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Deloitte Tax Consultant Interview Questions and Answers
27 Interview questions
Reconciliation is the process of ensuring that two sets of records are in agreement, often used in accounting and finance.
Financial Reconciliation: Comparing bank statements with company records to ensure all transactions match, identifying discrepancies.
Account Reconciliation: Ensuring that the balances in a company's general ledger match the balances in subsidiary accounts, like accounts payable.
Tax Reconciliati...
Direct taxes are paid directly by individuals or organizations, while indirect taxes are levied on goods and services.
Direct taxes are based on income or profit, e.g., income tax, corporate tax.
Indirect taxes are included in the price of goods/services, e.g., sales tax, VAT.
Direct taxes are progressive, meaning higher earners pay a higher rate.
Indirect taxes are regressive, affecting lower-income individuals more ...
I excel at email writing, ensuring clarity, professionalism, and effective communication tailored to the recipient's needs.
I always start with a clear subject line, e.g., 'Tax Filing Deadline Reminder'.
I maintain a professional tone, using appropriate greetings and closings.
I structure my emails with bullet points for easy readability, especially when outlining tax regulations.
I ensure to proofread for grammar and...
Intrastat is a system for collecting statistics on the trade of goods between EU member states, while EUSL is a simplified version of Intrastat for small businesses.
Intrastat is mandatory for businesses that exceed a certain threshold of intra-EU trade, while EUSL is optional for smaller businesses.
Intrastat requires detailed reporting of goods traded, including value, quantity, and country of origin/destination, ...
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Yes, negative values can be reported in ESPL.
Negative values can be reported in ESPL for expenses, losses, or deductions.
Make sure to follow the specific guidelines and formatting requirements for reporting negative values in ESPL.
Examples of negative values that can be reported in ESPL include -1000 for expenses or -500 for losses.
Deferred tax is a liability or asset that arises from the difference between accounting income and taxable income.
Deferred tax is the tax effect of temporary differences between accounting income and taxable income.
It can be a liability if taxable income is greater than accounting income, or an asset if the reverse is true.
Examples include depreciation expenses and revenue recognition timing differences.
Deferred t...
Shaktikanta Das is the current RBI Governor.
Shaktikanta Das was appointed as the 25th Governor of the Reserve Bank of India in December 2018.
He has previously served as the Economic Affairs Secretary and Revenue Secretary of India.
As RBI Governor, he has focused on maintaining financial stability and supporting economic growth.
A project requires clear goals, a defined scope, a timeline, a budget, a team, communication, risk management, and monitoring.
Clear goals: Define the objectives and outcomes of the project.
Defined scope: Clearly outline what is included and excluded from the project.
Timeline: Establish a schedule with milestones and deadlines.
Budget: Determine the financial resources needed for the project.
Team: Assemble a skilled...
Prepaid expenses are expenses paid in advance but not yet incurred, requiring a journal entry to recognize them as assets.
Prepaid expenses are recorded as assets on the balance sheet until they are used up.
To record a prepaid expense, debit the prepaid expense account and credit the cash or accounts payable account.
As the prepaid expense is used up, it is recognized as an expense on the income statement.
Examples o...
Rate of depreciation on intangible assets varies based on their useful life and method of amortization.
Depreciation on intangible assets is typically calculated using the straight-line method.
The rate of depreciation can range from 5% to 100% depending on the useful life of the asset.
Common intangible assets subject to depreciation include patents, copyrights, and trademarks.
Deloitte Tax Consultant Interview Experiences
72 interviews found
ASHLEY ALEXANDER
Selected
I applied via Referral and was interviewed in Aug 2024. There were 3 interview rounds.
I had applied for the Canada Tax Consultant Role and the first round was the Versant and Aptitude test. First, HR called me for a basic discussion and informed me about the test rounds. The Versant round tested my English speaking, listening, and reading skills. After the Versant round, I took the aptitude test which had three sections - Logical reasoning, Accounting (including journal entries and B.Com related questions), and Excel-related questions.
(4 Questions)
- Q1. Tell me about yourself, and your family
- Ans.
I am a tax consultant with a passion for helping clients navigate complex tax laws. My family is supportive and close-knit.
I have been working as a tax consultant for the past 5 years
I specialize in corporate tax planning and compliance
My family consists of my parents, my spouse, and two children
We enjoy spending quality time together on weekends
- Q2. Asked about my job roles in my previous company
- Q3. How did you cope with the previous tax season, and how many hours did you work last tax season?
- Ans.
I coped with the previous tax season by managing my time effectively and working long hours when necessary.
