Posts

Showing posts from April, 2021

What is Form 16?

  What is Form 16? All About Form 16 ABOUT FORM 16: Form-16 is basically a TDS Certificate issued by the Employer having details of Employee’s Income & Deductions. This Form-16 is needed to be issued mandatorily by the employer to those employees whose TDS is deducted under Sec 192 of Income Tax Act,1961. It is a primary document for filing Return of Income of Employees/Salaried Individuals. FILING OF RETURN OF INCOME WITHOUT FORM 16: As it is compulsorily required to be issued by the Employer in respect of those employees whose TDS has been deducted u/s 192. But TDS u/s 192 is required only if income is more than the Basic Exemption limit (250000), otherwise, there is no requirement of TDS Deduction u/s 192. In this case, where income is less than the basic exemption limit, your employer may not issue you FORM-16. If your salary is liable for TDS deduction due to your income exceeding 2.5 Lakhs & still your employer has not issued you a FORM-16, then there are penalty prov...

Accountant Interview Question 101

 Accountant Interview Question Here is the accountant Interview Question for fresher also as experienced candidates to urge their dream job. 1. Why prefer to account as a profession? Accounting is chosen as a profession because: Become a neighborhood of an in-depth network of execs. Accept or experience a challenging role. Explore new opportunities. Offers all types of career options. 2. What are the talents needed to figure as an accountant? Skills needed to figure as an accountant are: Excellent at math Strong analytical skills Structured work style Aptitude for technology 3. Mention some accounting software you know? The best accounting software is: SAP Oracle NetSuite ERP Sage Business Cloud Accounting Tally ERP primer 4. Mention the difference between SAP Memory and ABAP Memory SAP Memory may be a global user-related memory that extends beyond the limit of transaction. ABAP Memory may be a memory area within each main session and may be accessed by programs using the import-ex...