Carborundum Universal Limited Accountant Trainee Interview Questions and Answers

Two way invoice matching is a process where the invoice is matched with the purchase order and the receiving report.

• Two way invoice matching involves comparing the invoice with the purchase order to ensure the prices and quantities match.

• It also involves comparing the invoice with the receiving report to confirm that the goods or services were received.

• Any discrepancies found during the matching process need to be reso...read more

TDS stands for Tax Deducted at Source. It is a tax deduction made by the payer while making payments.

• TDS is deducted as per the rates specified by the Income Tax Department.

• Different sections of the Income Tax Act specify different rates for TDS deduction.

• For example, TDS on salary income is deducted under section 192 at the applicable slab rates.

• TDS on interest income is deducted under section 194A at the rate of 10%.