Finance & Accounts Interview Questions and Answers

Yes, I am familiar with GST, bookkeeping, TDS due dates, Excel, VLOOKUP, and pivot tables.

• I have experience in maintaining books of accounts and preparing financial statements in compliance with GST regulations.

• I am well-versed in TDS provisions and due dates for filing TDS returns.

• I have expertise in using Excel for financial analysis, data management, and reporting.

• I am proficient in using VLOOKUP and pivot tables for data analysis and presentation.

• I keep myself updated wit...read more

Option to increase working capital includes increasing sales, reducing expenses, obtaining loans, and selling assets.

• Increasing sales through marketing and promotions

• Reducing expenses by cutting unnecessary costs

• Obtaining loans from banks or investors

• Selling assets such as property or equipment

• Improving inventory management to reduce stockouts and increase turnover

• Negotiating better payment terms with suppliers

• Implementing cost-saving measures such as energy-efficient equipme...read more

TDS rates are tax rates applicable for Tax Deducted at Source. The threshold limit for deduction of TDS varies based on the type of payment.

• TDS rates are the rates at which tax is deducted at source from various types of payments.

• The threshold limit for deduction of TDS differs for different types of payments.

• For example, the threshold limit for deduction of TDS on salary payment is different from the threshold limit for deduction of TDS on rent payment.

• TDS rates and threshol...read more

Final account is a financial statement that summarizes a company's financial performance for a specific period.

• Final accounts include the trading account, profit and loss account, and balance sheet.

• The trading account shows the gross profit or loss of the business.

• The profit and loss account shows the net profit or loss of the business.

• The balance sheet shows the financial position of the business at a specific point in time.

• Final accounts are prepared at the end of the accou...read more

TDS stands for Tax Deducted at Source. It is a tax deduction made at the time of payment to the recipient.

• TDS is deducted by the payer and deposited with the government on behalf of the payee.

• It is applicable on various types of payments like salary, interest, commission, rent, etc.

• The rate of TDS varies based on the nature of payment and the tax laws.

• TDS certificates are issued to the payee as proof of tax deduction.

• The payee can claim credit for the TDS amount deducted whil...read more