The system is specifically designed for two- and three-wheelers to provide targeted relief to low-income strata. While the government is considering extending it to small cars, the primary focus remains on motorcycles and rickshaws. [Source: https://www.dawn.com/news/1985206/mobile-app-based-fuel-quota-system-finalised-for-motorcycles-rickshaws-amid-global-oil-crisis, 25 Mar 2026]
63382
Consider the following statements about the FTO ruling regarding the FBR's IRIS software:
1. The Commissioner Inland Revenue had granted approval for the taxpayer to file a revised return.
2. The IRIS software automatically calculated the surcharge under Section 4AB correctly for the taxpayer.
3. The FTO observed that the taxpayer should not be forced into litigation due to the department's outdated computer systems.
Which of the statements given above is/are correct?
Statement 1 is correct as the Commissioner had granted approval under Section 114(6)(ba). Statement 2 is incorrect because the IRIS software failed to pick up the surcharge under Section 4AB for the correct calculation of the tax credit. Statement 3 is correct as it reflects the Ombudsman's observation regarding the burden placed on taxpayers by systemic failures. [Source: https://www.dawn.com/news/2017155/fbr-cannot-hide-behind-software-limitations-federal-tax-ombudsman, 21 Jul 2026]
63383
Under which section of the Income Tax Ordinance 2001 was the taxpayer entitled to a tax credit that the IRIS software failed to process?
The taxpayer was entitled to a tax credit for an investment in an Approved Pension Fund under Section 63 of the Income Tax Ordinance 2001. Section 4AB relates to the surcharge, while Section 114 pertains to the filing of returns. [Source: https://www.dawn.com/news/2017155/fbr-cannot-hide-behind-software-limitations-federal-tax-ombudsman, 21 Jul 2026]
63384
Which of the following statements regarding the FTO ruling on July 21, 2026, is INCORRECT?
The FTO explicitly rejected the FBR's attempt to use software limitations as a shield. Therefore, the statement that the FBR successfully used this as a legal defense is false. [Source: https://www.dawn.com/news/2017155/fbr-cannot-hide-behind-software-limitations-federal-tax-ombudsman, 21 Jul 2026]
63385
The Federal Board of Revenue (FBR) functions under the administrative oversight of which government department to ensure fiscal policy implementation?
The Federal Board of Revenue operates under the Ministry of Finance, serving as the central authority for the administration and collection of federal taxes within the national economic governance framework.
Which article of the Constitution of Pakistan mandates that no tax shall be levied for the purposes of the Federation except by or under the authority of an Act of Parliament?
Which of the following revenue streams is excluded from the divisible pool shared between the Federation and the Provinces under the National Finance Commission award?
The Petroleum Development Levy is classified as a non-tax revenue and is not part of the divisible pool shared with provinces under the National Finance Commission award, allowing the Federal Government to retain it entirely.
The Oil and Gas Regulatory Authority issued a notification increasing the price of kerosene by Rs130.08, bringing the total to Rs318.81 per litre. Rs188.73 was the previous price effective from March 1, 2026. [Source: https://www.dawn.com/news/1979534/govt-hikes-kerosene-price-by-rs130-to-rs31881-per-litre, 07 Mar 2026]
63389
The National Economic Council, responsible for reviewing the overall economic condition of the country, is chaired by the:
According to Article 156 of the Constitution of Pakistan, the National Economic Council is chaired by the Prime Minister of Pakistan to ensure coordinated economic planning.
Economic stabilization policies often require fiscal consolidation, which includes the reduction of government subsidies to lower public expenditure and narrow the budget deficit.
