Computation of Taxable Income Chapter- 06
MULTIPLE CHOICE QUESTIONS
- Business income of a minor child (other than income from inherited property) shall be clubbed with
the income of his parent with
(a) Lesser taxable income(b) Greater taxable income(c) Any of them or(d) None of the above- The tax liability of a member of an AOP is determined by considering
(a) Share from AOP(b) Other Income(c) Both of income(d) None of these- An AOP is taxed
(a) along with its members(b) separate from its member
(c) Both ‘a’ and ‘b’(d) one of these- The foreign source salary income of a resident individual is
(a) Exempt from tax(b) Exempt if foreign tax is paid, where applicable(c) Not exempt- A resident taxpayer deriving foreign source business income is allowed a tax credit of
(a) Foreign income tax paid(b) Pakistan income tax payable(c) Lesser of ‘a’ and ‘b’(d) none of above- Any foreign tax credit in excess of tax liability may be ____.
(a) Refunded(b) Carried back(c) Carried forward
(d) None of these- __received by a member of an AOP is taxable as share of income.
(a) Salary(b) Commission(c) Profit on debt(d) all of (a) to (c)