Chapter-7
1
1)
Mr. Ashraf Ali has a less tax govt.
security which value is 200000. What is the amount of net interest of the
security?
a) 20,000
b) 9,500
c) 18,000
d) 22,222
2)
Which one is the interest income?
a) Interest
on security certificate
b) Interest
on fixed deposit
c) Interest from zero coupon bond
d) Interest
from a company on a book debt.
3)
Mr. Rahman has a treasury bond of
tk. 10, 00,000 on which interest rate is 12%. His total taxable income
excluding the interest of his bond is tk. 5, 00,000. Which is his taxable
income now?
a) 633333
b) 500000
c) 620000
d) None
of the above
4)
The amount of gross interest of a
tax free govt. security is tk. 10,000. What is the amount of net interest?
a) 9000
b) 11111
c) 10200
d) None
of the above
5)
Under which section of ITO 1984 the
definition of security is provided?
a) Section
22
b) Section
2(38)
c) Section
2(42)
d) None of the above
6)
Bank commission charges which have
been deducted by the bank for collecting interest will be an allowable expense
& bank commission charged for purchasing securities will also be considered
as an allowable expense- comment about the above statement :
a) It’s
true
b) It’s partially true
c) It’s
false
d) None
of the above
7)
By cum interest transaction a
_______________ of security can avoid tax.
Answer:
Holder
8)
As the assesse has to pay TDS on
less tax govt. security, interest on this kind of security is ___
a) Exempted
b) Investment
allowance
c) Fully taxable
9)
In case of ex interest transaction
who can avoid tax?
a) The
buyer
b) The
seller
c) Both
d) The
holder of security
10)Mr. X possessed
a security with a value tk. 500000. He sold it to Mr. Y before the date of
assessment & repurchases it after the date of assessment. But Mr. Y had not
to pay any tax on interest income though he holds the security during the date
of assessment. What may be the cause?
a) The
security was tax free govt. security
b) The
security was zero coupon bond
c) Mr. Y’s income is less than the tax
limit
d) Mr.
Y paid the tax on the principle amount
11)In the above
case the situation is called________
Answer:
Bond washing
12)The amount of
gross interest of a less than govt. security is 50,000 & amount of net
interest 45,000 what is the rate of interest?
Answer:
10%
13)No tax is
deducted at source from the tax free govt. security & _________________
a) Zero
coupon bond
b) Commercial securities
c) Treasury
bond
d) All
of the above
14)Which of the
following is admissible expense?
a) Bank
commission or charges for purchasing securities
b) Bank
commission or charges for collecting interest on zero coupon bond
c) Interest
on money borrowed to invest in T-bill
d) Interest on money borrowed to
invest in less tax
15)Which one of the
following increase the average rate of tax?
a) T-bill
b) Zero
coupon bond
c) Debenture
d) Less tax govt. security
16)Mr. Imran
receives an interest income for investing in T-bill of UK govt. & he is a
non-resident Bangladeshi. What will be the impact of his income?
Answer:
No impact
17)Which of the
following statement is false?
a) In case of cum interest transaction
seller will pay tax
b) In
case of cum interest transactions buyer will pay tax
c) In
case of bond washing transactions both buyer & seller can avoid tax
d) None
of the above
18)Which statement
is true?
a) TDS is applicable @ 10% interest on
less tax govt. securities
b) Interest
on saving certificate is included under the head of interest income
c) Allowable
expense will be applicable in case of tax free govt. securities
d) Tax
free govt. security will put an impact on average tax rate
19)The
chargeability of interest on securities is on receivable basis____ Is it true?
