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::: vuaskari.com ::: FIN622 MIDTERM DATA

CURRENT  PAPERS
Total Question was 32

28 MCQ

And 4 Subjective

2 for 3 Num
And 2 for 5 Num
And the Subjective question was these…..

1)What is Individual resident status explain its different points?
2)If Mr. Kamal resident of Pakistan suffered a foreign loss against the income
received from foreign country in tax year. What is the treatment of such
foreign loss? Which section deals this kind of loss? Such losses can be
carried forward up to how many years?
3)What is association of person and how profit will be distributed among partners?
4)Profit on debt earned by a non-resident person is exempt from tax under clause (77) of Part I of the second schedule. Is this exemption only available to "Individuals" as reference has been made to persons being citizens of Pakistan or otherwise? Provide the details of this clause.
what is capital rationing? and discuss its basic factors. (5)
higher rate of interest effect the capital rationing. briefly discuss. (3)



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