Tax Credits Chapter- 15
Q.16. A tax credit at the average rate of tax shall be allowed to a person for contribution to approved
pension fund if he derives income from _____.
(a) Salary
(b) Business
(c) Both ‘a’ and ‘b’
(d) None of these
Q.17. The total allowed contribution made to approved pension fund on the basis of age above 40 years on
July 0 1 , 2006 should not be more than ___ taxable income of the year.
(a) 10%
(b) 20%
(c) 30%
(d) 50%
Q. 18. Tax credit for enlistment of a company in any stock exchange in Pakistan shall be _____of
the tax payable for the tax year in which the said Company is enlisted. – Omitted by FA, 2021
(a) 10%
(b) 15%
(c) 20%
(d) 0 %
Q. 19. Where tax liability is less than the tax credit of a person, who is also a member of an AOP and AOP
having tax payable then the excess amount would be_____.
(a) Carried back
(b) Carried forward
(c) Claimed by the AOP as tax credit
(d) Claimed by the person as tax credit
ANSWERS
1 (a) 2 (c) 3 (c) 4 (d) 5 (b)
6 (a) 7 (b) 8 (a) 9 (b) 10 (b)
11 (d) 12 (d) 13 (d) 14 (d) 15 (a)
16 (c) 17 (d) 18 (d) 19 (c)