introduction and key concepts Flashcards
1
Q
what is tax?
A
tax
means any tax imposed under chapter 2 (charge of tax),and
Includes any penalty ,fee or other charge or any amount leviable or payable under ITO 2001
2
Q
what is income?
A
Income includes
Any amount chargeable to tax under ITO 2001
Any amount subject to collection or deduction of tax under the provision of ITO 2001
Any amount treated as income under ITO 2001 and
Any loss of income
3
Q
what is association of person?
A
book pg 20
4
Q
what is public company and private company?
A
book pg 21
5
Q
what is small company?
A
book pg 22
6
Q
define small and medium enterprise
A
book pg 22
7
Q
what is the procedure for change in tax year?
A
book pg 25
8
Q
notice of discontinued business
A
book pg 26
