Taxation Interview Preparation Guide
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Taxation job interview questions and answers guideline. Lean Taxation and get preparation for the job of Taxation

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/-
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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.
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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
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4 :: What is er1?

er1 is excise
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6 :: What is LST Number?

LST Number means Local Sale Tax
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7 :: What is rate of vat in raj?

13.5%
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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.
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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.
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