PwC Accountant Interview Questions and Answers

BRS stands for Bank Reconciliation Statement, which is a statement that compares the bank balance as per bank statement with the balance as per company's books.

• BRS helps in identifying any discrepancies between the bank statement and company's books

• It ensures that all transactions are recorded accurately

• It helps in detecting any fraudulent activities

• Example: If the bank statement shows a different balance than the comp...read more

Bookkeeping is the process of recording financial transactions and maintaining financial records.

• Bookkeeping involves recording all financial transactions of a business.

• It includes maintaining records of income, expenses, assets, and liabilities.

• Bookkeeping is essential for preparing financial statements and tax returns.

• Examples of bookkeeping tasks include recording sales, tracking expenses, and reconciling bank state

GST rates vary depending on the type of goods or services being sold.

• GST rates range from 0% to 28%

• Some goods and services are exempt from GST

• Different rates apply to different categories of goods and services

• For example, essential items like food and healthcare have lower GST rates than luxury items like cars and jewelry

TDS has different sections with varying rates based on the type of payment and recipient.

• Section 192 - TDS on salary income

• Section 194A - TDS on interest income

• Section 194C - TDS on contractor and sub-contractor payments

• Section 194H - TDS on commission payments

• Section 194J - TDS on professional and technical service payments

• Section 195 - TDS on non-resident payments

• Rates range from 1% to 30% depending on the section an

GST rates are the tax rates levied on goods and services under the Goods and Services Tax (GST) system in India.

• GST rates are divided into four categories: 5%, 12%, 18%, and 28%.

• Some goods and services are exempted from GST, such as healthcare and education.

• GST rates are determined by the GST Council, which meets periodically to review and revise the rates.

• The GST rates for different goods and services can be found on ...read more

TDS has different sections with varying rates depending on the nature of payment.

• Section 192 - TDS on salary income

• Section 194A - TDS on interest other than interest on securities

• Section 194C - TDS on payment to contractors and sub-contractors

• Section 194H - TDS on commission or brokerage

• Section 194I - TDS on rent

• Section 194J - TDS on fees for professional or technical services

• Section 195 - TDS on payment to non-residen...read more