Common Rules Chapter- 16
CA CAF- 6 PAST PAPERS THEORETICAL QUESTIONS
Q.5 (b) Autumn 2013 One of your clients Inqalab Limited wants to change its accounting year.
Required:
Write a brief note to the Finance Manager of the company explaining the requirements of Income Tax
Ordinance, 2001 as regards the following:
(i) Change in tax year’
(ii) Determination of tax year and the date of filing of return in case the accounting year-end is changed
from June to December.
Q.4 (b) Autumn 2011 Explain the following as specified in the Income Tax Ordinance, 2001.
(ii) Fair Market Value
(iii) Apportionment of Expenditures
Q.2(b) Sept 2007: One of your client which is a subsidiary of a foreign company wants to change Its
accounting year from June 30 to December 31 as the income year of its parent company ends on
December 31, Advise the client about the requirements of the ITO, 2001 regarding change in tax year from
normal to special.
Q.2 (a) March 2005 Discuss the common rules with regard to the Fair Market Value
Q. 2 Spring 2005 Discuss the common rules with regard to the following under the Income Tax Ordinance,
2001:
(a) Fair Market Value (FMV)
(b) Income of Joint owners.
(c) Non-arm’s length transactions of disposal of assets.
Q. 2 Autumn 2004 Describe the common rules.
(a) Receipt of income
(b) Currency conversion