Quiz-05 8.3.11 - 3 For the purpose of the Income Tax...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
LUMS Quiz-05 (08.03.11) Name: ----------------------------------------------------------------- Please write TRUE or FALSE legibly on the line . 10 marks 1. Silko Ltd., a company based in Sri Lanka but registered in Karachi would not be liable to tax in Pakistan as its income is arising outside Pakistan. __________________________ 2. Mr. Z has income from three different types of business including speculation business. He is to file only one return in respect of all these sources.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ___________________________ 3. For the purpose of the Income Tax Ordinance 2001, a person is liable to tax only in respect of lawful business. ___________________________ 4. Mr. Y is a Dutch national but is living in Pakistan for the last 2 years. He is not required to file a return of income. ____________________________ 5. Agricultural income is taxed by the Federal Government. _______________________________...
View Full Document

This note was uploaded on 05/17/2011 for the course ECON 201 - ECON 201 - taught by Professor Charlesc.chiemeke during the Spring '09 term at American University of Kuwait.

Ask a homework question - tutors are online