Assistant Manager Tax Interview Questions And Answers

Monthly salary = 21855
annual salary = 21855*12 = 262260/-
as per India TDS rule on TDS will be deducted on annual salary
=>180000
so total annual salary 262260-180000 = 82260/-
TDS 82260*10.3% = 8472.78/-
and per month = 706/-

Yes it is possible. but that incoming excise invoice not take credit our RG23 A PATR II & not mentioned in rg23 a part i also.
we are ganerate commercial bill without excise duty.

Meaning of Er1 is - Excise Return 1
this form submit in mfg unit every 10th next month last month all details mentioned in form as like Finished goods opening, mfg, clearance, closing, sale value excise duty, payable duty, credt details, closing bal. total details mentioned in form submit to excise office.

13.5%

LST Number means Local Sale Tax.

For this you have to pay interest for three month @ 18%.

Brought forward loss is shown as adjustments under Capital Account and is shown Liability side of Balance Sheet.

Sales tax, as compared to VAT is the percentage of revenue imposed on the retail sale of goods. Unlike VAT, sales tax is levied on the total value of goods and services purchased.

X Co.in Maharastra place order to Y Co in Kerala for a
material and Y Co.in Kerala Place order for that material
to Z Co. in Chennai and inform to supply directly to X in
Maharashtra .Here X is purchaser of Y and Y is the
purchaser of Z and Y asking Z to give the ownersp of
material to X insted of Y.Thais is sale in transit.Here
Consiner is Z and Consinee is X.Here other than C form
there is E-i and E-11 form also.Y purchaser of Z will give
C form to Z in exchange of E-1 and Y the seller of X will
get C form from X the purchaser.if X sells that matrl to A
in Maharashtra and give A E-II form and should charge 0%
tax.this is to avoid double taxation.

Governments use taxation to encourage or discourage certain economic decisions. For example, reduction in taxable personal (or household) income by the amount paid as interest on home mortgage loans results in greater construction activity, and generates more jobs.

The taxation without representation refers to the inhabitants of the colonies being taxed by the government despite not having a representative government official to express the views of the citizens of the colonies.

Effects on accounting taxation is the appropriation of income taxes during the time the taxes incurred instead of when the taxes need to be paid.

Taxation is a mean by which governments finance their expenditure by imposing charges on citizens and corporate entities.

Indirect Tax : CST

The levy and collection of property tax on lands and buildings. Property taxation is levied on lands and buildings declared as rating areas by the government. Property Taxation is one of the major taxes collected by the department.

The aim of the "Taxation papers" is twofold:
☛ To facilitate the spreading of the analysis of the Commission's Taxation and Customs Union.
☛ To contribute to the debate on taxation in the European Union.

Infrastructure Cess tax regime is applicable to all the goods entering the province through sea or air. A Cess @ 0.85% (@0.125% of Gold only) is levied on the C and F value of goods as determine by the customs department.

These include:
Adequacy
Broad Basing
Compatibility
Convenience
Earmarking
Efficiency
Equity
Neutrality
Predictability
Restricted exemptions
Simplicity

Taxes should be just enough to generate revenue required for provision of essential public services.

Taxes should be spread over as wide as possible section of the population or sectors of economy, to minimize the individual tax burden.

Taxes should be coordinated to ensure tax neutrality and overall objectives of good governance.

Taxes should be enforced in a manner that facilitates voluntary compliance to the maximum extent possible.

Tax revenue from a specific source should be dedicated to a specific purpose only when there is a direct cost and benefit link between the tax source and the expenditure, such as use of motor fuel tax for road maintenance.

Tax collection efforts should not cost an inordinately high percentage of tax revenues.

Taxes should not favor any one group or sector over another and should not be designed to interfere-with or influence individual decisions making.