Deloitte Tax Associate Interview Questions and Answers

Account questions and logical reasoning

Q1. Why do u choose kpmg
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Q1. What is Withholding tax?
Ans. 
Withholding tax is a tax deducted at source by the payer of income, typically on interest, dividends, or wages.
• Withholding tax is deducted by the payer of income before it is paid to the recipient.

• It is commonly applied to interest, dividends, royalties, and wages.

• The withheld tax is then paid directly to the government on behalf of the recipient.

• The recipient may still need to report the income and withholding tax on ...read more
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Q2. How do you do income allocation in 704c method?
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Income allocation in 704c method involves assigning income or deductions to partners based on their share of partnership profits.
• Income allocation in 704c method is used to allocate income or deductions to partners in a partnership based on their share of partnership profits.

• This method is typically used when there is a substantial disparity between the book value and tax basis of partnership assets.

• The allocation is m...read more
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Q1. Basis accounting and basics of US tax
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Q2. Basics of US tax
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It was basic aptitude test with communication section, which includes reading, listening, speaking and writing.

Q1. Basic questions on finance and tax were asked
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Q2. Do you know anything about Indian Tax?
Ans. 
Yes, Indian Tax system is complex and diverse with various taxes like income tax, GST, customs duty, etc.
• Indian tax system is governed by the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC)

• Income tax is levied on the income earned by individuals and businesses

• Goods and Services Tax (GST) is a value-added tax levied on the supply of goods and services

• Customs duty is levied...read more
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Q1. It was a normal HR round. All the basic HR questions were asked.
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It is similar to the cpt test in ca course

Q1. Questions on taxation law, budget and recent updates
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Q2. As mentioned above the questions are on the law and mainly on the recent amendments
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Q1. General to check command over english, confidence and a few technical questions
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Q2. The Partner round is generally to understand your calibre for the corporate world
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Online asesment that measures the numerically and logical abilities

Case study about tax that focus ok implementing the vat in GCC countries

Q1. Introduc yourself
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Q2. What do you know about the Egyptian tax system
Ans. 
The Egyptian tax system consists of various taxes including income tax, value-added tax, and corporate tax.
• Egypt has a progressive income tax system with rates ranging from 0% to 22.5%

• Value-added tax (VAT) is levied at a standard rate of 14%

• Corporate tax rate is 22.5% for most companies

• There are also other taxes such as property tax, stamp duty, and customs duties
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Q1. Section 35DA deduction
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Q2. Section 80JJAA deduction
Ans. 
Section 80JJAA deduction allows deduction for new employment generation in specified industries.
• Section 80JJAA of the Income Tax Act allows a deduction to employers for new employment generation in specified industries.

• The deduction is available for 30% of additional employee cost for 3 consecutive assessment years.

• The deduction is available to Indian companies engaged in manufacture or production of goods in specified...read more
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Q3. Section80Cdediction
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Q4. Riound tripping ofshares
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Q5. Go goa gone less
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