Tax Practices

Note :- All adjustments marked red are Super Important. Make Sure each adjustment discussed on the document must be cleared to you.
Note: Selective Study is never is never recommended these topics/adjustments are based on the new
additions and exam trends.

Topic Important Areas Past Papers Reference

Basics of Complete Chapter
But more focus on these areas:-
Income Tax Residential Status of Individual, Change in Tax year, Rules and
Autumn-17 Q#2
Spring-21 Q#1 b
Example of FTR, Returning Expatriates
Spring-22 Q#2a
(Definitions of Public Co, Charitable Purpose, IT services,
Spring-19 Q#2
Accumulated Profits, fee for Technical Services, turnover), Women
Autumn-22 Q#4
Enterprises, Features of MTR, Examples of FTR,
Read once (Cessation of Income, FMV, Recoupment)
Salary Complete Head of Income (Revise through Summary Sheet) Autumn-14 Question 1 (Adjust # b)
But more focus on these areas:- Spring-15 Question 3
Fixed Allowance for official use, Loan from Employer (Exceptions Autumn-15 Question 1 (Adjust # 1)
super important, use of loan in other head), Medical allowance with Autumn-16 Question 1 (Adjust # 3,4)
facility, Vehicle Provided with time factor, Provident Fund, Autumn-17 Question 1 (Adjust # 4)
Unapproved gratuity with exceptions and taxation at separate rates, Autumn-18 Question 1 (Adjust # 2 and 1(ESS))
ESS (Cases with Disposal),Exception of Pension Salary earned outside Autumn-20 Question 1 (Adjust # 1 & 2)
Pakistan, Certain perquisites with marginal cost, accrual basis and Autumn-21 Question 1 (Adjust # 1 & 5)
tax borne by employer & self hiring), Foreign Source Salary, Full Time Autumn-22 Question 2 (Adjust # 2,3,5)
Teacher Allowance (Imp) Spring-23 Question 1 (Adjust # 1,3,4)
Autumn-23 Question 1 (Adjust # 2,4,5,6 & 7)
Property Complete Head of Income (Revise through Summary Sheet)
Autumn-16 Question 4
But more focus on these areas:-
Autumn-20 Question 4
Rent vs market value, Un-adjustable amount with tenant switching,
Autumn-19 Question 2
repairs against building, Open plot treatment, Rules to claim unpaid
Autumn-21 Question 1 (Adjust # ii)
rent, Collection and Unpaid Charges, time barred liability, Self-Hiring,
Assignment Question Miss Muteeba
agriculture Income, Joint owner), Allocation of expenses between plot
Autumn-22 Question 3 b
and constructed property. Open Plot un-adjustable Advance and
Autumn-23 Question 3 e
Repairs
 Tax Practices
Note :- All adjustments marked red are Super Important. Make Sure each adjustment discussed on the document must be cleared to you.
Capital Gains Complete Head of Income (Revise through Summary Sheet) Autumn-20 Question 2(Important be ready for
But more Focus on these areas:
[Super Disposal of Property, Gain on Securities & Wash Sale, cross Trade,
that type)
Important] Spring-20 Question 4
determination of company status for capital gains, ESS + Capital
Autumn-18 Question 5
Gain. Non-recognition rules, Derivative Products, Bonus Shares,
Autumn-22 Question 3
Exemption & Taxation at Reduced rate (V.Imp), Deemed Income
Autumn-22 Q#3 a
(V. Imp), Taxation of Securities at various rates,
Other Source Complete Head of Income (Revise through Summary Sheet)
But more Focus on these areas:
Autumn-20 Question 4
Vacating of property, leasing out building with machinery (With
Autumn-19 Question 2
expenses and depreciation treatment), amount received in cash as
Autumn-22 Question 3 b
loan, Dividend (Case scenarios), Profit on Debt (Scenarios for
Autumn-23 Question 3 e
FTR & NTR), P.O.D on NSDC (Super Important), P.O.D (Exemption
Cases)
Rebates & All allowances & Rebates (Go for summary sheet)
More focus on these areas: -
Allowances Deducible allowance (Zakat (From Div & Profit on debt),
Donation (V.Imp)
Foreign tax credit (Separate Question Expected)
Educational Allowance limits, (Sequence of Allowances)
Reversal of credit is important for numerical)
Rebates: foreign tax credit, Donation, tax credit on POS, (Sequence
of Rebates)
Section 65F Conditions, Section 65-G (Greenfield Industry),
Chapter 3 Fundamental Principles, canons of taxation, Tax avoidance and Tax [Read the All-Past Paper with Solutions and try to
Evasion and Code of ethics (Read Complete Chapter), Tax for write in your Own Words]
(Ethics) Administrator
Chapter 2 FCF composition, ABS, Expenses Upon FCF, NFC, FLL (Use Class [Read the All-Past Paper with Solutions and try to
Notes) write in your Own Words]
(Constitution)
Chapter 1 Non-revenue objectives, types of taxes, kind of taxes and principles [Read the All-Past Paper with Solutions and try to
of Levy of Taxes write in your Own Words]
(System of
Tax)
 Tax Practices
Note :- All adjustments marked red are Super Important. Make Sure each adjustment discussed on the document must be cleared to you.

