CA Articleship

CA Articleship Interview Questions and Answers

Updated 17 Sep 2022

Q1. What are the headlines of writting article's memory?

Ans.

Headlines of writing article's memory

Ans.

I am currently writing articles related to taxation and audit for my CA Articleship.

I am gaining practical experience in tax planning and compliance
I am learning how to conduct audits and prepare financial statements
I am also studying relevant laws and regulations
Examples of articles I have written include 'Impact of GST on Small Businesses' and 'Audit Procedures for Inventory Management'

Ans.

Short term capital gains on equity shares are taxable.

Short term capital gains on equity shares are taxed at a rate of 15%.
Short term capital gains are gains made on the sale of equity shares held for less than 1 year.
The gains are added to the individual's total income and taxed accordingly.
However, if the individual has incurred short term capital losses, they can be set off against the gains.
If the losses exceed the gains, the remaining loss can be carried forward for up t...read more

Ans.

AS11 requires entries for monetary and non-monetary transactions.

For monetary transactions, record the exchange rate at the transaction date.
For non-monetary transactions, record the fair value of the asset given or received.
Monetary transactions are recorded at the exchange rate on the transaction date.
Non-monetary transactions are recorded at the fair value of the asset given or received.
If the fair value cannot be determined, use the carrying amount of the asset given up.
I...read more

Are these interview questions helpful?

Ans.

GST has benefited the Indian economy by simplifying the tax structure, increasing revenue, and promoting ease of doing business.

GST has replaced multiple indirect taxes with a single tax, making the tax structure simpler and more transparent.
It has increased revenue for the government, which can be used for infrastructure development and social welfare programs.
GST has also promoted ease of doing business by reducing the compliance burden for businesses.
It has led to the form...read more

Ans.

DDT rate is arrived at by applying a flat rate of 15% on the dividend declared by the company.

DDT stands for Dividend Distribution Tax
It is a tax levied on the dividend paid by a company to its shareholders
The rate of DDT is fixed at 15% by the government
The DDT is deducted by the company before distributing the dividend to its shareholders
The DDT is paid by the company and not by the shareholders

Share interview questions and help millions of jobseekers 🌟

Ans.

My first article was on the topic of 'Goods and Services Tax (GST)'

Ans.

The new tax regime under Budget is an optional tax system with lower tax rates but without exemptions and deductions.

The new tax regime was introduced in the Budget 2020.
It offers lower tax rates but without exemptions and deductions.
Taxpayers can choose between the old and new tax regimes every year.
The new tax regime is beneficial for taxpayers who do not claim many deductions and exemptions.
The old tax regime is beneficial for taxpayers who claim many deductions and exempt...read more