Taxation | MCQs

Explanation

Nisab of zakat for silver is 52 1/2 tola

Zakat literally means Purification.

When Zakat was made compulsory in 2 A.H (properly implemented in 8 Hijri.

The word Zakat occurs 32 times in the Holy Quran.

Hazrat Abu Baker did Jihad on the issue of Zakat.

Without which act the prayer is useless? Zakat

One who disbelievers in Zakat is a Kafir

“Zakat” is the treasure of Islam, who said this? Holy Prophet (PBUH)

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Explanation

Akbar introduced an efficient and fair tax system called the Zabt system based on land measurement.

It increased revenue collection and reduced corruption, becoming a model for future administrations.

Explanation

• there is no Zakat on diamonds or coloured gemstones while one owns them as adorns or decorations in regular quantities and not in measures of identified extravagance, or in forbidden paperwork, or for prohibited makes use of.
• via a long way, women's jewelry money owed for his or her most commonplace Zakat exemption.
  

Explanation

• Hazrat Abu Bakr, the first Caliph, engaged in Jihad over the issue of Zakat.
• During the Ridda Wars in July 632, he dispatched envoys to rebellious tribes demanding payment of Zakat, but they refused.

Explanation

The procedure relating to recovery of Usher in case of Non payment under section 17 has been laid down in Zakat and Usher rules 1980 

Explanation

Explanation

City taxes are based on an "Appraisal " value of one's property.

سٹی ٹیکس کسی کی جائیداد کی "تشخیص" قیمت پر مبنی ہوتے ہیں۔

...

Another word used for "estimated" is "Appraisal"

An appraisal is best to keep the meaning of the original sentence.

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estimated is a phrasal verb that means to judge something with respect to its worth or significance

estimate meaning تخمینہ

Appraisal meaning جائزہ
ND16-8-2023

Explanation

CBR stands for Central Board of Revenue.

The Central Board of Revenue was created on April 01, 1924.

through the enactment of the Central Board of Revenue Act, 1924

In 1944, a full-fledged Revenue Division was created under the Ministry of Finance until 1960.

 In 1974, further changes were made to streamline the organization and its functions.

In 1991, the CBR once again reverted to its original status under the Revenue Division,

however, in January 1995, the Revenue Division was abolished and the CBR was once again reverted to a division of the Ministry of Finance.

In 2007, the "FBR Act" was passed in July 2007,

whereby the Central Board of Revenue was renamed to the present-day Federal Board of Revenue (FBR) and for a third time placed again under the Revenue Division of the Ministry of Finance

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Explanation

Muhammad Najeeb Haroon paid 140.750 million lac tax for the year 2019.

Explanation

APPLIES  لاگو ہوتا ہے۔

Involves شامل ہے۔