Preliminary Chapter- 04
CA CAF- 6 PAST PAPERS THEORETICAL QUESTIONS
Q. NO. 4 (c) Spring 2022
Following information pertains to three unlisted companies:
Company Paid up Capital Total reserves Annual Turnover Shareholders
Rupees in million
A Limited 30 80 150 60% shares are held
by foreign company
B Limited 80 - 35 220 40% shares are held
by provincial and
federal government
C Limited 40 5 500 100% shares are
held by a local group
Required:
Under the provisions of the Income Tax Ordinance, 2001 briefly discuss whether each of the above companies can be
classified as small, public or private. Also state the additional information, if any, which may be required for
determining the classification of these companies.
Q. NO. 2 (a)(ii) Spring 2022
Under the provisions of the Income Tax Ordinance, 2001 discuss the tax
implication/treatment in each of the following independent matters:
Payment of any sum by a private company to its shareholder by way of a loan.
Q. NO. 2 (a) Autumn 2019
Explain the term ‘Rent’ with relation to ‘Income from property’
Q. NO. 5 (a) Spring 2019
Briefly discuss the difference between a public company and a private company, within the meaning of
Income Tax Ordinance, 2001.
Q. NO. 5 (b) Spring 2019
Certain types of payments by a private company to its shareholders can be treated as ‘dividend’ under the
Income Tax Ordinance, 2001. State the conditions necessary for the application of this rule and the
exceptions to such rule.
Q. NO. 2 AUTUMN 2018
Kaleem Limited (KL) is a listed company and its accounting year ends on 30 June. KL is now considering to
change its accounting year from 30 June to 30 September.
Under the provisions of the Income Tax Ordinance, 2001:
(a) briefly describe normal , special and transitional tax year.
(b) state the requirements regarding change in tax year from normal to special.(c) (^) state the tax year corresponding to the income year ended 30 September 20X8 and the due
date for filing the return of income.
Q.No.3(b) Autumn 2016 Under the provisions of the Income Tax Ordinance, 2001 describe the following:
(i) meaning of the term ‘Associates’
(ii) circumstances in which a member of an association of persons and the association may be regarded
as associates.
(iii) situation in which members of an association of persons may not be regarded as associates.