Solved Inspector Inland Revenue Past Papers

 1. Appropriate officer” means an ________ authorized by the Board by notification in the official Gazette to perform certain functions under this Act

a) Assistant Commissioner Inland Revenue

b) Deputy Commissioner Inland Revenue

c) Commissioner Inland Revenue

d) Officer of Inland Revenue


2. A registered person becomes an inactive taxpayer if it satisfies all

the following conditions except:

a) Fails to file tax return by the due date for one month

b) Fails to files return by the due date for two consecutive months

c) Fails to files return by the due date far three consecutive months

d) Fails to files return by the due date for four consecutive months


3. The Appellate Tribunal Inland Revenue is established under Section

a) 128 of the Income Tax Ordinance, 2001

b) 129 of the Income Tax Ordinance, 2001

c) 130 of the Income Tax Ordinance, 2001

d) 131 of the Income Tax Ordinance, 2001


4. A person will become an Inactive taxpayer if satisfies all the following conditions except:

a) Tax return statement under Sections 114 or 115 under the Income Tax Ordinance, 2001

b) who fails to file two consecutive monthly or an annual withholding tax statement under Section 165 of the Income Tax Ordinance. 2001?

c) Does not File any tax return

d) Files Tax Returns statements, monthly and annual statements


5. Active taxpayer is a person who does not falls in the category of

a) blacklisted

b) whose registration is suspended

c) Fails to file his tax return under Section 114(4) of the ITO 2001

d) Fails to file his tax return u/s 26 for consecutive two months

e) All of the above.


6. The Sales tax due and payable by in relation to a person under this Act, which has not yet been paid on that day shall be called as __

a) Default

b) Penalty

C) Arrears

d) Surcharge


7. Two persons shall not be associates solely by reason of the fact that

a) one person is an employee of the other or both persons are employees of a third person

b) Both are partners in a concern

c) Both hold shares in a partner concern

d) Both are employing same staff for a task


8. Two persons are not associates it.

a) They have no influential relationship. stake or concern or they can’t act in accordance with each other

b) They have a relationship of influence

c) They can be expected to act in accordance to each other

d) both persons may reasonably be expected to act in accordance with the intentions of a third person


9. Following shall be treated as associates According to Section 2(3):

a) Government and Opposition

b) Government and Contractor

c) Owner and buyer

d) An individual and а relative of the individual


10. An AOP i.e. “association of persons can be any of the following except

a) a firm

b) a Hindu undivided family,

c) anybody of persons formed under a foreign law,

d) a company


11. According to Section 2(5A) a Common taxpayer identification

number is only one of the following:

a) Registration number

b) NTN number

c) STRN

d) FTN


12. According to Section 2(5AA) a company can be any of the following except:

a) a company as defined in the Ordinance, 1984 (XL VII of 1984)

b) a body corporate formed by or under any law in force in Pakistan

c) a modaraba

d) A joint venture of two companies


13. Following Societies shall by fiction of law have their identity as company According to Section2(5AA) except:

a) a simple housing society

b) a co-operative society

c) a finance society

d) any other society established or constituted by or under any law for the time being in force


14. Cottage industry is exclusively defined for a

a) Retailer

b) Wholesaler

c) Manufacturer

d) Distributor


15. A manufacturer is said to be a “cottage industry if its annual turnover from taxable supplies made in any tax period during the last twelve months ending any

tax period does not exceed:

a) Two million rupees

b) Three million rupees

c) Four million rupees

d) Ten million rupees


16. A manufacturer is said to be a “cottage industry if its annual Utility (electricity gas telephone) bills during the last twelve months ending any tax period do not exceed

a) Rs 800,000/-

b) Rs 700,000/.

C) Rs 600,000/-

d) Rs. 500,000/-


17. All of the following except one falls in the category of defaulter According to Section 2(6A):

a) Person

b) Friend

c) Relative

d) Stranger


18. All of the following fall in the category of defaulter According to Section 2(6A) in case of a company or firm except:

a) Employee

b) Guarantors or Successors

c) Director

d) Partner


19. According to Section 217) a Distributor can be appointed by

any one of the following except:

a) manufacturer

b) importer

c) any other person

d) distributor


20. According to Section 2(7) a Distributor can be appointed to operate:

a) in area of manufacturer only

b) In a specified area

c) In an economic zone

d) In an industrial zone


21. According to Section 2(7) a “Distributor can be any one of the following except:

a) Wholesaler

b) Retailer

C) Manufacturer

d) General Order Supplier


22. According to Section 2(9) “due date in relation to the furnishing of a return under Section 26 means

a) the 15th day of the month following the end of the tax period

b) the 14th day of the month following the end of the tax period

c) the 13th day of the month following the end of the tax period

d) the 12th day of the month following the end of the tax period


23. According to Section 219A) ‘e-intermediary means a person appointed as e-intermediary under Section 52A for filing of electronic returns and such other documents as may be prescribed by the Board from time to time, on behalf of a

