Thursday, December 24, 2009

Tax structure in India


(We sincerely hope our dear FM does not read the last point)
 

TAX STRUCTURE IN INDIA

1) Qus. : What are you doing?  
Ans. : Business.
 
Tax : PAY PROFESSIONAL TAX!
 

2) Qus. : What are you doing in Business?
 
Ans. : Selling the Goods.
 
Tax : PAY SALES TAX!!
 

3) Qus. : From where are you getting Goods?
 
Ans. : From other State/Abroad
 
Tax : PAY CENTRAL SALES TAX, CUSTOM DUTY & OCTROI!
 

4) Qus. : What are you getting in Selling Goods?
 
Ans. : Profit.
 
Tax : PAY INCOME TAX!
 

5) Qus. : How do you distribute profit ?
 
Ans : By way of dividend
 
Tax : Pay dividend distribution Tax
 

6) Qus. : Where you Manufacturing the Goods?
 
Ans. : Factory.
 
Tax : PAY EXCISE DUTY!
 

7) Qus. : Do you have Office / Warehouse/ Factory?
 
Ans. : Yes
 
Tax : PAY MUNICIPAL & FIRE TAX!
 

8) Qus. : Do you have Staff?
 
Ans. : Yes
 
Tax : PAY STAFF PROFESSIONAL TAX!
 

9) Qus. : Doing business in Millions?
 
Ans. : Yes
 
Tax : PAY TURNOVER TAX!
 
Ans : No
 
Tax : Then pay Minimum Alternate Tax
 

10) Qus. : Are you taking out over 25,000 Cash from Bank?
 
Ans. : Yes, for Salary.
 
Tax : PAY CASH HANDLING TAX!
 

11) Qus.: Where are you taking your client for Lunch & Dinner?
 
Ans. : Hotel
 
Tax : PAY FOOD & ENTERTAINMENT TAX!
 

12) Qus.: Are you going Out of Station for Business?
 
Ans. : Yes
 
Tax : PAY FRINGE BENEFIT TAX!
 

13) Qus.: Have you taken or given any Service/s?
 
Ans. : Yes
 
Tax : PAY SERVICE TAX!
 

14) Qus.: How come you got such a Big Amount?
 
Ans. : Gift on birthday.
 
Tax : PAY GIFT TAX!
 

15) Qus.: Do you have any Wealth?
 
Ans. : Yes
 
Tax : PAY WEALTH TAX!
 

16) Qus.: To reduce Tension, for entertainment, where are you going?
 
Ans. : Cinema or Resort.
 
Tax : PAY ENTERTAINMENT TAX!
 

17) Qus.: Have you purchased House?
 
Ans. : Yes
 
Tax : PAY STAMP DUTY & REGISTRATION FEE !
 

18) Qus.: How you Travel?
 
Ans. : Bus
 
Tax : PAY SURCHARGE!
 

19) Qus.: Any Additional Tax?
 
Ans. : Yes
 
Tax : PAY EDUCATIONAL, ADDITIONAL EDUCATIONAL & SURCHARGE ON ALL THE CENTRAL GOVT.'s TAX !!!


20) Qus.: Delayed any time Paying Any Tax?
 
Ans. : Yes
 
Tax : PAY INTEREST & PENALTY!
 

21) INDIAN :: can i die now??
 
Ans :: wait we are about to launch the funeral tax!!!



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