Tax Book 2023

Preliminary Chapter- 04

Q.30 Member in relation to an AOP, includes:

(a) Partner in a firm

(b) Manager of the firm

(c) Director

(d) Employee of the firm

Q.31 Minor child means an individual who is under the age of 18 years at the:

(a) Beginning of a tax year

(b) End of a tax year

(c) Beginning of a Calendar year

(d) End of a Calendar year

Q.32 Mutual Fund means a mutual fund registered or approved by the:

(a) Appellate Tribunal Inland Revenue

(b) Commissioner Inland Revenue

(c) Registrar

(d) Securities and Exchange Commission of Pakistan

Q.33 Salary shall be Pakistan-source income to the extent to which the salary:

(a) is received from any employment exercised in Pakistan, wherever paid

(b) is paid by, or on behalf of, the Federal Government, a Provincial Government, or a Local

Government in Pakistan, wherever the employment is exercised

(c) Both (a) or (b)

(d) None of the above

Q.34 Business income of a resident person shall be Pakistan-source income to the extent to which the
income is derived from:
(a) Business carried on in Pakistan or outside Pakistan
(b) Business carried on outside Pakistan
(c) Business carried on in Pakistan

Q.35 Dividend shall be Pakistan-source income if it is paid by a:

(a) Company incorporated under Companies Ordinance, 1984.

(b) Non-resident company

(c) Resident company

(d) All of the above

Q.36 Profit on debt shall be Pakistan-source income if it is:

(a) Paid by a resident person

(b) Borne by a permanent establishment in Pakistan of a non-resident person.

(c) None of the above

(d) Both (a) and (b)

Q.37 Royalty shall be Pakistan-source income if it is:

(a) Paid by a resident person

(b) Borne by a permanent establishment in Pakistan of a non-resident person.

(c) None of the above

(d) Both (a) and (b)