PMS Commerce Past Paper 2022 PDF
PUNJAB PUBLIC SERVICE COMMISSION
Combined Competitive Examination (CCE) 2022
For Recruitment to the Posts of Provincial Management Service (PMS)
SUBJECT: Commerce (Paper-1)
Time Allowed: 3 Hours
Maximum Marks: 100
NOTE:
Attempt FIVE Questions in all, selecting minimum TWO questions from each part. Calculator is allowed (not programmable).
PART – A
INSTRUCTIONS
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Attempt any FIVE questions.
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All questions carry equal marks.
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Attempt questions clearly and systematically.
SECTION – A
Q. No. 1
Give an analysis of exports and imports of Pakistan in the context of the current Economic Survey.
(20 Marks)
Q. No. 2
Define fiscal policy and discuss its various tools in detail.
(20 Marks)
Q. No. 3
What is Memorandum of Association? What are its contents? Also explain the difference between Memorandum of Association and Articles of Association.
(20 Marks)
Q. No. 4
Define different levels of Corporate Social Responsibility (CSR). Also explain its role in the strategic management process.
(20 Marks)
SECTION – C
Q. No. 5
Explain in detail the procedure for formation of joint stock companies in Pakistan.
(20 Marks)
Q. No. 6
Define a Letter of Credit. Discuss the main types of Letter of Credit.
(20 Marks)
SECTION – D
Q. No. 7
Define the capital budgeting process. Also explain in detail different capital budgeting techniques used for project evaluation.
(20 Marks)
Q. No. 8
From the following data, calculate the income tax payable by Mr. Ahmed for the tax year ending 30th June 2021:
(20 Marks)
Given Data:
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Basic Salary: Rs. 80,000 per month
(Pay Scale: Rs. 60,000 – 5,000 – 95,000)
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Bonus: Rs. 200,000
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Entertainment Allowance: 50% of minimum time scale
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Conveyance Allowance: Rs. 90,000
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Tax paid by employer: Rs. 25,000
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Zakat deducted: Rs. 260,000
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Reimbursement of internet bill (for office use): Rs. 35,000
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Encashment of unavailed leave: Rs. 25,000
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Interest-free loan from employer: Rs. 12,00,000
Given Information
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Medical Allowance Rs. 100,000
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Fixed Educational Allowance for Children Rs. 70,000
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Telephone Bills Paid by Employee Rs. 36,000 (Tax paid Rs. 3,500)
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Hotel Bills Paid by Company (Official Duties) Rs. 65,000
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Utilities Allowance Rs. 45,000
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TV & Refrigerator provided by employer costing Rs. 150,000 (Depreciation @ 20%)
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Tax deducted from salary Rs. 40,000
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Health Insurance Premium paid by employer Rs. 80,000
Rates of tax for salaried persons are as follow
Taxable Income Income Tax Rate in Pakistan Where taxable income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000
50% of the amount exceeding Rs. 600,000
Where taxable income exceeds Rs. 1,200,000 but does not exceed Rs. 1,800,000
Rs. 30,000 plus 10% of the amount exceeding Rs. 1,200,000
Where taxable income exceeds Rs. 1,800,000 but does not exceed Rs,2,500,000
Rs. 90,000 plus 15% of the amount exceeding
Rs. 11800100
Where taxable income exceeds Rs. 2,500,000 but does not exceed Rs,3,500,000
Rs. 195,000 plus 17.5% of the amount exceeding Rs.2,500,000
Where taxable income exceeds Rs. 3,500,000 but does not exceed Rs 5,000,000
Rs. 370,000 plus 20% of the amount exceeding ,
Rs. 31500,000
Where taxable income exceeds Rs. 5,000,000 but does not exceed Rs 8,000,000
Rs. 670,000 plus 22.5% of the amount exceeding
Rs. 5,000,000
Where taxable income exceeds Rs. 8,000,000 but does not exceed Rs 12,000,000
Rs. 1,345,000 plus 25% of the amount exceeding
Rs. 8,000,000
Where taxable income exceeds Rs. 12,000,000 but does not exceed Rs 30,000,000
Rs. 2,345,000 plus 27.5% of the amount exceeding
Rs. 12,000,000
Where taxable income exceeds Rs. 30,000,000 but does not exceed Rs 50,000,000
Rs. 7,955,000 plus 30% of the amount exceeding
Rs. 30,000,000
Where taxable income exceeds Rs. 50,000,000 but does not exceed Rs 75,000,000
Rs. 13,295,000 plus 32.5% of the amount exceeding
Rs. 50,000,000
Where taxable income exceeds 75,000,000
Rs. 21,420,000 plus 35% of the amount exceeding Rs. 75,000,000]
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