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FIN623Current Midterm Paper Fall 2013 Shared by SAMIA RASHEED File 3



on December 21, 2013 at 12:29pm
my today's paper
it was very easy paper too much easy paper 95% FROM PAST PAPER 
SUBJECTIVE PORTION WAS VERY EASY MCQS RELATED RESIDENT,NON-RESIDENT,PERMANENT ESTABLISHMENT AGRICULTURE NON-AGRICULTURE MEANS PAPER WAS CONCEPTUAL BASED.
timing:10:30 am to 11:30 am   21-December-2013 
total question:27
total marks:41 marks
22 mcqs
3 questions 3 marks each 3*3=9
2 questions 5 marks each 2*5=10
Q23:WHAT IS THE TAX TREATMENT OF AGRICULTURAL PRODUCE WHERE IT IS USED AS RAW MATERIAL IN THE BUSINESS OF CULTIVATOR?3 MARKS
ANSWER:
SEE
ACCORDING TO RULE 11
LESSON-11
Q24: YAD NAHI EXACT QUESTION BUT AGRICULTURE INCOME SAI AYA THA.3 MARKS 
Q25: EXPLAIN THE CONCEPT OF "PERMANENT ESTABLISHMENT". 3 MARKS
Q26: DEFINE THE FOLLOWING UNDER THE INCOME TAX ORDINANCE 2001 WITH RESPECTIVE SECTIONS:5 MARKS
1.RESIDENT INDIVIDUAL
2.RESIDENT AOP
ANSWER:
SEE LESSON 14
Q27: LIST DOWN SOME IMPORTANT "CHARACTERISTICS OF SALARY" 5MARKS
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