Deloitte Senior Executive Taxation Interview Questions and Answers

Residency rules in India determine the tax liability of an individual based on their stay in India.

• An individual is considered a resident if they have stayed in India for 182 days or more in a financial year.

• If an individual has stayed in India for less than 182 days, they are considered a non-resident.

• If an individual is a resident for two out of the past ten financial years and has stayed in India for 60 days or more...read more

Gain on sale of property is a taxable event where the seller earns a profit from selling a property.

• The gain on sale of property is calculated by subtracting the cost basis from the sale price.

• The gain is subject to capital gains tax.

• There are certain exemptions and deductions available to reduce the tax liability on the gain.

• For example, if the property was the seller's primary residence for at least two out of the pa...read more