I prioritized tasks and created a schedule to ensure all deadlines were met
I communicated effectively with clients to gather necessary information in a timely manner
I worked an average of 60 hours per week during the tax season
I made sure to take breaks and practice self-care to avoid burnout
- Q4. Why are you leaving your current company
- Ans.
Seeking new opportunities for professional growth and development.
Looking for new challenges and opportunities to expand my skills
Interested in exploring different areas of tax consulting
Seeking a company with better career advancement opportunities
(3 Questions)
- Q1. Tell me about yourself and your family and also about your friends.
- Ans.
I am a tax consultant with a loving family and a close-knit group of friends.
I am a tax consultant by profession
I have a supportive and loving family
I have a close group of friends who I enjoy spending time with
- Q2. Have you done any extracurricular activities during your college
- Ans.
Yes, I was actively involved in the finance club and volunteered for tax preparation workshops.
Participated in finance club activities
Volunteered for tax preparation workshops
Organized fundraising events for charity
Attended seminars on tax laws and regulations
- Q3. What is your Hobby?
- Ans.
My hobby is photography. I love capturing moments and exploring different perspectives through my camera lens.
I enjoy experimenting with different lighting techniques
I like to explore new locations and find unique angles for my shots
I often participate in photography contests and exhibitions
Interview Preparation Tips
Anonymous
I applied via Campus Placement and was interviewed in Jul 2024. There were 3 interview rounds.
(2 Questions)
- Q1. About yourself and your resume
- Q2. Why deloitte Where do you see yourself in 5 years
- Ans.
I chose Deloitte for its reputation for excellence in tax consulting. In 5 years, I see myself as a senior tax consultant leading a team.
Deloitte's reputation for excellence in tax consulting
Opportunities for growth and development at Deloitte
Desire to become a senior tax consultant and lead a team
Commitment to continuous learning and professional development
Building strong client relationships and delivering high-qual...
(2 Questions)
- Q1. Journal enteries based questions
- Q2. Behavioural questions
(2 Questions)
- Q1. Journal entery based questions
- Q2. Behavioural based questions
Samarth Jain
It was easy to crack aptitude test but cracking versent test was not easy.
(2 Questions)
- Q1. Is depriciation charged on land?
- Ans.
No, depreciation is not charged on land as land is considered to have an indefinite useful life.
Depreciation is only charged on assets with a limited useful life, such as buildings, machinery, vehicles, etc.
Land is considered to have an indefinite useful life and its value is not expected to decrease over time.
The cost of land is not depreciated, but any improvements made on the land, such as buildings or landscaping, ...
- Q2. Effect of cost incured on setting up plant and machinery
- Ans.
Cost incurred on setting up plant and machinery can have tax implications on depreciation and capitalization.
Cost incurred on setting up plant and machinery is usually capitalized and depreciated over its useful life.
The depreciation expense can be deducted from taxable income, reducing the tax liability.
Certain costs may need to be expensed immediately instead of being capitalized, such as repairs and maintenance.
Tax ...
I applied via Walk-in and was interviewed in Aug 2024. There were 3 interview rounds.
It was not that easy
(2 Questions)
- Q1. What is deferred tax
- Ans.
Deferred tax is a liability or asset that arises from the difference between accounting income and taxable income.
Deferred tax is the tax effect of temporary differences between accounting income and taxable income.
It can be a liability if taxable income is greater than accounting income, or an asset if the reverse is true.
Examples include depreciation expenses and revenue recognition timing differences.
Deferred tax li...
- Q2. Journals entries
(2 Questions)
- Q1. Situation based question
- Q2. Who is the rbi governor
- Ans.
Shaktikanta Das is the current RBI Governor.
Shaktikanta Das was appointed as the 25th Governor of the Reserve Bank of India in December 2018.
He has previously served as the Economic Affairs Secretary and Revenue Secretary of India.
As RBI Governor, he has focused on maintaining financial stability and supporting economic growth.
Interview Preparation Tips
- joornal entries
- Taxation
I applied via Naukri.com and was interviewed in Jul 2024. There was 1 interview round.
(3 Questions)
- Q1. Tell me about yourself
- Q2. Work experience in detail
- Ans.
Experienced tax consultant with a strong background in tax planning, compliance, and client advisory services.
Over 5 years of experience in tax consulting for individuals and small businesses.
Managed tax compliance for over 100 clients, ensuring timely and accurate filings.
Developed tax strategies that saved clients an average of 15% on their tax liabilities.
Conducted thorough tax research to stay updated on changing r...
- Q3. Project Management cycle, what is required for a project?
- Ans.
A project requires clear goals, a defined scope, a timeline, a budget, a team, communication, risk management, and monitoring.
