Accounts & Taxation Executive

Accounts & Taxation Executive Interview Questions and Answers

Updated 22 Aug 2024
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Q1. Introduce yourself, What is GST ?, Explain the GST Reconciliation process, Due Dates of GST return filing ?

Ans.

Introduction, explanation of GST and its reconciliation process, and due dates of GST return filing.

  • Introduce yourself briefly, highlighting your experience in accounts and taxation.

  • GST stands for Goods and Services Tax, a unified tax system implemented in India in 2017.

  • GST reconciliation process involves matching the data uploaded by the supplier with the data uploaded by the recipient, and making necessary adjustments.

  • Due dates for GST return filing vary based on the type o...read more

Q2. TDS working filing dates ? Sections and brief decryption about it ?

Ans.

TDS working filing dates and sections with brief decryption.

  • TDS stands for Tax Deducted at Source.

  • TDS is deducted from the income of the recipient and deposited with the government.

  • The due date for filing TDS returns is 31st July for Q1, 31st October for Q2, 31st January for Q3, and 31st May for Q4.

  • Section 192 deals with TDS on salary, Section 194 deals with TDS on dividends, and Section 194C deals with TDS on contractors.

  • The rate of TDS varies depending on the type of paymen...read more

Q3. How to improve organization financial structure?

Ans.

Improving financial structure requires proper planning, budgeting, and monitoring.

  • Create a detailed financial plan with clear goals and objectives.

  • Develop a budget that aligns with the financial plan and regularly review and adjust it as needed.

  • Implement effective financial controls to monitor spending and prevent fraud.

  • Invest in technology and tools that can streamline financial processes and improve accuracy.

  • Regularly analyze financial data to identify areas for improvement...read more

Q4. What is you know about account profile?

Ans.

An account profile is a summary of an individual or organization's financial transactions and status.

  • An account profile includes information such as income, expenses, assets, and liabilities.

  • It is used to track financial activity and make informed decisions about budgeting and investments.

  • Examples of account profiles include bank statements, credit reports, and tax returns.

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Q5. What is advance tax? What is tds

Ans.

Advance tax is the tax paid in advance on estimated income for the current financial year. TDS is tax deducted at source.

  • Advance tax is paid in installments throughout the year.

  • It is applicable to individuals, companies, and firms.

  • TDS is deducted by the payer at the time of making payment.

  • It is applicable to various types of payments such as salary, rent, and professional fees.

  • TDS rates vary depending on the nature of payment and the recipient's status.

  • Both advance tax and TD...read more

Q6. Know about any accounting software?

Ans.

Some popular accounting software include QuickBooks, Xero, and FreshBooks.

  • QuickBooks is widely used for small businesses and offers features like invoicing, expense tracking, and financial reporting.

  • Xero is known for its user-friendly interface and strong bank reconciliation capabilities.

  • FreshBooks is popular among freelancers and offers features like time tracking, project management, and invoicing.

  • Other options include Wave, Sage, and Zoho Books.

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