Rostfrei Steels Audit Senior Interview Questions and Answers

TDS stands for Tax Deducted at Source, which is a tax deduction made by the payer while making payments.

• TDS rates vary depending on the nature of payment and the status of the payee.

• For example, the TDS rate on salary income can range from 5% to 30% based on the income slab.

• TDS rates on interest income, rent, professional fees, etc., also have specific rates as per the Income Tax Act.

• It is important for auditors to ens...read more

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

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

• Some goods and services are exempt from GST, such as fresh fruits and vegetables

• Certain items like luxury goods may have an additional cess on top of the GST rate