SP Chopra & Co Concurrent Auditor Interview Questions and Answers

Tds & gst journal entries and due dates were asked

Q1. Salary expectations
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Q2. Work experience
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Q3. If the location is comfortable or not
Ans. 
Yes, the location is comfortable with spacious workstations and natural lighting.
• Spacious workstations provide ample room to work comfortably

• Natural lighting creates a pleasant work environment

• Accessible amenities such as restrooms, kitchen, and parking contribute to comfort
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Q1. Due dates of tds & gst
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TDS due date is 7th of the following month, GST due date is 20th of the following month.
• TDS payment due date is 7th of the following month after deduction.

• GST payment due date is 20th of the following month for regular taxpayers.

• For taxpayers with turnover exceeding Rs. 5 crore, GST due date is 20th of the next month for GSTR-3B and 24th for GSTR-1.

• Late payment of TDS attracts interest at 1.5% per month or part thereof...read more
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Q2. Journal entries
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Q3. Excel related questions
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Q1. What is accounting
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Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business.
• Involves recording financial transactions

• Summarizing financial data in financial statements

• Analyzing financial information to make business decisions

• Reporting financial results to stakeholders

• Examples include balance sheets, income statements, and cash flow statements
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Q2. What is indirect tax
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Indirect tax is a tax collected by an intermediary (such as a retailer) from the person who ultimately bears the economic burden of the tax.
• Indirect taxes are not directly paid by the consumer to the government.

• They are imposed on goods and services, and the burden is passed on to the final consumer.

• Examples include sales tax, value-added tax (VAT), excise duty, and customs duty.
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Q3. What is capital gain
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Capital gain is the profit that results from a sale of a capital asset, such as stocks, bonds, or real estate.
• Capital gain is the difference between the purchase price and the selling price of an asset.

• It is considered a taxable event by the IRS.

• Long-term capital gains are taxed at a lower rate than short-term capital gains.

• Examples of capital assets include stocks, bonds, real estate, and precious metals.
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Q4. Slab reates of income tax
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Income tax slab rates are the different levels of income at which different tax rates apply.
• Income up to Rs. 2.5 lakh is exempt from tax

• Income between Rs. 2.5 lakh to Rs. 5 lakh is taxed at 5%

• Income between Rs. 5 lakh to Rs. 10 lakh is taxed at 20%

• Income above Rs. 10 lakh is taxed at 30%
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Q5. Induction to ur self
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I am a detail-oriented and organized individual with a strong background in accounting and finance.
• Bachelor's degree in Accounting

• 2+ years of experience in accounts payable and receivable

• Proficient in using accounting software such as QuickBooks

• Strong analytical and problem-solving skills

• Excellent communication and interpersonal skills
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Q1. Tell me about yourself
Ans. 
Experienced Account Executive with a proven track record of exceeding sales targets and building strong client relationships.
• Over 5 years of experience in sales and account management

• Consistently met or exceeded sales targets by 20% each quarter

• Built and maintained strong relationships with key clients such as XYZ Company

• Proficient in CRM software and data analysis tools
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Q2. What is your notice period?
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Q1. Do you know TDS?
Ans. 
Yes, TDS stands for Total Dissolved Solids and refers to the combined content of all inorganic and organic substances contained in a liquid.
• TDS is commonly measured in water quality testing to determine the purity of the water.

• High TDS levels can indicate contamination or the presence of harmful substances.

• TDS can be measured using a TDS meter or through laboratory analysis.
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Q2. Do You know GST? Explain
Ans. 
GST stands for Goods and Services Tax, a value-added tax levied on most goods and services sold for domestic consumption.
• GST is a consumption tax that is imposed on the supply of goods and services in India.

• It is a comprehensive tax levied on the supply of goods and services across the country.

• GST has replaced multiple indirect taxes like VAT, service tax, excise duty, etc.

• It is divided into Central GST (CGST), State G...read more
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Q1. Vlookup in an Excel
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Vlookup is a function in Excel used to search for a value in a table and return a corresponding value from another column.
• Vlookup stands for 'vertical lookup'

• It is used to search for a value in the first column of a table and return a value in the same row from a specified column

• Syntax: =VLOOKUP(lookup_value, table_array, col_index_num, [range_lookup])

• Example: =VLOOKUP(A2, B2:D10, 3, FALSE) - searches for the value in ...read more
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Q2. Pivot table in an Excel
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A pivot table in Excel is a powerful tool that allows you to summarize and analyze large amounts of data in a structured format.
• Pivot tables are used to reorganize and summarize selected columns and rows of data in a spreadsheet or database table.

• They allow you to quickly create reports and analyze trends, patterns, and relationships within your data.

• You can easily group, sort, filter, and calculate data in a pivot tab...read more
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Q1. TELL ME ABOUT YOURSELF
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Q2. ARE YOU COMFORTABLE WITH WAZIRPUR LOCATION
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Q3. WHAT ARE THE 3 GOLDEN RULES OF ACCOUNTING
Ans. 
The 3 golden rules of accounting are the basic principles that guide the recording of financial transactions.
• The first golden rule is the Personal Account rule, which states that 'Debit the receiver, credit the giver'. For example, when a customer pays cash for goods purchased, the cash account is debited and the sales account is credited.

• The second golden rule is the Real Account rule, which states that 'Debit what co...read more
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Q1. WHAT IS BOOK KEEPING
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Bookkeeping is the process of recording, organizing, and maintaining financial transactions of a business.
• Bookkeeping involves recording all financial transactions, such as sales, purchases, and expenses.

• It helps in organizing and categorizing financial data for easy analysis and reporting.

• Bookkeeping ensures accuracy and completeness of financial records.

• It involves tasks like maintaining ledgers, reconciling accounts...read more
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Q2. Where do you live
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It's online test will get link in email.we need to complete it with specific time

Online assessment.need to complete it in 12 mins

Q1. Accounting entries
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Q2. Basic accounting principles
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Q1. Basic accounting principles
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Q1. Basic accounting principles
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Q1. Gst,tds releted question
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Q2. Face to face interview
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Q1. What is your current salary?
Ans. 
I prefer not to disclose my current salary.
• I believe that my salary is not relevant to my qualifications and experience.

• I am open to discussing my salary expectations for this position.

• I am looking for a fair and competitive salary based on industry standards and my skills.
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Q2. How soon can you join us?
Ans. 
I can join within 2 weeks of receiving an offer.
• I need to give my current employer a 2-week notice period.

• I am available to start immediately after that.

• I can use this time to wrap up any pending work and ensure a smooth transition.

• I am flexible and can adjust my start date based on the company's needs.
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