ClearTax Interview Questions, Process, and Tips

Q1. Standard MM process from PTP cycle
Ans. 
The standard MM process from PTP cycle involves several steps.
• The process starts with the creation of a purchase requisition.

• The purchase requisition is then approved and converted into a purchase order.

• The purchase order is sent to the vendor and goods are received.

• The goods are inspected and the invoice is verified.

• The invoice is then posted and payment is made to the vendor.
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Q1. Managerial round with all the questions not related to SAP
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Q1. What is section 115BAC
Ans. 
Section 115BAC is a provision in the Income Tax Act that offers individuals the option to choose a lower tax rate by forgoing certain deductions and exemptions.
• Section 115BAC was introduced in the Union Budget of 2020 and is applicable from the financial year 2020-21.

• Under this section, individuals and Hindu Undivided Families (HUFs) have the choice to be taxed at lower rates if they opt for the new tax regime.

• The tax ...read more
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HR related on work, background and history

Q1. Tax related questions on GST and INdirect tax
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Q1. WIth manager straight forward and simple
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