THE TAX TREATMENT OF AGRICULTURAL PRODUCE WHERE IT IS USED AS RAW MATERIAL IN THE BUSINESS OF CULTIVATOR?3 MARKS

ANSWER:

SEE

ACCORDING TO RULE 11

LESSON-11

Q24: YAD NAHI EXACT QUESTION BUT AGRICULTURE INCOME SAI AYA THA.3 MARKS 

Q25: EXPLAIN THE CONCEPT OF "PERMANENT ESTABLISHMENT". 3 MARKS

Q26: DEFINE THE FOLLOWING UNDER THE INCOME TAX ORDINANCE 2001 WITH RESPECTIVE SECTIONS:5 MARKS

1.RESIDENT INDIVIDUAL

2.RESIDENT AOP

ANSWER:

SEE LESSON 14

Q27: LIST DOWN SOME IMPORTANT "CHARACTERISTICS OF SALARY" 5MARKS