10+ Tax Analyst Interview Questions and Answers for Freshers

The duty charged on 30 gms of gold bought in London depends on the country's tax laws and regulations.

• The duty charged on gold varies from country to country.

• It is important to consider the tax laws and regulations of the specific country in question.

• Researching the customs and import duties of the destination country is necessary to determine the duty charged on gold.

• Consulting with a tax analyst or customs expert can provide accurate information on duty charges for gold pur...read more

Taxes levied on consumer products include sales tax, excise tax, and value-added tax (VAT).

• Sales tax is a tax on the sale of goods and services and is typically a percentage of the purchase price.

• Excise tax is a tax on specific goods such as tobacco, alcohol, and gasoline.

• VAT is a tax on the value added at each stage of production and distribution.

• Other taxes may include import duties, luxury taxes, and environmental taxes.

• Examples of consumer products subject to these taxes ...read more

The currency value of Dinar in INR is constantly changing due to various factors.

• The Dinar is the currency of several countries, including Iraq, Libya, and Serbia.

• The exchange rate between the Dinar and INR is influenced by factors such as political stability, economic growth, and global market trends.

• As of August 2021, 1 Iraqi Dinar is equal to approximately 0.062 INR.

Custom rates levied on imports vary by country and product.

• Custom rates are determined by the importing country's government.

• Rates can be specific (based on quantity) or ad valorem (based on value).

• Some countries have preferential rates for certain trading partners.

• Examples of products with high custom rates include tobacco and alcohol.

• Custom rates can change frequently due to trade agreements and political factors.

Globalization has led to environmental hazards such as pollution, deforestation, and climate change.

• Increased transportation of goods and people leads to higher emissions of greenhouse gases

• Companies often exploit natural resources in developing countries without regard for the environment

• Global trade has led to the spread of invasive species and diseases

• Increased consumption and waste generation leads to more pollution and landfills

• Deforestation for agricultural purposes and...read more

Tax liability for income of 1400000 needs to be calculated.

• Determine the tax bracket based on the income level

• Calculate the tax amount based on the tax rates for each bracket

• Consider any deductions or credits that may apply

Deemed supply refers to transactions that are treated as supplies even though no actual supply has taken place.

• Deemed supply can include situations where goods or services are transferred without consideration, or when a business owner uses goods or services for personal use.

• Examples of deemed supply include gifts or samples given by a business, self-consumption of goods by a business owner, and transfers of assets between related parties.

• Deemed supply rules vary by jurisdict...read more

Financial ratios formula are used to analyze a company's financial performance and health.

• Financial ratios are calculated using data from a company's financial statements.

• Common financial ratios include profitability ratios, liquidity ratios, and solvency ratios.

• Examples of financial ratios include return on assets (ROA), current ratio, and debt-to-equity ratio.

The 5 heads of income are salary, house property, business or profession, capital gains, and other sources.

• Salary income includes income from employment, bonuses, commissions, etc.

• House property income includes rental income from properties owned by the taxpayer.

• Business or profession income includes income from running a business or providing professional services.

• Capital gains income includes profits from the sale of capital assets like stocks, real estate, etc.

• Other source...read more