Answer:
20)Why grossing up
is not required for tax free govt. security?
a) Since
it is not included in computation of taxable income
b) Since
interest is received on net amount
c) Since
TDS is applicable here
d) Since interest is received on gross
amount
21)In case of cum
interest transactions___
a) The
seller will be assessed for the interest of the whole period
b) The
buyer will be assessed for the interest of the whole period
c) Both
the seller & the buyer will be assessed for the whole interest
d) None of the above
22)For which the
following grossing up is required?
a) Tax
free govt. security
b) Tax
free commercial security
c) Less tax govt. security
d) Debenture
23)Where a security
owner transfers the securities on the eve of due date of interest &
requires them, which of the following is true?
a) The
interest received by the transferee will be deemed as income of him
b) The
interest received by the transferee will be exempted from being income
c) The interest received by the
transferee will be deemed as income of the transferor
d) None
of the above
24)Mr. M is a
resident Bangladeshi. He obtains interest from USA T-bill in the current income
year. What will be the treatment of his income? ___________
Answer:
25)Amount of
interest income need to be grossed when interest received is____interest. From
____
a) Gross
, less tax govt. security
b) Net
, zero coupon bond
c) Net
, debenture
d) All
of the above
e) None of the above
26)Does tax free
govt. security put any impact on average rate of tax?
a) Yes
b) No
27)If any income
derived by a bank, insurance or any financial institution from a zero coupon
bond Will it be fully exempted?
a) Yes
b) No
28)Income from zero
coupon bond 5000 tk. What will be the amount of exemption?
a) 3000
b) 40000
c) 25000
d) None of the above
29)During an income
year, an assesse has received tk. 20000 after expiry of the maturity period of
2 year zero coupon bond acquisition price of which 18000.what will be the
amount of exemption?
a) 8000
b) 2000
c) 18000
d) None
of the above
30)Amount of tax
exemption for less tax govt. securities is_________
a) Full
b) Up
to tk. 5ooo
c) Nil
d) Up
to tk. 3000
31)Which one of the
following incomes of an assesse shall be classified & computed under the
head ‘Interest on securities?
a) Interest
receivable on any security of the govt.
b) Interest
on security approved by govt.
c) Interest
receivable on debentures or other securities issued by as on behalf of local
authority or company
d) All of the above
e) None
of the above
32)According to
section 22 of the ITO 1984 theoretically the chargeability of interest on
securities is on ______________
a) Receivable basis
b) Received
basis
c) Both
a & b
d) None
of the above
33)When securities
are sold any gain or losses from such disposal will be considered as____
a) Income
from interest on securities
b) Capital gain
c) Business
gain
34)Which one of the
following incomes will not be considered as interest income from securities?
a) Interest
received from bank deposit
b) Gain
on sale of securities
c) Interest
on saving certificates
d) All of the above
e) None
of the above
35)Securities are
mainly classified as ________
a)
Government
& industrial
b) Government & commercial
c)
Industrial
& commercial
d)
None
of the above
e)
All
of the above
36)Government
securities can be classified as___
a) Tax free & less tax
b) Debentures
& zero coupon bond
c) Tax
free & zero coupon bond
d) Less
tax & debentures
37)Which one is not
the example of govt. securities?
a) Treasury
bill
b) Promissory
note
c) National
bond
d) All
the above
e) None the above
38)In case of tax
free govt. securities ____________
a) No tax is paid
b) Partial
tax is paid
c) Full
tax is paid
d) None
of the above
39)What is the
current TDS rate?
a) 5%
b) 10%
c) 15%
d) 20%
40)Interest income
from approved debenture is __________
a) Tax
free
b) Fully taxable
c) Partially
taxable
41)Zero coupon bond
is also known as _________
a) Discount
bond
b) Deep
discount bond
c) Both c a & b
d) Taxable
bond
42)The formula for
grossing up of interest is _______
a) Net interest ×100/100-rate of TDS
b) Net
interest ×100/rate of TDS
c) Net
interest ×100/100+TDS
d) Net
interest ×rate of TDS/100
43)Allowable
expenses are deducted from interest on ______
a) Less
tax govt. securities
b) Approved
or unapproved commercial securities
c) Zero
coupon bond
d) a
+ b + c
e) a
+ b
44)Generally
interest on securities is given_______
Answer:
on a particular day at regular intervals
45)There is no tax
on _______
a) Disposal
of capital asset
b) Transfers
of securities
c) Transfer
of debenture
d) All the above
46)Section 106 has
given sufficient authority to handle the cases of tax avoidance to_______
a) NBR
b) Government
c) DCT
d) None
of the above
47)Interest on
securities is added with the total income for__________
a) Welfare
purpose
b) Business
purpose
c) Accounting
purpose
d) Taxation purpose
48)Seller will not pay
any tax for the interest in case of____
a) Cum
interest transaction
b) Ex-interest
transactions
c) Bond
washing transaction
d) a
+ b
e) a + c
49)Which one is
fully taxable?
