Inventyv Software Services Tax Analyst Interview Questions and Answers

Q1. Personal and background information. About past experience.
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Q2. One and one round.
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Questions on Math, logical reasoning, grammar.

English grammar ,rewrite,rephrase,correction of sentences

Q1. Journal entries,three golden rules
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Q2. Accrual, prepayment,tax concepts
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Q1. About tech finalization
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A way for employers to assess a candidate's abilities through a variety of different testing formats.

Q1. Tell me about yourself
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Q2. What is your understanding of the role of tax analyst
Ans. 
Tax analysts are responsible for analyzing tax regulations, preparing tax returns, and providing tax advice to clients.
• Analyzing tax regulations to ensure compliance with laws

• Preparing accurate and timely tax returns for individuals or businesses

• Providing tax advice to clients on tax planning strategies

• Assisting with tax audits and resolving tax-related issues

• Staying updated on changes in tax laws and regulations
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Q1. They asked regarding journal entries and accounting principles
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Q1. What is your total and relevant work experience.
Ans. 
I have 5 years of total work experience, with 3 years of relevant experience in tax analysis.
• Total work experience: 5 years

• Relevant work experience in tax analysis: 3 years
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Q2. What is your current package and what is your expectation?
Ans. 
I am currently earning $X and my expectation is to earn $Y.
• My current package is $X.

• I am expecting a salary of $Y.

• I believe my skills and experience justify this expectation.

• I am open to negotiation based on the overall compensation package.
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Q1. Hiring manger asked me a questions related to Indian taxes especially GST and TDS part. There were few questions also related to accounting standards.
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Q2. Are you okay with night shift?
Ans. 
Yes, I am okay with night shift.
• I am comfortable working during the night.

• I have previous experience working night shifts.

• I understand the importance of maintaining accuracy and focus during night hours.

• I am willing to adjust my sleep schedule accordingly.

• I am aware of the potential challenges and have strategies to stay alert and productive.
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Q1. What do you do in your current role?
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Q1. Tell me some tax technical you have worked on.
Ans. 
Researched and implemented tax strategies for multinational corporations.
• Conducted transfer pricing analysis to ensure compliance with international tax laws

• Advised on tax implications of cross-border transactions

• Developed tax-efficient structures for global operations

• Assisted in preparing transfer pricing documentation for tax authorities
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Q1. What are the pre-requisites of Revenue recognition?
Ans. 
Pre-requisites of revenue recognition include identifying the contract, determining the transaction price, and assessing collectability.
• Identifying the contract with the customer

• Determining the transaction price

• Assessing collectability

• Identifying performance obligations

• Allocating the transaction price to performance obligations

• Recognizing revenue when performance obligations are satisfied

• Disclosing revenue and related
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Q2. What is a Fixed asset Register?
Ans. 
A Fixed Asset Register is a record of a company's tangible assets such as property, plant, and equipment.
• It helps in tracking the location, value, and depreciation of fixed assets.

• It is used for financial reporting, tax purposes, and insurance claims.

• Examples of fixed assets include buildings, machinery, vehicles, and furniture.

• The register should be regularly updated to reflect any changes in the status of fixed asset
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Q3. Why is Budget so important for any organization?
Ans. 
Budget is important for any organization as it helps in planning, controlling and allocating resources effectively.
• Helps in setting financial goals and objectives

• Provides a framework for decision making

• Helps in identifying potential financial problems

• Assists in allocating resources effectively

• Enables effective monitoring and control of financial performance
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