KPMG India Tax Consultant Interview Questions and Answers

Q1. What is Withholding tax?
Ans. 
Withholding tax is a tax deducted at source by the payer of income, typically on interest, dividends, or wages.
• Withholding tax is deducted by the payer of income before it is paid to the recipient.

• It is commonly applied to interest, dividends, royalties, and wages.

• The withheld tax is then paid directly to the government on behalf of the recipient.

• The recipient may still need to report the income and withholding tax on ...read more
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Q2. How do you do income allocation in 704c method?
Ans. 
Income allocation in 704c method involves assigning income or deductions to partners based on their share of partnership profits.
• Income allocation in 704c method is used to allocate income or deductions to partners in a partnership based on their share of partnership profits.

• This method is typically used when there is a substantial disparity between the book value and tax basis of partnership assets.

• The allocation is m...read more
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It was basic aptitude test with communication section, which includes reading, listening, speaking and writing.

Q1. Basic questions on finance and tax were asked
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Q2. Do you know anything about Indian Tax?
Ans. 
Yes, Indian Tax system is complex and diverse with various taxes like income tax, GST, customs duty, etc.
• Indian tax system is governed by the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC)

• Income tax is levied on the income earned by individuals and businesses

• Goods and Services Tax (GST) is a value-added tax levied on the supply of goods and services

• Customs duty is levied...read more
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Q1. It was a normal HR round. All the basic HR questions were asked.
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Average questions study all basic accounting

Account questions and logical reasoning

Q1. Why do u choose kpmg
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