a) Zero
coupon bond
b) Less
tax govt. securities
c) Unapproved
commercial securities
d) a
+ b
e) b + c
50)Mrs. Rose has
received interest on zero coupon bond tk. 7000. The gross interest is__________
a) 7000
b) 7778
c) 6300
d) None
51)Mr. moon has
bought a less tax govt. security of 500000 @ 15%. The gross interest is_____
a) 75000
b) 50000
c) 55555
d) None
52)Mr. Hrid
purchased an 8% Italian Treasury bill at a cost of tk. 30000000. Interest will
be________
a) 26667
b) 24000
c) 21600
d) None
53)Ms. Orpa is a
citizen of Dubai. But she lived in Bangladesh from 28th February
2008 to 26th May. She bought a 10% less tax govt. security of tk.
360000. So what will be the interest for income year 2007-2008?
a) 40000
b) 36000
c) 32000
d) None
54)Ms. Prionti is
the citizen of Bangladesh & U.S.A she bought a less tax govt. security of
tk. 10000 here at Bangladesh. What will be the amount of interest?
a) 9000
b) 11111
c) 1000
d) None
55)Mr. Moon has
transferred 10% approved commercial security of tk. 200000 to his friend Ms.
Rose on 25th June, 2011 & bought it back on 1st July,
2011 at tk. 205000. The DCT has not identified the matter of this bond washing.
So the interest in the computation of total income will be _______
a) 5000
b) 15000
c) 20000
d) Nil
56)If in the above
situation DCT identifies the bond washing what will be the amount of interest
then?
a)
5000
b)
15000
c) 20000
d)
Nil
57)Interest on 10%
less tax govt. security is tk. 3000. The bank has deducted tk. 100 as
collection fee. So the interest will be_____
Answer:
2700
58)Mr. Maniruzzaman
purchased 11% debenture of Dhaka bank Ltd. Of the face value of 300000 (the
acquisition price was 350000) on 31st January, 2012. In this regard
he sold 12% City bank Ltd. Debenture at tk. 290000 on the same day (face value
250000). Interest paid on 30th June each year. What will be cum
interest for him?
a) 27500
b) 33000
c) 60500
d) 5500
59)10% debentures
of Moonrose private Ltd. Of the face value of tk. 400000 were sold ex-interest
on 1st November 2011 (interest payable 31st December) tk.
1000000, 10% debenture of LDl Ltd. Was purchased ex-interest. The due date of
interest is October 31 & June 30. The interest will be____
Answer:
58333
60)In the above
situation if the rest amount is borrowed from SLOS bank Ltd. @ 10% interest.
Then the interest will be________
Answer:
23041
61)Tax exemption on
interest on securities is described in___
a) 6th schedule part A
b) 6th
schedule part B
c) 7th
schedule part A
d) 3rd
schedule part A
Chapter-8
62)Mr. X leased his
house for 4 years. Who will be assed & under what head?
a) Lessee,
under the head “income from house property.”
b) Lessor, under the head “income from
house property.”
c) Lessee,
under the head “Income from other sources”
d) Lessor,
under the head “Income from other sources”
63)Mr. A mortgaged
his property for600000, for 3 years. Who will be assessed
a) Mortgager
b) Mortgagee
64)Any advance
against rent will not be considered as the income from house property.
