Konnect Consultancy Services Senior Tax Associate Interview Questions and Answers

Basics of accounting, journal entries, bad debts...

Q1. Calculate the tax liability if the income is 1400000
Ans. 
Tax liability for income of 1400000 needs to be calculated.
• Determine the tax bracket based on the income level

• Calculate the tax amount based on the tax rates for each bracket

• Consider any deductions or credits that may apply
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Q1. Related to TDS due date
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Q2. Related to GST return and due date
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Q3. Related to costing
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Q4. What is marginal costing?
Ans. 
Marginal costing is a costing technique where only variable costs are considered in determining the cost of a product or service.
• Marginal costing helps in determining the contribution margin of a product, which is the difference between its selling price and variable costs.

• Fixed costs are not included in the calculation under marginal costing.

• It is useful for decision-making as it helps in analyzing the impact of chang...read more
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Q1. About sap process cycle
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Q2. P 2p defination and r to r cycle
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