In Autumn 2006 Semester Allama Iqbal Open University was taken BA final Exams through various types of papers on different subjects, BA Paper code 456 Business Taxation was one of them. Paper time was three hours and out of hundred marks students were required to get at least forty marks to pass this paper.
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Important Topics of the subject:
Alongside attending tutorial meetings in aiou designated study centers and solving two assignments and reading course books will imporve your knowlege moreover there are many important topics that should be study to get best result like What is business taxation? Income Tax Ordinance, 2001 and distinction capital and revenue expenditure, Agricultural Income, Tax Year, Speculation Business, Royalties, charge and collection of Zakat and Ushr under Zakat and Ushr Ordinance, 1980 according to law, stages of assessment cycle and legal provisions regarding amendments in assessment? penalties or prosecution in case of Prosecution for Obstructing a Taxation Officer or Penalty for Non-Payment of Tax, Failure to submit Statements or Penalty for Concealment of Income etc? calculation of taxable income and tax payable from different sources of income of one business like Basic Salary and Conveyance allowance per month, Bonus for the year, Reimbursement of medical expenses, Accommodation allowance, Donations, Pension deduction, Shares, Expenses on children education etc? set off and carry forward of losses for a taxpayer? exemption of the following items under Income Tax (amendment) Ordinance, 2001 on income of Government, Educational Institutes and trusts as well as on pensions? Sales Tax (amendment) Act 1990, important legal provisions in business taxation etc.
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