Senior Accounts Assistant
Senior Accounts Assistant Interview Questions and Answers
Q1. what do you know about 194Q TDS?
194Q TDS is a provision under the Income Tax Act where TDS is deducted on payment made to resident contractors and professionals.
194Q TDS applies to individuals and HUFs who are not required to get their accounts audited.
TDS is deducted at the rate of 1% on payment exceeding Rs. 50 lakhs in a financial year.
The deductor is required to obtain the Tax Deduction and Collection Account Number (TAN) and file TDS returns.
Non-compliance with 194Q TDS provisions can attract penalties...read more
Q2. tell me the asset laibilty details
Asset liability details refer to the financial obligations and resources of a company.
Assets are the resources owned by a company, such as cash, inventory, and property.
Liabilities are the financial obligations of a company, such as loans, accounts payable, and salaries payable.
The balance sheet is used to report the asset and liability details of a company.
The difference between assets and liabilities is known as equity or net worth.
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