Clear goals: Define the objectives and outcomes of the project.
Defined scope: Clearly outline what is included and excluded from the project.
Timeline: Establish a schedule with milestones and deadlines.
Budget: Determine the financial resources needed for the project.
Team: Assemble a skilled and ...
Selected
I appeared for an interview in Feb 2025, where I was asked the following questions.
- Q1. Introduction- About you
- Q2. Why we should hire you?
- Ans.
I bring extensive tax knowledge, strong analytical skills, and a commitment to client success, making me an ideal candidate for your team.
Proven track record of helping clients save on taxes through strategic planning and deductions.
Strong analytical skills demonstrated by successfully identifying tax-saving opportunities for clients in previous roles.
Excellent communication skills, allowing me to explain complex tax c...
- Q3. Direct and Indirect tax difference
- Ans.
Direct taxes are paid directly by individuals or organizations, while indirect taxes are levied on goods and services.
Direct taxes are based on income or profit, e.g., income tax, corporate tax.
Indirect taxes are included in the price of goods/services, e.g., sales tax, VAT.
Direct taxes are progressive, meaning higher earners pay a higher rate.
Indirect taxes are regressive, affecting lower-income individuals more as th...
- Q4. Depreciation and its types
- Ans.
Depreciation is the allocation of an asset's cost over its useful life, reflecting wear and tear.
Straight-Line Depreciation: Equal expense each year (e.g., a $10,000 asset over 5 years = $2,000/year).
Declining Balance Depreciation: Higher expense in early years (e.g., 200% declining balance on a $10,000 asset).
Units of Production Depreciation: Based on usage (e.g., a machine that produces 10,000 units over its life).
Su...
- Q5. Journal entry- outstanding rent
I applied via Campus Placement
(2 Questions)
- Q1. What is Leadership to you?
- Ans.
Leadership is the ability to inspire, guide, and influence others towards achieving common goals while fostering a positive environment.
Visionary Thinking: A leader sets a clear vision for the team, like a project manager outlining the goals for a successful project.
Empowerment: Great leaders empower their team members by delegating responsibilities, similar to how a coach trusts players to make decisions during a game...
- Q2. Difference between Manager and Leader
- Ans.
Managers focus on processes and tasks, while leaders inspire and motivate teams towards a shared vision.
Focus on Tasks vs. Vision: Managers prioritize task completion and efficiency, while leaders emphasize a long-term vision. For example, a manager may ensure deadlines are met, whereas a leader might inspire the team to innovate and think creatively.
Authority vs. Influence: Managers often rely on their positional auth...
(2 Questions)
- Q1. Journal entry for prepaid expenses?
- Ans.
Prepaid expenses are expenses paid in advance but not yet incurred, requiring a journal entry to recognize them as assets.
Prepaid expenses are recorded as assets on the balance sheet until they are used up.
To record a prepaid expense, debit the prepaid expense account and credit the cash or accounts payable account.
As the prepaid expense is used up, it is recognized as an expense on the income statement.
Examples of pre...
- Q2. Rate of Depreciation on Intangible assets?
- Ans.
Rate of depreciation on intangible assets varies based on their useful life and method of amortization.
Depreciation on intangible assets is typically calculated using the straight-line method.
The rate of depreciation can range from 5% to 100% depending on the useful life of the asset.
Common intangible assets subject to depreciation include patents, copyrights, and trademarks.
Interview Preparation Tips
I applied via Campus Placement and was interviewed in Aug 2024. There was 1 interview round.
(2 Questions)
- Q1. Jake is a bachelor so how many wives is he has?
- Q2. Rephrase the story after hearing Ai British ascent voice with in 20 sec
Interview Preparation Tips
40 questions were asked from Accounting , logical reasoning & excel questions
(2 Questions)
- Q1. Tell me about yourself
- Q2. Why do you want to join Deloitte
Selected
I appeared for an interview in Nov 2024, where I was asked the following questions.
- Q1. What is your understanding of reconciliation?
- Ans.
Reconciliation is the process of ensuring that two sets of records are in agreement, often used in accounting and finance.
Financial Reconciliation: Comparing bank statements with company records to ensure all transactions match, identifying discrepancies.
Account Reconciliation: Ensuring that the balances in a company's general ledger match the balances in subsidiary accounts, like accounts payable.
Tax Reconciliation: V...
- Q2. About microsoft office and outlook
Deloitte Interview FAQs
Some of the top questions asked at the Deloitte Tax Consultant interview -
The duration of Deloitte Tax Consultant interview process can vary, but typically it takes about less than 2 weeks to complete.
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