a) True
b)False
65)Income from
house property refers to-
a) Third head of section 20
b) Fourth
head of section 20
c) Fifth head of section 20
d) None
66)In case of
partnership firm, who will be the assesse of house property?
a) Co-owners
b) Partnership firm
c) Managing
director
d) A+B
67)Who will be the
assesse in case of benami house property?
a) Real purchaser
b) Owner
68)What will be considering
the annual value in house property?
a)
Actual
rental value
b)
Municipal
value
c) Higher of them
d)
Lower
of them
69)In case of long
term lease agreement who will pay the tax?
a) Lessee
b)
Lessor
70)What is the
formula for calculation of TDS?
a) TDS=rent received X (TDS rate/
100-rate of TDS)
b) TDS=rent
received X (TDS rate/ 1-rate of TDS)
c) TDS=rent
received +(TDS rate/ 100-rate of TDS)
d) None
71)Where the house property
is fully occupied by owner then what will be the annual value?
a)
Municipal
value
b)
Real
market value
c)
Higher
one
d) Not needed
72)Who will be the
owner of a house property in case of insolvency?
a) Evacuee
b) Custodian
73)Who will be the
owner when a house property is held under trust?
a) Trust
itself
b) Trustee
c) Nobody
74)House property
must consist of any-
a) Land
b) Building
c) Furniture,
factures
d) A+B
e) All
75)Which income
generated from house property is considered as taxable?
a) Let out
b) Purpose
of his business
c) For
own use
d) None
76)Which expenses
are deducted from gross rental received?
a) Admissible
expenses
b) Night
guard salary
c) Fire
insurance premium
d) A+C
77)Which of
following is considered as the income from house property?
a) Carriage
fees
b) Advanced against rent
c) City
corporation tax
d) Repair
& maintenance
78)In what
situations income from house property will not be taxable?
a) When
house is used for carrying on business
b) When
house is used for office/factory/go down.
c) A+B
d) None
of them
79)If X lets a
house to Y & Y sublets it to Z then what situation will arise?
a) Income of X will be taxable.
b) Income
of Y will be taxable.
c) Both
X & Y income will be taxable.
d) No
one income will be taxable.
80)Income from
other lands, that is, not appropriately untenanted to be building &
not occupied & enjoyed with them is
to be considered under the head of-
a) Income
from house rent.
b) Income
from house property
c) Income from other sources
d) None
of them
81)What is the time
limit of a five storied; housing at least ten facts will be considered as non-assessable
income under the head “income from house property”?
a) Jan
1,2009 to Jan 1 2014
b) July 1, 2009 to Jun30, 2014
c) Jan
1 to December31, 2015
d) July
1 2008 to December 31 2016
82)If the tenant
bears any owner’s expenses then what will happen?
a) Actual rental value will be
increased
b) Actual
rental value will be decreased
c) Actual
rental value will be the same
d) None
of them.
83)If the owners
bears any tenants expenses then what will be happen?
a) Actual
rental value will be increased
b) Actual rental value will be
decreased
c) Actual
rental value will be the same
d) Both
A+B
84)Based on the
rental status house property can be classified by how many head?
a)
2
b) 3
c)
4
d)
5
85)Which of the
followings is considered as admissible expanses?
a) Land
development tax
b) Insurance
premium
c) Both
d) None
of them.
86)Any interest,
payable borrowed capital not exceeding lac,
should be deducted from total income.
a) 20 lac
b) 30
lac
c) 40
lac
d) 50
lac
87)Which of the
following will not be considered as admissible expense?
