RSM US in India Tax Consultant Interview Questions and Answers

Online asesment that measures the numerically and logical abilities

Case study about tax that focus ok implementing the vat in GCC countries

Q1. Introduc yourself
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Q2. What do you know about the Egyptian tax system
Ans. 
The Egyptian tax system consists of various taxes including income tax, value-added tax, and corporate tax.
• Egypt has a progressive income tax system with rates ranging from 0% to 22.5%

• Value-added tax (VAT) is levied at a standard rate of 14%

• Corporate tax rate is 22.5% for most companies

• There are also other taxes such as property tax, stamp duty, and customs duties
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Easy just basic of accounts they ask.

Q1. About yourself and your resume
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Q2. Why deloitte Where do you see yourself in 5 years
Ans. 
I chose Deloitte for its reputation for excellence in tax consulting. In 5 years, I see myself as a senior tax consultant leading a team.
• Deloitte's reputation for excellence in tax consulting

• Opportunities for growth and development at Deloitte

• Desire to become a senior tax consultant and lead a team

• Commitment to continuous learning and professional development

• Building strong client relationships and delivering high-qual
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Q1. Journal enteries based questions
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Q2. Behavioural questions
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Q1. Journal entery based questions
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Q2. Behavioural based questions
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Q1. Section 35DA deduction
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Q2. Section 80JJAA deduction
Ans. 
Section 80JJAA deduction allows deduction for new employment generation in specified industries.
• Section 80JJAA of the Income Tax Act allows a deduction to employers for new employment generation in specified industries.

• The deduction is available for 30% of additional employee cost for 3 consecutive assessment years.

• The deduction is available to Indian companies engaged in manufacture or production of goods in specified...read more
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Q3. Section80Cdediction
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Q4. Riound tripping ofshares
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Q5. Go goa gone less
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Q1. Basis accounting and basics of US tax
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Q2. Basics of US tax
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It was easy to crack aptitude test but cracking versent test was not easy.

Q1. Is depriciation charged on land?
Ans. 
No, depreciation is not charged on land as land is considered to have an indefinite useful life.
• Depreciation is only charged on assets with a limited useful life, such as buildings, machinery, vehicles, etc.

• Land is considered to have an indefinite useful life and its value is not expected to decrease over time.

• The cost of land is not depreciated, but any improvements made on the land, such as buildings or landscaping, ...read more
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Q2. Effect of cost incured on setting up plant and machinery
Ans. 
Cost incurred on setting up plant and machinery can have tax implications on depreciation and capitalization.
• Cost incurred on setting up plant and machinery is usually capitalized and depreciated over its useful life.

• The depreciation expense can be deducted from taxable income, reducing the tax liability.

• Certain costs may need to be expensed immediately instead of being capitalized, such as repairs and maintenance.

• Tax ...read more
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QA, VA, LR, Tax Question

Q1. Introduce yourself? General accounting questions
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Q1. Tell me about your job profile
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