CA Articleship Interview Questions and Answers

Headlines of writing article's memory

• Understanding the topic

• Researching and gathering information

• Organizing the information

• Creating an outline

• Writing the article

• Proofreading and editing

• Submitting the article

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'

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

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

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

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

• I researched and wrote about the basics of GST

• I explained the different types of GST and their rates

• I discussed the benefits and challenges of GST implementation

• I analyzed the impact of GST on various sectors of the economy

• I provided examples of how GST works in practice

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