Topic Important Areas Past Papers Reference

Business Complete head of Income-
More focus on these areas: -
Exception of Speculation Business
Sec-20 (Animal used otherwise Stock in trade)
Sec-21 (Complete, focus on expenses incurred in cash, entertainment
expenditure, sales to unregistered person, penalties, Payment to Fund
in excess of limits, Salary Paid in Cash, Payment without Holding tax
(all scenarios), Disallow of Expenses on failure of POS Integration,
Commission paid to Unregistered persons)
Business Numerical: -
Autumn-23 Q#4 (Adj # (i), (iii) & (iv))
Spring-23 Q#3 (Adj # (i), (ii), (iv))
Autumn-22 Q#1 (Complete Question)
Spring-22 Q#3 (Adj # (ii), (iii), (iv))
Spring-18 Q#1 (Adj # (ii), (iii) & (iv))
Autumn-21 Question 4 (Complete Question)
Spring-21 Q#3 (Adj #(i), (ii) & (iv))
Autumn-22 Q#1 (Adj # (ii), (iv) & (v))
Spring-20 Q#4 (Adj # (i), (iv) & (v))

Acquisition and disposal of assets (Super Important all Business Theoretical Questions: -
scenarios) Spring-22 Q#2
Acquisition of asset after maturity of lease agreements (Super Imp) Autumn-21 Q#3 (a) (ii)
Restricted cost of vehicle, Sec-26 & Sec-2, (Pg107 ST Section 1.3) Spring-21 Q#2 (b)
Apportionment of fair value on composite disposal, Spring-20 Q#3 (a)
Autumn-19 Q#5
Eligible depreciable assets, Foreign Exchange effect on tax WDV. Spring-19 Q#3 (a)
Autumn-18 Q#3
Recovery of bad debts (V.Imp), Stock costing method. Autumn-17 Q#3 (c), (d) & Q#5
Disposal of assets when applied for personal use, Section-75A,

Unabsorbed Depreciation (Super Imp)