a) Repair
& maintenance
b) City
corporation
c) Rent
collection expense
d) B+C
88)Following are
the example of admissible expenses under the head “ Income from house property”
except-
a) Loan
installment
b) Repair
& maintenance expenses
c) Uncollectible
rent
d) Municipal tax
89)When the house
property is used by son-in-law for free, amount of rental value is-
a) Municipal
value
b) Actual value
c) Both
A+B
d) None
of these
90)Vacancy
allowance for a portion of house is the amount equals to-
a) Monthly
rent multiplied by number of months the house remain vacant
b) Proportionate rental value for the
vacant month
c) Proportionate
municipal value for the vacant month
d) Proportionate
annual value for the vacant month
91)Interest on
borrowing during construction period is an admissible expense in the-
a) Year
when renew is generated from the house property
b) Subsequent
year only
c) Subsequent 3 years in equal amount
d) None
of the above
92)When owner of
property receive advance for tenant then what will be the allocation procedure?
a) Equal proposition to the year
receipt & next four years
b) Equal
proposition to the year receipt & next three years
c) Diminishing
proposition to the year receipt & next four
years
d) Diminishing
proposition to the year receipt & next three years
93)Income is the
result of gross rental received-
a) Less admissible expense
b) Add
admissible expense
c) Both
d) None
94)The term
building doesn’t include-
a) Edifice,
structure
b) Ship, vessel
c) Playground
d) Kitchen
garden
95)House property doesn’t
include-
a) Lands,
apartment to building
b) Backyard
, compound
c) Cattle
shed
d) None
96)The test of
ownership is required to be satisfied in-
a) The income year
b) The
assessment year
c) The
calendar year
d) a+b
97)When one gives
life interest in the house property to specific legatee, who will be the
assessable entity?
a) The
executor
b) Legatee
c) Both
proportionately
d) None
of them
98)If dispute
arises relating to the title of the property then who will pay tax?
a) He/She
who is getting interest from the property
b) He/she
who has the possession of the property
c) Assessment
proceeding can not be held up
d) Both a & c
99)If court goes
against the interim decision of the tax authority then tax authority will-
a) Follow
the court order in future
b) Not
overstated the tax rule
c) Rectify back years assessment
d) Do
nothing
100) In
case of short term lease agreement who wall be assessed?
a) Lessee
b) Lessor
c) Both
d) Nobody
101) In
case of building that has more than or equal five storied & ten flats
constructed in between July 1, 2009 and June 30, 2014 & is situated in
outside of city corporation. What will be the time limit of being non-assessed?
a) Ten years from the date of competition
of construction.
b) Ten
years from the date of beginning of construction.
c) Seven
years from the date of competition of construction.
d) Seven
years from the date of beginning of construction.
102) After
assessment made if it is found that the amount of tax deducted is in excess of the amount payable
then-
a) Tax
authority will refund the whole amount
b) Tax authority will refund the
excess amount
c) Tax
authority will not refund
d) None
of the above
103) B
has a house, whose monthly rental value is 15000 (2flats, each). Municipal
value of the house is 250000. What is the annual value of the house?
a) 250000
b) 130000
c) 180000
d) 360000
104) B
let out his house at a monthly rate of tk. 15000. Municipal value of the house
is tk 195000. The tenant will bear city corporation taxes relating to the house
property, which amounted tk. 7000. What will be the annual value of the house?
a) 195000
b) 180000
c) 187000
d) 264000
105) A’s
house’s monthly rent is 10000. Municipal value of the house is 100000. A pays
the electricity & gas bill of the tenant, which amounted tk. 1500 per
month. What will be the annual value?
a) 100000
b) 120000
c) 138000
d) 102000
106) A
has a 4 floored house. He let out 3 Flores at a rental value of 15000 each per
month. Municipal value of the house is 280000. What is the annual value?
a) 280000
b) 180000
c) 540000
d) 360000
107) A
is the owner of a house, which may earn a rent of 10000 per month if let out.
