Tax Book 2023

Preliminary Chapter- 04

(b) a company in which not less than 50% of the shares are held by a foreign Government, or a

foreign company owned by a foreign Government

(c) a company whose shares were traded on a registered stock exchange in Pakistan at any time

in the tax year and which remained listed on that exchange at the end of that year

(d) a unit trust whose units are widely available to the public and any other trust as defined in the

Trusts Act, 1882.

(e) None of the above

Q.46 Which of the following is not rent?

(a) Forfeited deposit paid under a contract for the sale of land

(b) Forfeited deposit paid under a contract for the sale of Building

(c) Non-adjustable amounts received in relation to buildings

(d) Non-adjustable amounts received in relation to Land

Q.47 A company shall be a resident company for a tax year if -

(a) It is incorporated or formed by or under any law in force in Pakistan

(b) The control and management of the affairs of the company is situated wholly in Pakistan at any

time in the year

(c) It is a Provincial Government or Local Government in Pakistan

(d) All of the above

Q.48 An individual shall be a resident individual for a tax year if the individual -

(a) Is present in Pakistan for a period of, or periods amounting in aggregate to, 183 days or more

in the tax year

(b) Is an employee or official of the Federal Government or a Provincial Government posted

abroad in the tax year

(c) being citizen of Pakistan is not a tax resident of any other country for more than 182 days during

the tax year or who is not a resident taxpayer of any other country.

(d) Any of (a), (b) or (c) above

(e) None of the above

Q.49 For the purpose of residential status of an individual, the day on which he arrives Pakistan shall be:

(a) Ignored

(b) Counted as whole day

(c) Counted as half day

(d) Counted as two days

Q.50 For the purpose of residential status of an individual, the day on which he leaves Pakistan shall be:

(a) Ignored

(b) Counted as one whole day

(c) Counted as half day

(d) Counted as 2 days

Q.51 For the purpose of residential status of an individual, the day on which he leaves Pakistan shall be:

(a) Ignored

(b) Counted as whole day