Interview Questions Answers in Taxation, Banking Finance, Accounting AllOther, SAP FI-CO (Financial Accounting & Controlling), Industrial Management

Question { Alps, 71931 }

please Clarify between TR-6 and gar-7 challan.

Answer

T.R-6 IS USED FOR FILLING THE SERVICE TAX RETURNS WHERE AS
G.A.R -7 IS USED TO MAKE EXERCISE & SERVICE TAX PAYMENTS

Is This Answer Correct ?

0 Yes

4 No

Question { RCC Laboratories India Private Limited, 108721 }

Is VAT & CST should be charged on Freight charges or not.

Answer

vat is a value added tax which is leived in case of
manufacturing & cst is leivied when inter or intra state
transaction is made on freight charge vat &cst is not
caluculated but freight was related to service so service
tax is caluculated on it

Is This Answer Correct ?

119 Yes

70 No

Question { 6992 }

what is direct incom

Answer

the income which is derived from the business will be
treated as direct income as according to income tax
slab (or) flat rates

Is This Answer Correct ?

3 Yes

2 No

Question { Inabensa, 213593 }

What is WCT? On Which it is calculated?

Answer

generally w.c.t is caluculated on the contract works
the rate of tax is 4.12%

Is This Answer Correct ?

186 Yes

167 No

Question { 11389 }

What is paidup capital and why should the org increase the
paid up capital?

Answer

paid up capital is the capital which is paid by the
shareholder to the company like 1st call 2nd call,3rd call
the increasing of the paid up capital cannot be raised as it
self before increasing the paid up capital of a company it
should be informed to memorandum of association and make
necessary changes the organization could increase the paid
up capital as it was in profits then only paid up capital
could beincreased

Is This Answer Correct ?

2 Yes

0 No

Question { Apex, 31001 }

What is the applicable rate of service tax on work of
construction company i.e. real estate developer company plz
improve my knowledge about it.

Answer

service tax is the tax collected on all service providers
generally the rate of service tax percentage is 12.36%
12% is service tax & .36% is e.d cess and for the
construction companies w.c.t is applicable and the rate of
w.c.t is 4.5%

Is This Answer Correct ?

39 Yes

35 No

Question { BA Continnum Solutions, 6204 }

WHAT IS 'MORTGAGE AND REVERSE MORTGAGE'?

Answer

mortgage is nothing but mortgaging the vehicle with
financier and availing a loan

Is This Answer Correct ?

4 Yes

4 No

Question { BA Continnum Solutions, 6343 }

WHAT IS CONTINGENTI ASSESTS AND LIABILITIES?

Answer

contingent asset is nothing but it is an asset which will be
giving benefit in future years
eg - given an add result will receive in future

contingent liability in simple word we can say it might be
neither asset nor liability . The decession may be in
favour of you or not if it is in favour of you it is an
asset if not it is an liability

Is This Answer Correct ?

3 Yes

3 No

Question { Bank Of America, 9544 }

WHAT IS 'ABSORPTION AND CONSOLIDATION'?

Answer

THERE ARE THREE STAGES WHEN COMPANY IS CLOSED
AMALGMATION
ABSORPTION
RECONSTRUCTION
ABSORPTION MEANS NOTHING BUT THE BIG COMPANY TAKING UP
SMALL COMPANY
CONSOLIDATION IS NOTHING CLUBBING OF DATA IS CALLED
CONSOLIDATION

Is This Answer Correct ?

29 Yes

5 No

Question { 11350 }

what is the rate of taxes for works contract

Answer

actually the rate of work s contract for contractors is4.12%
according to my knowledge let me know if any changesare
there

Is This Answer Correct ?

20 Yes

8 No

Question { HCL, 18641 }

What is the architectural diagram of SAP FICO?

Answer

sap fico r/3 managment is of three tier architecture
where we will be having three layers
1. presentation layer-which inputs the data
2. application layer- which converts the data in to
computer language
3. database layer- which stores the data

and ther are also three types of environments
1. production environ ment
2. quality environment
3.

structural diagram of three tier architecture

diagram cannot be drawn here

Is This Answer Correct ?

11 Yes

4 No

Question { 21308 }

what is Direct and Indirect Tax? can any body tell me with
example.

Answer

direct tax is nothing but the tax which is paid to the govt
directly eg- income tax

indirect tax is the tax which is paid to the govt indirectly
eg-vat, cst, excise

Is This Answer Correct ?

48 Yes

3 No

Question { Genpact, 11185 }

What is the differnce between funds flow & Cash flow?

Answer

The funds flow statement mainly explains about the sources
which means the different sources of getting the income
application of funds means the funds are going out from our
hands. this it will explain clearly in funds flow statement
and one of the most imp financial statement

Cash flow statement clearly explains how the cash is going
to invest in different activities.

Is This Answer Correct ?

2 Yes

0 No

Question { TCS, 28689 }

What is Balance Sheet?

Answer

Balance sheet means it is a combination of assets and
liabilities and it shows the what are the assets and
liabilities during the particular period of time with we can
think how the company is performing.

"Balance sheet which describes the financial position of a company"

Is This Answer Correct ?

0 Yes

0 No

Question { 4250 }

A. Do you think there is a need for multilateral
investment agreement? Give reasons.
B. Distinguish between Foreign Direct Investment and
Portfolio Investment.

Answer

foreign direct investment is the investment in which
invested in the foreign companies and portfolio investment
is the ivvestment which is invested in different types
of investments eg- debtfunds, money market funds

Is This Answer Correct ?

1 Yes

1 No

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