1. What is the short title of the Act?
(A) Punjab Revenue Act 2012
(B) Punjab Services Tax Act 2011
(C) Punjab Taxation Act 2012
(D) Punjab Sales Tax on Services Act 2012
2. What is the Act number of the Punjab Sales Tax on Services Act 2012?
(A) XLI of 2011
(B) XLIII of 2012
(C) XLII of 2012
(D) XLIV of 2013
3. On which date was the Act enacted?
(A) 21st June 2012
(B) 27th June 2012
(C) 26th June 2012
(D) 30th June 2012
4. The Act provides for the levy of tax on which of the following?
(A) Goods only
(B) Imports only
(C) Agricultural products
(D) Services
5. The tax under this Act applies to services provided in which province?
(A) Punjab
(B) Sindh
(C) Khyber Pakhtunkhwa
(D) Balochistan
6. Which chapter of the Act deals with preliminary matters?
(A) Chapter II
(B) Chapter III
(C) Chapter I
(D) Chapter IV
7. The Act extends to the whole of which area?
(A) Pakistan
(B) Islamabad
(C) Punjab
(D) Federal Territory
8. The Act shall come into force from a date specified by whom?
(A) President
(B) Chief Minister
(C) Government
(D) Supreme Court
9. The Government specifies the commencement date through which medium?
(A) Newspaper advertisement
(B) Official Gazette notification
(C) Court order
(D) Television announcement
10. Under subsection (4), the Government may specify different dates for collection of tax on:
(A) Goods only
(B) Agricultural income
(C) Salaries only
(D) Services or classes of services
11. An “active taxpayer” means a registered person whose registration has not been:
(A) Verified
(B) Renewed
(C) Suspended or blacklisted
(D) Approved
12. An active taxpayer must have filed tax return for at least:
(A) Five tax periods
(B) Two years continuously
(C) One of the preceding three consecutive tax periods
(D) One annual return only
13. “Additional Commissioner” means a person appointed as Additional Commissioner of the:
(A) Federal Board of Revenue
(B) Authority
(C) Supreme Court
(D) Finance Division
14. “Appellate Tribunal” is established under which Act?
(A) Punjab Sales Tax Act 1990
(B) Income Tax Ordinance 2001
(C) Customs Act 1969
(D) Punjab Revenue Authority Act 2012
15. “Arrears” means tax due and payable but which has not yet been:
(A) Calculated
(B) Paid
(C) Filed
(D) Assessed
16. “Assistant Commissioner” means a person appointed as Assistant Commissioner of the:
(A) Government
(B) Court
(C) Authority
(D) Assembly
17. Associates refer to two persons where one may act according to the intentions of the:
(A) Public
(B) Auditor
(C) Government only
(D) Other person
18. Two persons shall not be associates solely because:
(A) They are relatives
(B) They are directors
(C) They own shares
(D) One is employee of the other
19. Which of the following persons shall always be treated as associates?
(A) Neighbors
(B) An individual and a relative of that individual
(C) Friends
(D) Tenants
20. Members of an association of persons are treated as:
(A) Associates
(B) Shareholders
(C) Directors
(D) Auditors
21. A member and an association are associates when the member controls at least how much rights to income or capital?
(A) 50%
(B) 40%
(C) 25%
(D) 75%
22. A shareholder and a company are associates when the shareholder controls at least how much voting power?
(A) 20%
(B) 30%
(C) 40%
(D) 50%
23. A shareholder may control a company directly or through:
(A) Bank officers
(B) Interposed persons
(C) Auditors
(D) Employees only
24. Associates include shareholders having rights to:
(A) Dividends
(B) Salaries
(C) Wages
(D) Bonuses only
25. Two companies are associates where a person controls fifty percent or more of the rights to:
(A) Capital
(B) Inventory
(C) Rent
(D) Production
26. Under paragraph (c), persons shall not be associates if the Commissioner is satisfied that they do not act according to each other’s:
(A) Advice
(B) Requests
(C) Intentions
(D) Orders
27. The expression “relative” includes:
(A) Neighbor
(B) Friend
(C) Ancestor
(D) Tenant
28. “Relative” also includes a descendant of any of the:
(A) Parents
(B) Uncles
(C) Cousins
(D) Grandparents
29. An adopted child of the individual is included in the definition of:
(A) Employee
(B) Shareholder
(C) Associate company
(D) Relative
30. The spouse of an individual is included in the definition of:
(A) Director
(B) Relative
(C) Partner
(D) Contractor
31. “Association of persons” includes a:
(A) Province
(B) Firm
(C) Ministry
(D) Court
32. “Association of persons” does not include a:
(A) Firm
(B) Body of persons
(C) Juridical person
(D) Company
33. “Authority” means the Punjab Revenue Authority established under:
