Taxation Interview Preparation Guide
Strengthen your Taxation interview skills with our collection of 90 important questions. Our questions cover a wide range of topics in Taxation to ensure youre well-prepared. Whether youre new to the field or have years of experience, these questions are designed to help you succeed. Secure the free PDF to access all 90 questions and guarantee your preparation for your Taxation interview. This guide is crucial for enhancing your readiness and self-assurance.90 Taxation Questions and Answers:
1 :: If my salary is 21855 per month for financial year April 2011 - march 2012 what tax will be deduct?
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/-
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/-
2 :: If A is purchased Excise Duty paid goods i.e. H.R.Sheet. He want to sell the same as vat bill without excise. It can be possible?
Yes it is Possible. As per excise rules 2002 the same goods
sold to vat bill in his own firm.
sold to vat bill in his own firm.
3 :: Where we show the brought forwarded losses in the Balance Sheet?
Brought forward loss is shown as adjustments under Capital Account and is shown Liability side of Balance Sheet
4 :: What is er1?
er1 is excise
5 :: Suppose Excisable material sold without charging excise duty, Now after 3 months, I am issuing Supplementary bill to party for Excise payment, now please tell me the interest need to pay for this and also is there need to pay interest if i have sufficient amount of cenvate credit balance in these 3 months?
For this you have to pay interest for three month @ 18%
6 :: What is LST Number?
LST Number means Local Sale Tax
7 :: What is rate of vat in raj?
13.5%
8 :: HOW TO FILE TDS/TCS TAX CHALLAN AND WHAT IS THE LAST DATE FOR THIS?
TDS File Challan no.281 last date of challan paid 7th every
month.Return filing Last date before 15th every quarter.
month.Return filing Last date before 15th every quarter.
9 :: Suppose if we are not able to issue F form and Goods transfer treat as deeded sale and want to paid taxes on that sale. but local tax rate is Zero. in above situation I can transfer of goods without F Form and Without paying any tax?
Indirect Tax : CST
10 :: What is the difference between Sales Tax and VAT?
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.
imposed on the retail sale of goods. Unlike VAT, sales tax
is levied on the total value of goods and services
purchased.