Losses Chapter- 14
Q.8 The assessed brought forward losses and capital loss of the amalgamating company can be adjusted
with the profits and gains of the amalgamated company for up to:
(a) 6 years succeeding from the year of amalgamation
(b) 10 years from the succeeding year of amalgamation
(c) 5 years succeeding the year of amalgamation
(d) None of the above
Q.9 The business loss and unabsorbed depreciation can be set off or carry forward if the amalgamated
company (other than banking and non banking companies) continues to carry the business of the
amalgamating company at least for the period of_____.
(a) 6 years
(b) 5 years
(c) 4 years
(d) None of above
Q.10 Any unabsorbed depreciation allowance under the Income Tax Ordinance, 2001 shall be carried
forward up to the period of_____.
(a) 6 years
(b) 7 years
(c) 10 years
(d) Indefinite period
Q.11 Foreign loss sustained by a resident person shall___.
(a) Be set off against any head of income
(b) Be set off against business income only which is earned in Pakistan
(c) Be set off against his foreign source income and to be carried forward under the same head of
income
(d) Not be set offQ.12 Foreign losses can be carried forward up to the period of____.
(a) 10 years
(b) 6 years
(c) Cannot be carried forward
(d) None of the aboveQ.13 Loss sustained by a permanently exempt business during the exemption period can_____.
(a) Not be set off or carried forward
(b) Be carried forward upto the period of 6 years after the end of exemption period
(c) Be carried forward upto the period of 6 years including the exemption period
(d) None of the aboveQ.14 A subsidiary company’s loss can_____.
(a) Be set off and carry forward upto the period of 6 years
(b) Not be carry forward
(c) Be set off and carry forward for an indefinite period
(d) None of the above