(A) Finance Act 2020
(B) Customs Act 1969
(C) Companies Act 2017
(D) Punjab Revenue Authority Act 2012
34. A banking company is defined under which Ordinance?
(A) Banking Companies Ordinance 1962
(B) Companies Ordinance 1984
(C) Customs Ordinance 2001
(D) Income Tax Ordinance 2001
35. A banking company includes any body corporate transacting the business of banking in:
(A) Sindh
(B) Pakistan
(C) Islamabad
(D) Punjab
36. “Commissioner” means a person appointed as Commissioner of the:
(A) Assembly
(B) Court
(C) Authority
(D) Cabinet
37. “Commissioner (Appeals)” means a person appointed as Commissioner (Appeals) of the:
(A) Authority
(B) Police Department
(C) Federal Cabinet
(D) State Bank
38. “Commission” includes consideration received directly or indirectly for services rendered in the course of:
(A) Agriculture
(B) Manufacturing only
(C) Teaching only
(D) Buying or selling goods or services
39. Commission does not include:
(A) Professional services
(B) Buying services
(C) Selling goods
(D) Asset transactions
40. Commission may be received in:
(A) Cash only
(B) Foreign currency only
(C) Any form
(D) Gold only
41. A commission agent acts on behalf of another person for:
(A) Charity
(B) Consideration
(C) Donation
(D) Penalty
42. A commission agent may act for the sale or purchase of:
(A) Goods
(B) Goods or services
(C) Services
(D) Shares only
43. The Act was passed by the Punjab Assembly on:
(A) 20 June 2012
(B) 21 June 2012
(C) 26 June 2012
(D) 27 June 2012
44. The Act was assented to by the Governor of Punjab on:
(A) 21 June 2012
(B) 26 June 2012
(C) 25 June 2012
(D) 27 June 2012
45. The Act was published in the Punjab Gazette on:
(A) 27 June 2012
(B) 26 June 2012
(C) 21 June 2012
(D) 30 June 2012
46. The Punjab Gazette publication was:
(A) Annual
(B) Weekly
(C) Extraordinary
(D) Monthly
47. The provisions relating to active taxpayer were added through:
(A) Finance Act 2018
(B) Punjab Finance Act 2021
(C) Punjab Finance Act 2020
(D) Finance Act 2019
48. The Punjab Finance Act 2021 is numbered as:
(A) XIX of 2021
(B) XVIII of 2021
(C) XX of 2021
(D) XXI of 2021
49. The Authority referred to in the Act is:
(A) Punjab Revenue Authority
(B) Punjab Police
(C) State Bank
(D) Election Commission
50. Tax under the Act is levied on services that are:
(A) Imported only
(B) Manufactured only
(C) Executed or consumed in Punjab
(D) Exported only
51. The preamble states that the Act also deals with:
(A) Criminal matters
(B) Constitutional matters
(C) Defense matters
(D) Ancillary matters
52. The Act mainly concerns sales tax on:
(A) Property
(B) Agriculture
(C) Imports
(D) Services
53. An active taxpayer must be a:
(A) Government employee
(B) Lawyer
(C) Banker
(D) Registered person
54. Blacklisting of registration is done by the:
(A) Court
(B) Parliament
(C) Authority
(D) Police
55. “Arrears” relate to tax due before:
(A) Audit period
(B) Next year
(C) That day
(D) Assessment only
56. A company and shareholder are associates if there are rights to:
(A) Dividends
(B) Salary
(C) Pension
(D) Wages
57. The expression “relative” includes spouse of the individual or of any person specified in:
(A) Clause (ii)
(B) Clause (i)
(C) Clause (iii)
(D) Clause (iv)
58. “Association of persons” includes bodies formed under:
(A) Local customs
(B) Provincial law only
(C) Foreign law
(D) Religious law
59. Banking business in Punjab may be transacted by a:
(A) Partnership only
(B) School
(C) Trust only
(D) Body corporate
60. Commission includes consideration relating to any transaction involving a valuable article or:
(A) Land only
(B) Vehicle only
(C) Currency only
(D) Thing