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Question: What is meant by T/A and D/A?
Answer: T/A stands for traveling allowance and D/A stands for daily allowance.

Question: What is Statutory Body plz explain me with example.
Answer: Statutory body is set up a result of an Act of Parliament to carry out given functions. In the Organizational structure of Income Tax Department in Pakistan Central Board of Revenue (CBR) is the apex body in the federal revenue administration structure. The CBR is a statutory body constituted by the CBR Act, 1924. It is a purely administrative body, which by assignment of law exercises the powers of administration, supervision and control in the area of federal taxation.

Question: What is tax rebate for teachers and the researchers?
Answer: Full time teacher or researcher employed in non profit education or research institution including government training and research institution duly recognized by HEC, a Board of education or a University recognized by HEC allowed tax rebate of 75%.

Question: Explain the scope of income.
Answer: The Term Income Includes: •Any amount chargeable to tax under this ordinance •Any amount subject to deduction and collection under various sections of this ordinance. •Any loss of Income.

Question: What is meant by Perquisites?
Answer: Perquisites include the various benefits availed by the employee other than the amount of salary and allowance received in cash.

Question: What is meant by MTS?
Answer: This is the starting point or minimum amount which is available to an employee under a time scale for example if time scale is:-- RS 20,000--2000—30000 Here Rs 20,000 is the Minimum of time scale

Question: What are the deductible allowances give examples?
Answer: The person shall be entitled to a deductible allowance for any Zakat paid by the person in a tax year according to provisions of sec:60, for the amount of any Workers’ Welfare Fund paid by the person in a tax year under Sec 60-A, for the amount of any Workers’ Participation Fund paid by the person in a tax year under section 60-B

Question: What is VAT?
Answer: Value added tax (VAT) This type of tax is levied at each stage of value addition. For example sales tax.

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