Taxation System | MCQs

Explanation

Akbar introduced an efficient and fair tax system called the Zabt system based on land measurement.

It increased revenue collection and reduced corruption, becoming a model for future administrations.

Explanation

The procedure relating to recovery of Usher in case of Non payment under section 17 has been laid down in Zakat and Usher rules 1980 

Explanation

Explanation

CBR stands for Central Board of Revenue.

The Central Board of Revenue was created on April 01, 1924.

through the enactment of the Central Board of Revenue Act, 1924

In 1944, a full-fledged Revenue Division was created under the Ministry of Finance until 1960.

 In 1974, further changes were made to streamline the organization and its functions.

In 1991, the CBR once again reverted to its original status under the Revenue Division,

however, in January 1995, the Revenue Division was abolished and the CBR was once again reverted to a division of the Ministry of Finance.

In 2007, the "FBR Act" was passed in July 2007,

whereby the Central Board of Revenue was renamed to the present-day Federal Board of Revenue (FBR) and for a third time placed again under the Revenue Division of the Ministry of Finance

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Explanation

Zakat can be collected through Banks branches