EY is hiring Fresher /Experienced candidates for TAX ANALYST INTERN. The details of the job, requirements and other information given below:
EY IS HIRING : TAX ANALYST INTERN
- Qualification : Graduates/Post-graduates (BCom/BBM/MCom/MBA (Finance))
- 2024/2025 Batches can apply
- Good communication and inter-personal skill to interact with GTH team and onshore team.
- Possess good communication Skills
- Demonstrate high degree of accounting and analytical skills.
- Demonstrate good computer knowledge – Good knowledge in MS Excel and a basic knowledge of other MS Office, Web- based applications.
- Location: Bengaluru
Don’t miss out, CLICK HERE (to apply before the link expires)
EY Tax Analyst – Interview Questions and Answers
1. Tell me about yourself.
Answer:
I am a commerce graduate with a specialization in Finance. I have studied subjects like accounting, taxation, and financial management, which gave me a strong foundation. During my college, I developed an interest in taxation and financial analysis, and I’m excited to start my career in this field. I’m good with MS Excel, and I always try to stay organized and detail-oriented in whatever work I do. I believe working at EY will give me the right exposure to grow in a professional environment, and I am ready to learn and contribute to the team.
2. Why do you want to join EY?
Answer:
I want to join EY because it’s one of the top professional services firms in the world, and it offers great learning opportunities, especially in tax and finance. EY focuses on building a better working world and invests in people and technology. I believe EY’s inclusive culture and global reach will help me grow both professionally and personally. Also, I’ve heard from employees that EY provides a supportive environment for freshers to learn and develop their skills.
3. What do you know about the Tax Analyst role?
Answer:
As a Tax Analyst at EY, I understand that the main responsibilities include analyzing financial data, preparing draft income statements and balance sheets, and working on tax returns for hedge funds and mutual funds. The role also involves checking data accuracy, computing tax allocations, and preparing financial statements. Basically, the job is to support clients by handling their financial and tax-related data accurately and professionally.
4. What is a Balance Sheet and what does it include?
Answer:
A balance sheet is a financial statement that shows a company’s financial position at a specific point in time. It has three main parts:
Assets – What the company owns (like cash, inventory, equipment).
Liabilities – What the company owes (like loans, bills).
Equity – The owner’s interest in the company.
The formula is:
Assets = Liabilities + Equity
It helps investors and companies understand the financial health of the business.
5. What is an Income Statement?
Answer:
An income statement shows a company’s performance over a period, like a month or a year. It includes:
Revenue – How much money the company earned.
Expenses – Costs like salaries, rent, etc.
Net Profit/Loss – Revenue minus expenses.
If the revenue is more than expenses, it’s a profit. If expenses are more, it’s a loss. This helps companies track their profitability.
6. What are economic allocations in taxation?
Answer:
Economic allocation means dividing or assigning profits, losses, or income among partners or investors based on their share or agreement. In hedge funds or mutual funds, the income and expenses must be allocated fairly among investors. It is important to follow this when preparing tax returns, so each investor pays the correct amount of tax based on their share.
7. Can you explain what hedge funds and mutual funds are?
Answer:
Mutual Funds are investment funds that collect money from many investors and invest in stocks, bonds, or other assets. They are managed by professionals and usually follow a long-term strategy.
Hedge Funds are also investment funds, but they use more complex strategies to try and get higher returns. They are more flexible and are usually meant for high-net-worth individuals or institutions.
As a Tax Analyst, we may work on the tax reporting and financial data of such funds.
8. What do you know about corporate tax?
Answer:
Corporate tax is a tax paid by companies on their profits. Every company that earns income must calculate how much profit they made and pay tax to the government based on that profit. As a Tax Analyst, we help in calculating this profit correctly, applying tax laws, and preparing the necessary tax returns and reports.
9. What are some basic functions you can perform in MS Excel?
Answer:
I can do many basic and important functions in Excel such as:
Using formulas like SUM, AVERAGE, VLOOKUP, IF statements.
Creating tables and charts to present data.
Using filters and sorting to organize data.
Performing basic data validation and formatting.
Preparing simple financial models or calculations.
Excel is very helpful in managing and analyzing large amounts of financial data.
10. How do you ensure the accuracy of your work?
Answer:
To ensure accuracy, I always double-check my work and go through it line by line. I compare it with the source documents to make sure there are no mistakes. I also use Excel formulas to cross-verify numbers and totals. If I have any doubt, I ask questions or confirm with my team. It’s important to be careful because even small errors can affect the overall financial reports.
11. Are you comfortable working in a team and communicating with onshore teams?
Answer:
Yes, I am comfortable working in a team. I believe team collaboration helps in sharing knowledge and solving problems faster. I’m also open to learning how to communicate professionally with the onshore team. I know communication is key to understanding the work clearly and delivering the expected results.
12. What are your strengths that make you suitable for this role?
Answer:
My strengths are attention to detail, strong analytical skills, and willingness to learn. I am good at working with numbers and ensuring accuracy. I am also disciplined and organized, which helps in meeting deadlines. I always try to understand the logic behind a task rather than just completing it blindly, which I think is important in tax and finance roles.
13. Are you aware of any recent tax developments or reforms?
Answer:
I follow basic updates on tax rules and news. For example, I know that there have been many changes in international tax regulations, like BEPS (Base Erosion and Profit Shifting) and changes in corporate tax rates in countries like the US. I am still learning more and I look forward to improving my tax knowledge at EY through training and hands-on experience.
14. How do you handle deadlines and pressure?
Answer:
I believe in managing time properly and setting small targets to complete work step by step. When there is a deadline, I focus completely on the task, avoid distractions, and prioritize important work. If I feel stuck or unsure, I don’t hesitate to ask for help early to avoid delays. Staying calm and focused helps in managing pressure better.
15. Do you have any questions for us?
Answer:
Yes, I’d like to ask:
What kind of training and support will I receive when I join as a Tax Analyst?
Are there opportunities for internal growth and movement within different teams at EY?
What does a typical day look like in this role?
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