Guru & Jana Chartered Accountants Interview Questions, Process, and Tips

Q1. Tell me about yourself.
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Q2. Tell me about your family.
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Q1. How to get taxable income in income tax?
Ans. 
Taxable income in income tax is calculated by subtracting allowable deductions from total income.
• Taxable income = Total income - Allowable deductions

• Total income includes salary, rental income, capital gains, etc.

• Allowable deductions can include expenses like home loan interest, medical insurance premium, etc.
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Q2. How to calculate GAV under the head income from HP?
Ans. 
GAV under the head income from HP is calculated by adding the annual value of the property and deducting municipal taxes.
• Calculate annual value of property by considering higher of fair rent or municipal value

• Deduct municipal taxes paid during the year from the annual value

• The result is the Gross Annual Value (GAV) under the head income from HP
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The discussion was to give reality check of the work.

Q1. Difficult time u faced
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Q2. How did u handle difficult situations?
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Q1. Normal questions about background check
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Q1. Tds section question
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Q2. Sec 43(b) of income tax
Ans. 
Sec 43(b) of income tax deals with deduction of expenses related to business or profession.
• Sec 43(b) allows deduction of certain expenses incurred for business or profession.

• These expenses must be revenue in nature and not capital in nature.

• Examples of such expenses include rent, salaries, repairs, etc.

• The deduction is allowed in the year in which the expenses are actually incurred.
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Q3. Related party transactions
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Q4. Work profile & expected CTC
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Q5. Tax audit limit for individual and partnership firm
Ans. 
Tax audit limit for individual and partnership firm is Rs. 50 lakhs and Rs. 1 crore respectively.
• Tax audit limit for individuals is Rs. 50 lakhs of turnover or gross receipts in a financial year.

• Tax audit limit for partnership firms is Rs. 1 crore of turnover or gross receipts in a financial year.

• If the turnover or gross receipts exceed the specified limit, tax audit is mandatory.

• Tax audit helps in ensuring the accurac...read more
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Q1. What is pos rules
Ans. 
POS rules refer to the set of guidelines and regulations that govern the use of point-of-sale systems in retail and other industries.
• POS rules cover topics such as security, data protection, and compliance with industry standards.

• Examples of POS rules include requirements for secure payment processing, restrictions on the use of certain types of payment cards, and guidelines for handling customer data.

• Compliance with P...read more
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Q2. What is rcm and what are services
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Q3. Tell me about yourself
Ans. 
I am an experienced Employee Relations Executive with a strong background in managing employee relations, conflict resolution, and HR policies.
• Over 5 years of experience in employee relations

• Expertise in handling employee grievances and conflict resolution

• Proficient in implementing HR policies and procedures

• Strong communication and interpersonal skills

• Proven track record of fostering positive employee relations

• Implemen...read more
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