Municipal value of the house Is 130000. What is the annual value?
a) 130000
b) 140000
c) 10000
d) None
108) A
let out his house to a dental college. Monthly rental value of the house is
15000. What is the rate of TDS?
a) 3%
b) 5%
c) 10%
d) none
109) If
in the above use monthly rent is 35000. What is the amount of TDS?
a)
35000
b)
420000
c)
385000
d)
None
110) A
has rented his house to a University, at a rental value of 45000. Municipal
value of the house is 520000. What is the annual value?
a) 540000
b) 520000
c) 513000
111) In
the above case what will be the amount of TDS?
a) 1368
b) 2368
c) 3332
d) None
112) What
is the rate of admissible limit of repair & maintenance expenditure in case
of the property let out for residential purpose?
a) 20%
b) 25%
c) 30%
d) 35%
113) In
case of property let out for commercial purpose?
a) 20%
b) 25%
c) 30%
d) 35%
114) A
let out his house for residential purpose. Monthly rent of the house is 10000.
Actual spending for repair & maintenance is 25000. What amount will be
considered as admissible expense?
a) 25000
b) 30000
c) 35000
d) 40000
115) What
will be the TDS when the monthly payment to owner is less than tk.20000?
a) Nil
b) 3
%
c) 5%
d) None
116) What
will be the TDS when the monthly payment to owner is 20000 to 40000?
a) Nil
b) 3%
c) 5%
d) None
117) What
will be the TDS when the monthly payment to owner exceeds tk. 40000?
a)
Nil
b)
3%
c) 5%
d) None
118) When
repair expense 50000, city corporation tax 22000, Insurance premium 16000,
caretaker & night guard salary 24000 then what is the amount of total
admissible expense.
a) 72000
b) 88000
c) 112000
d) 90000
119) If
repair & maintenance expense is 24000 & actual rental value is
300000(assume that property is let out for commercial purpose), than what will
be the amount of admissible expense?
a) 24000
b) 90000
c) 66000
d) None
120) If
A has 3 house one house is fully let out 200000. Another house was half let out
400000 & the other was accepted by the owner 250000. Which amount will be
considered as taxable?
a) 300000
b) 400000
c) 600000
d) 650000
Chapter-9
121) How
many of heads does the income calculation include?
a) 7
b) 8
c) 9
d) None
122) When
agricultural income was brought into the tax net?
a) 1984
b) 1974
c) 1976
d) 1978
123) Agriculture
refers to ___________
a) Growing
of plants
b) Growing
of animals
c) Field
cultivation
d) All of the above
124) Agriculture
income can be defined on the basis of
a) Basic
operation
b) Subsequent
operation
c) Business
operation
d) a + b
125) Which
of the following is a subsequent operation?
a) Tilling
of land
b) Sowing
of seeds
c) Planting
d) Weeding
126) Mr. X gives his land to Y for cultivating for
1 year. For this he receives monthly 2000 tk.
Will it be agriculture income?
Answer: Yes
127) Mr.
Z has a house near to that land consisting of two rooms. One room is used for
personal purpose & another is used as the
store-house regarding the land. Will the income
from store house be computed as agriculture
income?
Answer: Yes
128) Mr.
A grows Mashrum on the roof of his house. Is it an agriculture income?
Answer: No
129) Mr.
sharif had a tractor of tk. 50000. He sold it for 52000. The accumulated
depreciation of that tractor was 28000. What will be the agriculture income
here?
a) 18000
b) 28000
c) 30000
d) 2000
130) In
the above situation what will be the capital gain?
a) 2000
b) 22000
c) 28000
d) None
of the above.
131) Mr.
Tahsin had a pump machine which was purchased for tk. 30000. Due to an
accident, the machine was destroyed & the insurance company has given
compensation of tk. 20000. At the time of destruction the amount of the
accumulated depreciation was 15000 & the scrap value is tk. 1000. What will
be the agriculture income?
Answer: 6000
132) Income from sale of tea is a business
income----- is this statement true?
Answer: Partially true
133) How
much of the sale proceeds from the sale of tea will be considered as
agriculture income?
a) 50%
b) 40%
c) 60%
d) 30%
134) Mrs.
Shopna gets vegetables grown naturally in her yard. Sometimes she sale those to the market.
Is it an agriculture income?
Answer: No
135) Mr.
