Taxation System Chapter- 04
(c) Counted as half day
(d) Counted as two daysQ.52 An industrial undertaking is an undertaking that is engaged in:
(a) the manufacture of goods or materials or the subjection of goods or materials to any process
which substantially changes their original condition
(b) ship-building
(c) generation, conversion, transmission or distribution of electrical energy, or the supply of
hydraulic power
(d) the working of any mine, oil-well or any other source of mineral deposits; and
(e) telecommunication companies operating under the license of Pakistan Telecommunication
Authority (PTA).;
(f) All of the aboveQ.53 A small company has employees:
(a) Not exceeding 10
(b) Not exceeding 250 at beginning of the year
(c) Not exceeding 250 at any time during the year
(d) Not exceeding 250 at the beginning of the yearQ.54 Repealed Ordinance means:
(a) Income Tax Ordinance, 1979
(b) Income Tax Ordinance, 2001
(c) Income Tax Rules
(d) None of the aboveQ.55 A day or part of a day where an individual is in Pakistan solely by reason of being in transit between
two different places outside Pakistan:
(a) Does not count as a day present in Pakistan
(b) Counted as whole day
(c) Counted as half day
(d) Counted as two days
Q.56 For the purpose of Income Tax Ordinance, 2001, Federal Government shall be considered as:
(a) Resident person
(b) Non-resident person
(c) None of the aboveQ.57 Which of the following is not a Royalty income?
(a) the use of, or right to use any patent, invention, design or model, secret formula or process,
trademark or other like property or right;
(b) the use of, or right to use any copyright of a literary, artistic or scientific work, including films or
video tapes for use in connection with television or tapes in connection with radio broadcasting,
but shall not include consideration for the sale, distribution or exhibition of cinematograph films;
(c) the receipt of, or right to receive, any visual images or sounds, or both, transmitted by satellite,
cable, optic fiber or similar technology in connection with television, radio or internet
broadcasting;
(d) Income from lease of moveable or immovable property.