AOP Share from AOP, Taxation in the hands of members, Autumn-21 Q#5
Distribution of profit to members, and In-admissibility of member Autumn-20 Q#2
salaries etc, Change in Constitution of Firm, Succession of Business Spring-19 Q#1
Spring-20 Q#2
Losses Carry Forward of Losses all rules, Speculation Loss, Loss in Securities, Autumn-21 Q#2 (b)
Foreign Losses (Read it Through Losses Summary) Autumn-20 Q# 4 (b)
 Tax Practices
Note :- All adjustments marked red are Super Important. Make Sure each adjustment discussed on the document must be cleared to you.
Autumn-16 Q#8
Autumn-23 Q#4 (Adj # (i), (iii) & (iv))
Other Areas Turnover Definitions,, Usage of Agriculture produce, Legal
representative Average rate of Pakistani Income (Explanation),
Succession to business otherwise on death, Section-90, Income
Splitting(Sec-89), Section-91, Section-49 (Read it once), Section-46,
Section-41 & Rule-11
Return & Person Liable to file return, Person not liable to fill return, return
Records less than 12 months, Invalid return, Condition to revise return,
discontinue of business and Extension, Wealth Statement and [Read the All-Past Paper with Solutions and try to
reconciliation (Numerical Question, Legal Implication for not write in your Own Words]
declaring a bank account, Business Bank Account, Foreign
Income Statement [Use Class Notes for Concise Revision]
Assessment Best Judgement Assessment, Provisional Assessment, amendment or
further amendment time limits, composition of audit panel, records
(Read Common one), Concealment, Assessment of disputed [Read the All-Past Paper with Solutions and try to
property, Assessment in case of incomplete return, Adjustments to write in your Own Words]
be made in declared amount, Make a chart of Common Accounts
and Remember them, NADRA, [Use Class Slides for Revision]
Appeals Appeals to Commissioner, Tribunal Composition, ADRC composition
[Read the All-Past Paper with Solutions and try to
(Use Class notes for Concise Revision), Circumstances giving raise
write in your Own Words]
to appeal
 Tax Practices
Note :- All adjustments marked red are Super Important. Make Sure each adjustment discussed on the document must be cleared to you.
Topic Important Areas Past Papers Reference
Sales Tax Read the Sales Tax Last Hour Summary Complete and focus on Read at least all theoretical past papers of Sales
Theory following areas: - tax, (Don’t take any risk)
Cottage Industry, Payment through banking channel, Invoice to
Unregistered person over 100k Rs, Sales to Unregistered person over Spring-19 Q#6
Rs. 10m per month, Value of Supply with all cases, Time of Autumn-19 Q#6
Supply(Partly Payment), Exception of further tax, Tax invoice, Tax Autumn-20 Q#5
Fraud, difference between exempt and zero rating, Drawing of Spring-21 Q#7
Sample, Recovery of tax without notice, Special Returns, Penalty Autumn-21 Q#8
during and after show cause notice, Extension for filing Sales Tax Spring-22 Q#5 (a)
Return, Section 8B, Section 73, Rule 21, Restriction on Input tax Spring-22 Q#6
Supplied to Unregistered Person, Time Period for Suspension and Autumn-22 Q#6
blacklisting, Transfer of registration, Conditions for temporary Spring 23 Q# 6
registration, Capacity tax , Records and time period to maintain Autumn-23 Q#6
record, Revision of Return, De-registration, Application for
Registration, Provisional Adjustment & Final Adjustment
Sales Tax 5th Schedule, 6th Schedule, 3rd Schedule, Apportionment of input tax, Solve at least following adjustments only on your
Numerical Input tax on fixed assets (V.imp) calculation of sales tax refund on notebook before getting done
zero rated, Transaction between Associates, Time barred Input Tax, Samaaj Associates (Adj # ii, iii, iv, vi)
180 Days rule, Import and Subsequent Sale of specific goods Cyma Associates (Adj # i, ii, iii, iv, v and vii)
(S.Imp), Carry Forward of Common Input tax and Input Tax on Faiz Associates, (Adj # i, iii, and iv)
Fixed Assets, MH Associates (Adj # iii, and v)
JFA Associates (Adj # i and iv)
Hadi Associates (Adjust # iii, v & vii)
Meharban Associates (Adjust # i and iii)
Zahid Enterprise (Complete Question)
Confidence Engineering (Adj # (iii), (iv), (v) & (vii))
Zeenat Enterprises (Adj # (i), (iii), (v) & (vii))
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