Inspector Inland Revenue Mcqs Mock Paper One

Inspector Inland Revenue Mock Paper

Answer the questions in comments.

1. The Central Board of Revenue was created on:

a) 1st April 1924

b) 6th June 1924

c) 1st May 1924

d) 6th July 1924

2. By the enactment of FBR Act 2007, the Central Board of Revenue has now become.

a) Pakistan Board of Revenue

b) Federal Board of Revenue

c) Federal Authority of Revenue

d) Central Authority of Revenue

3. Who is the current chairman of FBR?

a) Mr. Nisar Muhammad Khan

b) Mr. Tariq Bajwa

c) Mr. Ali Arshad 

d) Mr. Mumtaz Haider Rizvi

4. Inland Revenue Wing of the FBR was created, which is combination of ______________ domestic taxes.

a) 3

b) 4

c) 5

d) 6

5. The operational members of FBR are divided into ______ types members

a) 2

b) 3

c) 4

d) 5

6. The operational members of FBR are divided into Customs and 

a) Senior Revenue Members

b) Central Revenue members

c) Inland Revenue Members

d) None of these

7. Which members of FBR are department heads who are directly responsible for tax collection?

a) Operational Members

b) Support Members

c) Functional Members

d) None of these

8. The Support Members of FBR are divided into _______ types members.

a) 2

b) 3

c) 4

d) 5

9. Who are responsible for Facilitation and Taxpayer Education, enforcement, taxpayer audit, internal audit and Human Resource Management?

a) Operational Members

b) Support Members

c) Functional Members

d) None of these

10. The Functional Members of FBR are divided into _____types members.

a) 2

b) 3

c) 4

d) 5

11. Who are responsible for Inland Revenue policies, Information Technology, administration, legal issues and strategic planning?

a) Operational Members

b) Support Members

c) Functional Members

d) None of these

12. Pakistan Fiscal year starts from:

a) 1st September

b) 1st January

c) 1st April

d) 1st July

13. Which is provincial tax in Pakistan?

a) Excise tax

b) Sales Tax

c) Import Duty

d) Motors token tax

14. There is how many chapters included in Income Tax Ordinance?

a) 11 Chapters

b) 12 Chapters

c) 13 Chapters

d) 14 Chapters

15. There is how many schedules included in Income Tax Ordinance 2001?

a) 9 Schedules

b) 6 Schedules

c) 7 Schedules

d) 8 Schedules

16. There is how many sections included in Income Tax Ordinance 2001?

a) 235 sections

b) 240 sections

c) 250 sections

d) 260 sections

17. Corporate tax is levied on:

a) Landlords 

b) Municipal corporation

c) Joint stock companies

d) Importers

18. Central Excise Act, 1944 was repealed by

a) The Federal Excise Act, 2002

b) The federal Excise Act, 2004

c) The Federal Excise Act, 2005

d) The Federal Excise Act, 2007

19. Name of Central Excise Duty has been changed as a Federal Excise Duty on

a) 1st July, 2003

b) 1st July, 2005

c) 1st July, 2007

d) 1st July, 2008

20. If we deduct direct tax from personal income, we get:

a) Net national income

b) Personal saving

c) Disposable income

d) Per capita income

21. We measure national income by this method:

a) Expenditure Method

b) Income Method

c) Product Method

d) All of above

22. The most important source of a government is:

a) Foreign loans

b) Taxes

c) Printing of new money

d) Sale of government property

23. In Pakistan, taxes are levied by:

a) Prime minister of Pakistan

b) President of Pakistan

c) Federal Cabinet of ministers

d) National Assembly

24. Government finance is called

a) National Finance

b) Public finance

c) Private finance

d) Both a and b

25. A direct tax is that which:

a) Is heavy burden on the tax payer

b) Can be directly deposited in the banks

c) Cannot be evaded

d) Is paid by the person on whom it is levied

26. In Pakistan government budget is prepared by:

a) National Assembly

b) President of Pakistan

c) Ministry of Finance

d) State Bank of Pakistan

27. If government increases taxes, private savings:

a) Increase

b) Decrease

c) Do not change

d) Will become zero

28. Taxes on commodities are: 

a) Direct taxes

b) Indirect taxes

c) Progressive taxes

d) Proportional tax

29. Govt. Prepared its budget:

a) Weekly

b) Monthly

c) Annually

d) Quarterly

30. It is direct tax:

a) Excise tax

b) Sale tax

c) Income tax

d) Custom duty

31. Which tax is not shared between central and provincial governments?

a) Excise tax

b) Sales tax

c) Custom duty

d) Property tax

32. Which is provincial tax in Pakistan?

a) Excise tax

b) Sales tax

c) Import duty

d) Motor token tax

33. The budget estimate prepared by ministry of finance is finally approved by:

a) State Bank

b) President

c) Senate

d) National Assembly

34. Devaluation means

a) Change in the currency of a country

b) Decrease in the value of gold

c) Decrease in the value of money in terms of foreign currency

d) Decrease in the value of money internally

35. Special procedure under the title of Sales Tax special procedure (Withholding Tax) Rules 2007 was introduced on:

a) 20th June 2007

b) 10th June 2007

c) 30th June 2007

d) 25th June 2007

36. Whom of the following propounded principles of taxation: 

a) Keynes

b) Marshall

c) Adam Smith

d) Al Ghaali

37. There is how many schedules included in the Sales Tax Act, 1990?

a) 9 schedules

b) 6 schedules

c) 7 schedules

d) 8 schedules

38. There is how many sections included in the Sales Tax Act. 1990?

a) 75 Sections

b) 80 sections

c) 85 sections

d) 95 sections

39. Which section of sales tax act, 1990 deals with Special Audit by Chartered Accountants or Cost Accountants?

a) 29

b) 30

c) 31

d) 32-A

40. Which Section of the Sales Tax Act, 1990 deals with offences and penalties?

a) 33

b) 34

c) 35

d) 36

41. No person other than a ________ shall make any deduction or reclaim input tax in respect of taxable supplies made or to be made by him.

a) Unregistered person

b) Registered person

c) Association

d) None of these

42. In Pakistan, income tax is collected by:

a) Local govt.

b) Provincial govt.

c) Federal govt.

d) All governments

43. Sales tax in Pakistan is:

a) Direct and progressive

b) Direct and proportional

c) Indirect and progressive

d) Indirect and proportional

44. It is easy and convenient to pay:

a) Direct tax

b) Indirect tax

c) Proportional tax

d) Progressive tax

45. It is difficult to evade:

a) Direct tax

b) Indirect 

c) Proportional

d) Progressive tax

46. Which tax is not shared between central and provincial governments?

a) Excise tax

b) Sales tax

c) Custom duty

d) Property tax

47. What is benefit of tariffs?

a) Increased choice

b) Increased government revenue

c) More competition

d) More trade

48. Pakistan public debt is:

a) Larger than GNP

b) Equal to GNP

c) Smaller than GNP

d) Smaller than our exports

49. As per law each registered person must file a return by the _________ of each month regarding the sales made in last month.

a) 10th

b) 15th

c) 20th

d) 25th

50. There are ___ director generals in FBR?

a) 6

b) 7

c) 9

d) 10