Shailesh Parekh and Associates Interview Questions and Answers

I keep track of latest tax law amendments through regular updates from tax authorities, attending seminars/webinars, and consulting with tax experts.

• Regularly check official websites of tax authorities for updates

• Subscribe to newsletters or alerts from tax authorities

• Attend seminars, webinars, or conferences on tax laws

• Consult with tax experts or professionals for guidance

• Join professional organizations related to taxa

Due dates for different types of ITR forms vary depending on the category of taxpayer and financial year.

• ITR-1 (Sahaj) for individuals - Due date usually 31st July of the assessment year

• ITR-2 for individuals and HUFs not having income from business or profession - Due date usually 31st July of the assessment year

• ITR-3 for individuals and HUFs having income from business or profession - Due date usually 31st October of ...read more

Finalising books of a partnership firm involves preparing financial statements, reconciling accounts, and distributing profits among partners.

• Prepare a trial balance to ensure all transactions are recorded accurately

• Create a profit and loss statement and balance sheet to show the financial position of the firm

• Reconcile partner's capital accounts to distribute profits or losses

• Close revenue and expense accounts to start...read more

E-way bill is an electronic document required for the movement of goods worth over a certain value.

• E-way bill is mandatory for inter-state transportation of goods with value exceeding Rs. 50,000.

• It is generated online on the E-way bill portal by the consignor or consignee.

• The bill contains details such as the type of goods, quantity, value, and destination.

• It helps in tracking the movement of goods and preventing tax e...read more