MSME Technology Centre Senior Accountant Interview Questions and Answers

Q1. TDS sections and rate
Ans. 194C @ 1% for individuals & HUF and 2% for all others, threshold limit 1,00,000/- in a year. 194J @ 10% for professional services and 2% for Technical services, Threshold limit 30,000/- in a year
Answered Anonymously
Add your answer
Q2. Tell me about 194Q
Ans. 
194Q is a provision introduced in the Indian Income Tax Act to deduct TDS on certain specified transactions.
• 194Q stands for Section 194Q of the Indian Income Tax Act.

• It requires the buyer to deduct TDS at the rate of 0.1% on the purchase of goods exceeding INR 50 lakhs in a financial year.

• The provision aims to widen the tax net and ensure tax compliance.

• It applies to buyers who are not liable to audit under Section 44A...read more
Answered by AI
Add your answer
Q3. Tell me about GST TDS
Ans. 
GST TDS refers to the deduction of tax at source under the Goods and Services Tax (GST) regime.
• GST TDS is applicable when making certain payments to suppliers or service providers.

• The person making the payment is required to deduct a certain percentage as TDS and remit it to the government.

• The deducted TDS amount is then credited to the supplier's or service provider's electronic cash ledger.

• The supplier or service pro...read more
Answered by AI
Add your answer
Q4. TDS return filing date
Ans. 
The due date for filing TDS returns depends on the type of deductor and the quarter in which the deductions are made.
• For government deductors, the due date is 31st July, 31st October, 31st January, and 31st May for the quarters ending June, September, December, and March respectively.

• For non-government deductors, the due date is 31st July, 31st October, 31st January, and 31st May for the quarters ending June, September...read more
Answered by AI
Add your answer

Is some assignment