Corporate and International tax Questions
When appearing for Interviews for Direct Taxation, the most important thing apart from having Conceptual knowledge is to beware of Recent Amendments because most of the questions will be from those only.
When appearing for Interviews for Direct Taxation, the most important thing apart from having Conceptual knowledge is to beware of Recent Amendments because most of the questions will be from those only.
DT Interview Questions {Inclusive List}
1. Tell me about a particular concept or section of Income Tax which you appreciate.
2. Have you heard of TDS to be deducted Business or Profession on issuing any advantage/perquisite to individual? If yes then why such introduction is made. Discuss on the applicability
3. You would have heard about taxation of Crypto currencies most appropriately Virtual digital asset. How Govt. is planning to catch hold of such transactions? Are you aware of any such amendments to the Act?
4. W.e.f from July 2021 Sec 194Q was introduced where buyer will have to deduct TDS on high value purchase from specific seller. Do you know why such amendment has been made? Discuss regarding the provisions of the section
5. Explain the concept of Marginal Relief and how it is calculated.
6. You may be asked to calculate tax liability and provided some figures and its going to be tricky one and not a straightforward question.
7. Does the benefit of rebate u/s 87A applicable to Firm / Non Resident / Company?
8. Is the enhanced surcharge applicable to LTCG in case of Unlisted equity shares?
9. If you have LTCG, can you deduct it with amount invested in PPF u/s 80C?
10. For how many years unabsorbed depreciation and business losses be carried forward?
11. Differenciate between Tax planning & Tax evasion?
12. Penalty for misreporting of Income?
13. At what rate unexplained income (u/s 68 to 69D) taxed as per sec 115BBE.
14. Rates and applicability of sec 115BAA, 115BAB, 115BAC
15. Logic behind Grandfathering clause.
16. Explain Vodafone case .
17. Some set off and carry forward question in which there is a change of ownership
18. Different b/w professional service and technical services
19. What all you know about Sec 43A & 43AA
20. Interpretation of sec 234C
21. Provisions of Sec 80M
For taxation profile, you will also be asked asked more of International Taxation Questions.
1. What are the Methods for computing ALP along with examples
2. Difference b/w primary and secondary adjustment
3. Roll back provisions in case of merger and demerger
4. Difference between POEM and PE. What are the types of PE
5.What do you know about Internal transfer pricing
6. Difference between DRT & CIT(A)
7. Advance tax provision
8. What are most recent changes in assessment procedure
9. What do you know about Faceless assessment
10. Recent Amendment in sec 147
11. About Advance Ruling
12. About DTAA
13. Why Equalization levy introduced?
14. Recent judgements
Bonus Tips
*You need to be thorough with logics
*They won't ask plain provision. DT being very vast its not possible for remembering each and every rate and provision but you should be aware of logics behind the provisions.
*BEPS, tax treaties, model tax convention are important chapters for interview.
*BEPS, tax treaties, model tax convention are important chapters for interview.
*Litigation if u have done please have a good knowledge (Proper discussion possible)
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