Deloitte Tax Consultant Interview Questions, Process, and Tips

I had applied for the Canada Tax Consultant Role and the first round was the Versant and Aptitude test. First, HR called me for a basic discussion and informed me about the test rounds. The Versant round tested my English speaking, listening, and reading skills. After the Versant round, I took the aptitude test which had three sections - Logical reasoning, Accounting (including journal entries and B.Com related questions), and Excel-related questions.

Q1. Tell me about yourself, and your family
Ans. 
I am a tax consultant with a passion for helping clients navigate complex tax laws. My family is supportive and close-knit.
• I have been working as a tax consultant for the past 5 years

• I specialize in corporate tax planning and compliance

• My family consists of my parents, my spouse, and two children

• We enjoy spending quality time together on weekends
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Q2. Asked about my job roles in my previous company
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Q3. How did you cope with the previous tax season, and how many hours did you work last tax season?
Ans. 
I coped with the previous tax season by managing my time effectively and working long hours when necessary.
• I prioritized tasks and created a schedule to ensure all deadlines were met

• I communicated effectively with clients to gather necessary information in a timely manner

• I worked an average of 60 hours per week during the tax season

• I made sure to take breaks and practice self-care to avoid burnout
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Q4. Why are you leaving your current company
Ans. 
Seeking new opportunities for professional growth and development.
• Looking for new challenges and opportunities to expand my skills

• Interested in exploring different areas of tax consulting

• Seeking a company with better career advancement opportunities
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Q1. Tell me about yourself and your family and also about your friends.
Ans. 
I am a tax consultant with a loving family and a close-knit group of friends.
• I am a tax consultant by profession

• I have a supportive and loving family

• I have a close group of friends who I enjoy spending time with
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Q2. Have you done any extracurricular activities during your college
Ans. 
Yes, I was actively involved in the finance club and volunteered for tax preparation workshops.
• Participated in finance club activities

• Volunteered for tax preparation workshops

• Organized fundraising events for charity

• Attended seminars on tax laws and regulations
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Q3. What is your Hobby?
Ans. 
My hobby is photography. I love capturing moments and exploring different perspectives through my camera lens.
• I enjoy experimenting with different lighting techniques

• I like to explore new locations and find unique angles for my shots

• I often participate in photography contests and exhibitions
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Q1. About yourself and your resume
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Q2. Why deloitte Where do you see yourself in 5 years
Ans. 
I chose Deloitte for its reputation for excellence in tax consulting. In 5 years, I see myself as a senior tax consultant leading a team.
• Deloitte's reputation for excellence in tax consulting

• Opportunities for growth and development at Deloitte

• Desire to become a senior tax consultant and lead a team

• Commitment to continuous learning and professional development

• Building strong client relationships and delivering high-qual
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Q1. Journal enteries based questions
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Q2. Behavioural questions
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Q1. Journal entery based questions
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Q2. Behavioural based questions
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It was easy to crack aptitude test but cracking versent test was not easy.

Q1. Is depriciation charged on land?
Ans. 
No, depreciation is not charged on land as land is considered to have an indefinite useful life.
• Depreciation is only charged on assets with a limited useful life, such as buildings, machinery, vehicles, etc.

• Land is considered to have an indefinite useful life and its value is not expected to decrease over time.

• The cost of land is not depreciated, but any improvements made on the land, such as buildings or landscaping, ...read more
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Q2. Effect of cost incured on setting up plant and machinery
Ans. 
Cost incurred on setting up plant and machinery can have tax implications on depreciation and capitalization.
• Cost incurred on setting up plant and machinery is usually capitalized and depreciated over its useful life.

• The depreciation expense can be deducted from taxable income, reducing the tax liability.

• Certain costs may need to be expensed immediately instead of being capitalized, such as repairs and maintenance.

• Tax ...read more
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It was not that easy

Q1. What is deferred tax
Ans. 
Deferred tax is a liability or asset that arises from the difference between accounting income and taxable income.
• Deferred tax is the tax effect of temporary differences between accounting income and taxable income.

• It can be a liability if taxable income is greater than accounting income, or an asset if the reverse is true.

• Examples include depreciation expenses and revenue recognition timing differences.

• Deferred tax li...read more
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Q2. Journals entries
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Q1. Situation based question
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Q2. Who is the rbi governor
Ans. 
Shaktikanta Das is the current RBI Governor.
• Shaktikanta Das was appointed as the 25th Governor of the Reserve Bank of India in December 2018.

• He has previously served as the Economic Affairs Secretary and Revenue Secretary of India.

• As RBI Governor, he has focused on maintaining financial stability and supporting economic growth.
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