C&S Electric Executive Accountant Interview Questions and Answers

Q1. Explain about Tds and sections
Ans. 
TDS stands for Tax Deducted at Source. It is a system introduced by the Income Tax Department to collect tax at the source of income.
• TDS is deducted by the payer at the time of making payment to the payee.

• Various sections of the Income Tax Act specify the rates and thresholds for TDS deductions.

• For example, Section 194C deals with TDS on payments to contractors and sub-contractors.

• TDS certificates like Form 16 and Form...read more
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Q2. 194C 1. Individual 1% and company 2%
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Q3. Introduce your self
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Q4. Self Introduction
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Q5. Purchase entry and purchase process
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Q6. Quotation and PO, Inward, GRN, Purchase Entry
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Q7. Sales Invoicing
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Q8. Pic the line item from the Stock then make an Invoice
Ans. 
The line item from the Stock can be selected based on the customer's order and then used to create an Invoice.
• Identify the specific line item in the Stock based on the customer's order details

• Ensure the accuracy of the item selected, including quantity and pricing

• Transfer the selected item to the Invoice template and generate the final document
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Q9. GRN Process How will Make an entry
Ans. 
The GRN process involves making an entry to record goods received into inventory.
• Create a journal entry debiting Inventory and crediting Accounts Payable or Purchase Order

• Include details such as quantity, unit cost, and total cost in the entry

• Ensure the entry is accurately recorded in the accounting system
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Q10. When the buyer receive the goods, the stores department will inspect them against purchase order and examine their physical condition
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It pertains to your fundamental understanding.

Q1. What are the journal entries for prepaid expenses?
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Q2. What are the various sections of TDS and the applicable TDS rates?
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Q1. What are your salary expectations?
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