Rahman is a resident assesse of Bangladesh. He has a land in which he
cultivates paddy. He has another land
in Calcutta where he cultivates fruits. Income from the land at Bangladesh will
be treated as__
Answer: Agriculture income
136) In
the above situation income from the land at Calcutta will be treated as_______
Answer: Foreign income
137) Agriculture
income can be classified into____
a) 2
categories
b) 3 categories
c) 4
categories
d) 5
categories
138) Mr.
Selim has a land where he produces sugarcane. Further he manufactures the
sugarcane & turns those into sugar. His total income is 100000. What will
be his agriculture income?
a) 50000
b) 30000
c) 40000
d) None of the above
139) In
the above situation what will be his business income?
a) 50000
b) 60000
c) 40000
d) None
of the above
140) If
in the above situation Mr. Selim after production sale the sugarcane to Mr.
Akbar for further manufacturing for tk.
50000 what would be Mr. Selim’s agriculture income?
Answer: There will be no
treatment
141) Is
there any scope of allowance in case of agriculture income?
Answer: Yes
142) Income
from dairy farm will be considered as agriculture income if_________
a) Assesse
is the owner of the cattle
b) Cattle
are reared in cattle rearing field
c) Milk
is processed by the assesse
d) All of the above
143) Which
one is false?
a) Income
from sale of tea is a partly agriculture income
b) Agriculture
includes arboriculture
c) Income from salt production is an
agricultural income
d) None
of the above
144) Which
one is true in case of calculating agriculture income when there is a gain from
the sale of plant or machinery used for agricultural purpose?
a) Gain
cannot be more than the difference between original cost & written down
value
b) Capital
gain= sale proceeds-cost price
c) Agriculture
income= Total gain- capital gain
d) All of the above
145) Mr.
Jashim cuts & sells timber on contract. Is his income is agriculture income?
Answer: No
146) Identify
the non-agriculture income from the following___
a)
Cultivation
of flower
b)
Cultivation
of fruits
c)
Income
from sale of honey
d) Income from fish hunting
147) Mr.
Salahuddin claimed that he incurred production cost for maintaining
agricultural implements & machinery tk. 30000. But he does not maintain the
books of accounts. He earned 45000 from the sale. What will be his actual
production cost in this situation?
Answer: 27000
148) Mr.
Jahangir sales rice of tk. 50000, Robi crops of tk 40000, share from Barga
20000. He has incurred production cost of tk. 20000 for rice, tk. 10000 for
robi crop, 7 tk. 2000 for barga. What will be his total agriculture income?
a) 60000
b) 40000
c) 80000
d) 20000
149) In
the above situation if he fails to maintain proper books of account for robi crops relating expense
what will be his total agriculture income?
a) 80000
b) 50000
c) 60000
d) 66000
150) Which
schedule provides the rates of depreciation/
a) 2nd
schedule
b) 3rd schedule
c) 1st
schedule
d) None
of the above
151) What
is depreciation rate for power pumping machinery?
a) 10%
b) 15%
c) 20%
d) 25%
152) What
is the depreciation rate of kutcha & pucca building?
a) 10%
b) 12%
c) 15%
d) 20%
153) Total
gross agricultural income - admissible expense=?
Answer: Net agricultural income
154) Can
net loss be set off against capital gain?
Answer: No
155) In
2001 Mr. Hikma incurred a net loss regarding agricultural Income. He carried forward
the loss to set off. Up to which year he can do so?
Answer: 2007
156) In
income year 2010-2011 the total income of a 70 years old man in Kustia,
Bangladesh named Mr. Muhammad Ali was 400000 & his only source of income is
agriculture. What will be his taxable income in the assessment year 2011-2012?
a) Tk.
350000
b) Tk.
300000
c) Tk.
170000
d) Tk. 150000
157) In
the income year 2010-2011 the total income of Mr. Anik was tk. 300000.He earned
Tk. 200000 from agriculture & 100000 from other sources. What will be his
taxable income?
a) Tk.
