EY Global Delivery Services ( EY GDS) Senior Tax Analyst Interview Questions and Answers

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Q1. Tell me about yourself
Ans. 
I am a tax consultant with 5 years of experience helping clients navigate complex tax laws and maximize their deductions.
• I have a Bachelor's degree in Accounting from XYZ University.

• I am proficient in tax preparation software such as TurboTax and QuickBooks.

• I have successfully helped clients save thousands of dollars by identifying overlooked deductions.

• I stay up-to-date on the latest tax laws and regulations to provid
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Q2. Why do you want to work in this company
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I am drawn to your company's reputation for providing top-notch tax consulting services and opportunities for professional growth.
• Impressed by the company's track record of successful tax consulting projects

• Excited about the potential for career advancement and skill development

• Interested in working with a team of experienced professionals in the field
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Q1. Golden rules of accounting
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Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The three golden rules of accounting are: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.

• For example, when a compa...read more
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Q2. Journal entry in basic
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A journal entry is a record of a financial transaction in a company's accounting system.
• Journal entries consist of a debit and credit entry to different accounts

• Debits are recorded on the left side and credits on the right side

• The total debits must equal the total credits in a journal entry
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Basic accounting problems and concepts with simple logical reasoning questions.

Q1. If the clients annual income is Rs. 1400000 what is their tax liability?
Ans. 
Tax liability for a client with an annual income of Rs. 1400000.
• Calculate the tax liability based on the income tax slabs applicable in the country.

• Consider any deductions or exemptions that the client may be eligible for.

• Consult a tax professional or use an online tax calculator for accurate results.
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Q1. Basic accounting
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Excel test for knowledge of excels

Q1. Where do you see yourself in 5 year
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Q1. How much experience ?
Ans. 
I have 5 years of experience in taxation, including both corporate and individual tax preparation.
• I have 5 years of experience in taxation

• I am well-versed in both corporate and individual tax preparation

• I have successfully handled complex tax issues and audits

• I stay updated with the latest tax laws and regulations

• I have experience in tax planning and strategy development
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Q1. Process of filing GSTR-1?
Ans. 
GSTR-1 is filed to report outward supplies made by a taxpayer in a given period.
• Log in to GST portal and select GSTR-1 form

• Fill in details of outward supplies made during the period

• Validate and submit the form

• Generate and file the return using DSC or EVC

• Once filed, the details cannot be edited but can be amended in next period's return
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Q2. How to handle large volume of invoices?
Ans. 
Automate invoice processing and use software to manage and organize invoices.
• Use software to scan and extract data from invoices

• Implement an automated approval process for invoices

• Organize invoices by vendor, date, and amount

• Set up alerts for overdue invoices

• Consider outsourcing invoice processing to a third-party provider
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