Accounts and Finance Interview Questions and Answers: Accountant, GST, TDS
Preparing for an accountant, accounts executive or finance analyst interview in India? This guide lists the accounting, GST and TDS questions asked most often, sample answers, the Excel test you may get, and how freshers (B.Com, M.Com, CA Inter) and experienced candidates should prepare.
Accounts and finance interview rounds
- Technical round: accounting entries, reconciliations, GST and TDS, month-end closing and the software you have used.
- Practical test: often a short Excel task (VLOOKUP or XLOOKUP, pivot tables, SUMIFS) or passing journal entries for given transactions.
- Round with the finance manager or CFO: accuracy, deadlines, audits and how you work with other teams.
- HR round: notice period, current and expected CTC, and any gap in exams or employment.
How freshers should prepare
- Revise the golden rules of accounting, journal entries, trial balance, depreciation and the difference between capital and revenue expenditure.
- Learn the basics of GST (CGST, SGST, IGST, input tax credit, GSTR-1 and GSTR-3B) and TDS (deduction, deposit and quarterly returns).
- Practise Tally Prime: creating ledgers, passing vouchers, GST invoices and basic reports.
- Do one hour of Excel practice a day: lookups, pivot tables, conditional formatting and removing duplicates.
How experienced candidates should prepare
- List the processes you own (accounts payable, receivable, GST returns, TDS, payroll inputs, audits) with volumes, such as invoices a month or entities handled.
- Prepare one example of an error you caught, a process you made faster, and an audit you supported.
- Revise recent GST and TDS changes that touch your work, and the ERP you used (SAP, Oracle, Zoho Books, Tally).
- For analyst roles: budgeting, variance analysis, MIS reports and a simple three-statement model.
Documents and salary discussion
- Keep ready: resume, mark sheets and degree, CA, CMA or other exam results, experience and relieving letters, last three salary slips.
- State your current CTC break-up clearly and give a realistic expected range for the role.
Common mistakes in finance interviews
- Guessing a GST or TDS rule instead of saying you would check the current notification.
- Claiming Excel skills you cannot show in a live test.
- Being vague about numbers: say how many invoices, vendors or entities you handled.
Top accounts and finance interview questions with sample answers
What are the golden rules of accounting?
Personal account: debit the receiver, credit the giver. Real account: debit what comes in, credit what goes out. Nominal account: debit all expenses and losses, credit all incomes and gains.
How do you prepare a bank reconciliation statement?
Compare the bank statement with the cash book, mark matching entries, then list the differences: cheques issued but not presented, deposits not yet credited, bank charges and interest not yet booked, and errors. Book the missing entries and confirm both balances agree.
What is input tax credit under GST?
It is the GST paid on purchases that a registered business can set off against the GST it collects on sales, if the supplier has filed the invoice (it appears in GSTR-2B), the goods or services are used for business, and tax has been paid.
What is the difference between GSTR-1 and GSTR-3B?
GSTR-1 reports outward supplies invoice by invoice; GSTR-3B is the summary return where the tax liability is declared and paid after claiming input tax credit.
What is TDS and when is it deducted?
Tax deducted at source: the payer deducts tax at the prescribed rate when making certain payments (salary, contractor or professional fees, rent, commission), deposits it with the government and files quarterly TDS returns, so the payee gets credit for it.
What is the difference between provision and reserve?
A provision is a charge against profit for a known liability or loss whose amount is estimated, such as doubtful debts. A reserve is an appropriation of profit kept aside to strengthen the business, not for a specific known liability.
How do you close the books at month end?
Record all invoices and expenses, book accruals and prepaid adjustments, depreciation, reconcile bank, vendor and customer balances, review GST and TDS entries, check the trial balance and prepare the MIS for review.
What is the difference between accrual and cash accounting?
Accrual accounting records income and expenses when they are earned or incurred; cash accounting records them when cash is received or paid. Companies in India follow the accrual basis.
How do you use VLOOKUP or XLOOKUP in your work?
Give a real example, such as matching the vendor ledger with GSTR-2B by invoice number to find mismatches, and mention handling errors with IFERROR and exact match.
Tell me about an error you found in the accounts.
Describe the error (a duplicate payment, a wrong GST rate, a missed accrual), how you found it, the correction and the check you added so it would not repeat.
Which accounting software have you used?
Name them and what you did in each: Tally Prime for vouchers and GST, SAP or Oracle for AP and AR, Zoho Books for invoicing. Be honest about your level.
Why did you not clear your CA or CMA exam yet? (if asked)
Answer plainly: your status, what you learned, and whether you are still attempting it; then bring the focus back to your practical skills.
Ready to apply?
There are 4,957 open Accounting & Finance jobs on CoreHRx right now. Create a free profile once and apply with it.