TFPL Finance Manager Interview Questions and Answers

Various types of taxes under GST include CGST, SGST, IGST, and UTGST.

• Central Goods and Services Tax (CGST) - levied by the central government on intra-state supplies of goods and services

• State Goods and Services Tax (SGST) - levied by the state government on intra-state supplies of goods and services

• Integrated Goods and Services Tax (IGST) - levied by the central government on inter-state supplies of goods and services

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Key aspects of income tax include tax rates, deductions, credits, filing deadlines, and tax planning.

• Tax rates vary based on income levels, with higher incomes typically taxed at higher rates.

• Deductions such as mortgage interest, charitable contributions, and medical expenses can reduce taxable income.

• Tax credits directly reduce the amount of tax owed, such as the Child Tax Credit or Earned Income Tax Credit.

• Filing dea...read more

Golden rules of account are basic principles that guide the recording of financial transactions.

• Golden rule of account is Debit the receiver, Credit the giver.

• Real accounts are debited when receiving benefits and credited when giving benefits.

• Nominal accounts are debited when expenses or losses are incurred and credited when incomes or gains are earned.

• Personal accounts are debited when the receiver is the account hold...read more