C.V.K & Associates Accounts Executive and Audit Assistant Interview Questions and Answers

Q1. What is section 194J
Ans. 
Section 194J of the Income Tax Act deals with TDS on professional or technical services.
• Section 194J requires deduction of TDS at the rate of 10% on payments made for professional or technical services.

• It applies to payments made to a resident individual, a Hindu Undivided Family (HUF), a partnership firm, or a company.

• The threshold limit for applicability of TDS under section 194J is Rs. 30,000 in a financial year.

• Exa...read more
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Q1. About self information
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Q2. They are not asking anything they just want working people like labour in minimum payout if anybody got another opportunity they refused for releaving letter
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Q3. Just do go for it
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Q1. Previous job experience
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Basic questions related to English grammer, Quantitative Aptitude & reasoning were asked.

Questions were asked to test the proficiency in Data Structure, Core OOPs principles and any programming language.

Q1. What is inheritance, describe polymorphism, Tell me some Java 8 features, how stack works, differentiate between stack and queue considering their working, describe enhanced for loop in java, differentiate...read more
Ans. 
Inheritance is a mechanism in which a new class inherits properties and behaviors from an existing class. Polymorphism allows objects of different classes to be treated as objects of a common superclass.
• Java 8 features include lambda expressions, functional interfaces, streams, and default methods.

• Stack is a data structure that follows the Last In First Out (LIFO) principle, while a queue follows the First In First Out...read more
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Q1. Past experience details
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Good to have strong accounting knowledge and normal psychometric test

Q1. Be yourself and have a lot of behavioural examples
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Q2. Tell us about a time you dealt with a difficult colleage?
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Group presentation activity

Online based aptitude test which included accounts. journal and ledger

Q1. Whats your experrince in taxation
Ans. 
I have over 5 years of experience in taxation, including preparing tax returns, conducting tax research, and advising clients on tax planning strategies.
• Prepared individual and business tax returns accurately and efficiently

• Conducted tax research to stay up-to-date on changing tax laws and regulations

• Advised clients on tax planning strategies to minimize tax liabilities

• Assisted with IRS audits and resolving tax issues

• W...read more
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Q2. What is accounting rules
Ans. 
Accounting rules are guidelines and principles that govern the preparation of financial statements and ensure consistency and accuracy.
• Accounting rules help ensure that financial information is recorded accurately and consistently.

• They provide guidelines on how to classify, measure, and report financial transactions.

• Examples of accounting rules include the matching principle, revenue recognition principle, and the hist
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Q3. Heads of income amd their explanations
Ans. 
Heads of income refer to different categories under which income is classified for tax purposes.
• Heads of income include salary, house property, business or profession, capital gains, and other sources.

• Salary income includes income from employment, bonuses, allowances, etc.

• House property income includes rental income from properties owned by the individual.

• Business or profession income includes income from self-employme...read more
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Q1. Expected CTC, current roles and responsibilities
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Q2. Why do you want to join Crowe
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