Taxation | MCQs

Explanation

The Nisab when Zakat becomes applicable is forty animals that are more than twelve months old.

There is no Zakat if the number is less than forty.

How many camels render are to par Zakat? 5

How many sheep render are to pay zakat? 40

Zakat is payable on gold of_________7.5 tolas

Zakat is payable on silver of_______52.5 tolas

Explanation

The Federal Shariat Court may, on the application of any person, decide the

question whether a declaration such as is referred to in the first or second proviso to

subsection (3) made by any person is valid according to the fiqh he professes to follow; and,

if the Federal Shariat Court decides that the declaration is not valid, such person shall,

without prejudice to any other action that may be, taken against him under any other law, the

liable to pay Zakat or Ushr as the case may be, in the manner laid down in this Ordinance.

Explanation

Explanation

Zakat can be collected through Banks branches 

Explanation

• Jizya is a poll tax historically imposed on non-Muslims in Muslim states.
• In India, Qutb-ud-din Aibak was the first to impose Jizya.
• The tax was abolished by Mughal ruler Akbar in the 16th century but reintroduced by Aurangzeb in the 17th century.
• Kharaj was a land tax imposed on non-Muslim cultivators and landlords.

Explanation

Justice (Retd) Saleem Akhtar was the first Federal Tax Ombudsman, (hereinafter called FTO).

who held office from September 2000 to September 2004.

Explanation

The Federal Board of Revenue (FBR) on 23 06 2022 imposed a 10% regulatory duty on the import of motor spirit — a transparent, petroleum-derived liquid that is used primarily as a fuel in internal combustion engines — from June 30, 2022.

Explanation

A PAN provides data transmission among devices such as computers, smartphones, tablets and personal digital assistants.

*************

VU FIA SUB INSPECTOR PAPER 30-1-2021

Explanation

Liable for means responsible for

Liable for ذمہ دار قرار دینا

Liable to means entitled to.

Liable to حقدار

You will be liable to tax on the interest. 

Explanation