150000
b) Tk.
200000
c) Tk.
300000
d) None of the above
158) Mr.
Zaman is a disable person. His only source of income is agriculture. In the
income year 2010-2011 his total income was tk. 300000. What will be his taxable
income?
a) 300000
b) 200000
c) 150000
d) None of the above
159) Mr.
Babu is an indigenous Hillman of Khagrachari who is totally dependent on
agriculture income. In the income year 2010-2011 his total income was tk.
400000 of which tk. 100000 was from the agricultural activities in his hometown
& the remaining was from the agricultural activities at Sylhet. What is his
taxable income?
a) Tk.
300000
b) Tk.
400000
c) Tk.
250000
d) Tk. 70000
160) Mr.
Akbar has a poultry farm. He started this farm on 1st July 2011. In
the income year 2011-2012 his income was 300000. At January 2013 he invested
tk. 30000 in govt. bond. What will be his taxable income for the income year
2011-2012?
a) Tk.
250000
b) Tk.
0
c) Tk. 300000
d) None
of the above
161) What
is reduced tax rate for fisheries?
a) 10%
b) 5%
c) 15%
d)
There is no reduced tax
162) Is
production cost allowable for partly agricultural income?
Answer: No
163) Agricultural
income is the __________ head among the seven heads of the income.
Answer:
Fourth
164) Mr.
Jamil produces nuts. At beginning it can be sold out by only Tk. 20 per kg. But
if he incurs further process he can sell nuts @ tk. 30 per kg. To make it
saleable, @ tk.40 per kg. He needs to incur 5 tk. Processing cost per unit. So
his gain is 5 tk. for every unit. In the income year 2010-2011 he sold 30 kg
nuts. Will it be included in his agricultural income?
Answer:
Yes
165) Which
one is not an admissible expense?
a) Local
tax
b) Depreciation
c) Interest
on mortgage
d) Losses
on exchange of machineries
e)
None
of the above
166)
Maximum limit of losses from the
sale of demolished machineries when there is no insurance or
compensation money has been received_____
a)
Written
down value ─ Scrap value
b) Written
down value ─ insurance amount
c) Written
down value ─ scrap value ─ amount of insurance or compensation money
d) None
of the above
167)
Mr. Mukul is a fisherman. He
catches fishes from ferry ghat. He also has a land. In which he
grows
vegetables. He sells the both at Kawran Bazar. Will his income include both the
activity as
agriculture income?
Answer: No. Only the second one will be
included
168)
Mr. Ajmal buys vegetables from
various farmers. Then he sells those to the market. He claims that his income
is agricultural income. Whether his claim is appropriate or not?
Answer:
It is not acceptable.
169)
Mr. Mortaza has a 1 storied building
near a land. The cultivator of that land requires a store house. Mr. Mortaza
gives that building on rent to the cultivator.
Whose income is agricultural income?
a) Mr.
Mortaza’s
b) The
cultivator’s
c)
Both
d) None
170)
Which of the following is true?
a)
Production
of goods through growing of plant & animals is agriculture
b) Total
gain from sale of agricultural assets is an agricultural income
c) Income
from cattle rearing is a non-agricultural income
d) All
of the above
171)
Mrs. Amina has a dairy farm of her
own. The cattle are bought by her. The cattle rear in cattle rearing field. She
processes the milk & then sells that to Mr. Karim, who takes the milk &
milkmaid products to a co-operative society that ultimately sells that to the
market. In this regard which of the following is true?
a)
The
income of all the three parties are
agricultural income
b) The
income of Mrs. Amina is agricultural income
c) The
income of Mr. Karim is agricultural income
d) The
income of the co-operative society is agricultural income
172)
Shahadat & co. has various
income sources. It has a mango garden. It sells those by some agents throughout
the country. The agent gets remuneration at a fixed percentage of net profit.
Will the agent’s income be treated as agricultural income?
Answer: No
All credit goes to Antu Team.
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