a) registered person

b) suspended person

c) blacklisted

d) de-registered person


24. According to Section 2(10) an “establishment” is all of the following except:

a) an undertaking

b) firm or company

c) an association of persons or an individual

d) Relative


25. Exempt supply is defined in Section:

a) 11

b) 12

c) 13

d) 14


26. According to Section 2(12) only one of the following falls under

the definition of goods

a) Money

b) Moveable property

c) Stocks

d) Shares


27. According to Section 2(14) input tax will be allowed to

a) Blacklisted person

b) Registered person

c) Suspended person

d) Unregistered person


28. According to Section 2(14) input tax means

a) tax levied under this Act on commission transfer arrangement of goods to the person

b) tax levied under this Act on supply of goods to the person

c) tax levied under this Act on destruction of goods to the person

d) tax levied under this Act on no supply of purchase to the person


29. Input tax credit is allowed on all except one of the following only:

a) Provincial Sales Tax levied on services peidered or provided to the person

b) Tax levied under this Act on supply of goods to the person

c) On The Import of goods by the person

d) District Sales Tax levied under this Act on the import of goods by the person


30. According to Section 2(14) input tax is allowed on any one of the following except:

a) Tax levied under this Act on the import of goods by levied under Federal Excise Act, 2005 in Income tax mode

b) tax levied under the Federal Excise Act, 2005 in Provincial Excise tax mode

c) tax levied under the Federal Excise Act, 2005 in sales tax mode

d) tax levied under the Federal Excise Act, 2005


31. According to Section 2(20) output tax is valid for all except:

a) tax levied under this Act on a supply of goods, made by the person

b) tax levied under the Federal Excise Act, 2005 in sales tax mode

c) Provincial sales tax levied on services rendered or provided by the person

d) tax levied under this Act on the import of goods by the person


32. Open market price” means the consideration in money which that supply or a similar supply would generally fetch in:

a) Stock Exchange

b) an open market

c) an open shop

d) an open plaza


33. Following doesn’t fall in the definition of a “person” According to Section 2(21) of the Sales Tax Act 1990:

a) An individual

b) Provincial Government

c) Federal Government


34. Fiscal Policy deals with_____

a Spending

b. Expenditure

c. Revenue Collection

d. Taxes

e. All of above.


35. Fiscal Policy is used by the government to _____ in the country?

a. Budget

b. Spending and Revenues

C. Influence the economy

d. All of the above.


36. Fiscal Deficit is the gap between:

a. Revenue and Expenditures

b. Imports and Exports

C. Reserves and Borrowings

d. None of the above


37. Fiscal Deficit is measured in terms of % of

a. Gross Domestic Product country

b. Country’s borrowings

c. Country Reserve

d. All Of Above


38. Fiscal Policy Statement is prepared as requirement under

a. Fiscal Responsibility and Debt Limitation Act 2005

b. Public Finance Management Act 2019

c. Finance Act

d. Income Tax ordinance 2001


39. Fiscal Policy Statement is laid before

a.  National Assembly

b.  Senate

C. President

d. Prime Minister


40. Fiscal Policy Statement answers:

a. Total Expenditure & Total Net Revenue

b. Total Fiscal Deficit

c. Total Fiscal Deficit Excluding Foreign Grants

d. Total Public Debt & Per Capita Debt

e. All of Above


41. Total tax revenue for the year 2021-22 has been estimated to be Rs.

a. 5500 Billion

b. 5.829 Billion

C. 5800 Billion

d. 6010 Billion


42. The total revenue receipts for the FY 2021-22 have been estimated to be Rs.

a. 7.908 Billion

b. 7708 Billion

с. 6608 Billion

d. 750B Billion


43. The total budgetary outlay for the FY 2021-22 is Rs

a. 10,262 Billion

b. 10, 500 Billion

C. 10363 Billion

d. 10793 Billion


44. The total current expenditure for the FY 2021-22 have been estimated to be Rs.

a. 9,124 Billion

b. 8124 Billion

C. 7124 Billion

d. 6124 Billion


45. The total development expenditure for the FY 2021-22 have been estimated to be Rs.

a. 1127 Billion

b. 1137 Billion

C. 1227 Billion

d. 1237 billion


46. Provincial share in federal taxes is Rs Billion for the FY 2021-22.

a. 3242

b. 3411

C. 3324

d. 3900


47. The government has planned to raise Rs from external sources (Debt) for the FY 2021-22.

a. 2700

b. 2747

C. 2827

d. 2847


48. Fiscal Deficit for the last financial year has been

a. 7%-7.5%

b. 8%

C. 9%

d. 6%


49. The budget deficit stood at Rs3,375 billion or percent of GDP for the fiscal year 2019-20

a. 9%

b. 8.1 %

с. 7.5 %

d. 6%


50. The total external debt has reached to the tune of Billion USD

a. 110

b. 115

c. 116

d. 118

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