TAX STRUCTURE IN INDIA
1) Que.: What are you doing?
Ans.: Business.
Tax: PAY PROFESSIONAL TAX!
2) Que.: What are you doing in Business?
Ans.: Selling the Goods.
Tax: PAY SALES TAX!!
3) Que.: From where are you getting Goods?
Ans.: From other State/Abroad
Tax: PAY CENTRAL SALES TAX, CUSTOM DUTY & OCTROI!
4) Que.: What are you getting in Selling Goods?
Ans.: Profit.
Tax: PAY INCOME TAX!
5) Que.: How do you distribute profit?
Ans: By way of dividend
Tax: Pay dividend distribution Tax
6) Que.: Where you Manufacturing the Goods?
Ans.: Factory.
Tax: PAY EXCISE DUTY!
7) Que.: Do you have Office / Warehouse/ Factory?
Ans.: Yes
Tax: PAY MUNICIPAL & FIRE TAX!
8) Que.: Do you have Staff?
Ans.: Yes
Tax: PAY STAFF PROFESSIONAL TAX!
9) Que.: Doing business in Millions?
Ans.: Yes
Tax: PAY TURNOVER TAX!
Ans: No
Tax: Then pay Minimum Alternate Tax
10) Que. : Are you taking out over 25,000 Cash from Bank?
Ans.: Yes, for Salary.
Tax: PAY CASH HANDLING TAX!
11) Que.: Where are you taking your client for Lunch & Dinner?
Ans.: Hotel
Tax: PAY FOOD & ENTERTAINMENT TAX!
12) Que.: Are you going Out of Station for Business?
Ans.: Yes
Tax: PAY FRINGE BENEFIT TAX!
13) Que.: Have you taken or given any Service/s?
Ans.: Yes
Tax: PAY SERVICE TAX!
14) Que.: How come you got such a Big Amount?
Ans.: Gift on birthday.
Tax: PAY GIFT TAX!
15) Que.: Do you have any Wealth?
Ans.: Yes
Tax: PAY WEALTH TAX!
16) Que.: To reduce Tension, for entertainment, where are you going?
Ans.: Cinema or Resort.
Tax: PAY ENTERTAINMENT TAX!
17) Que.: Have you purchased House?
Ans.: Yes
Tax: PAY STAMP DUTY & REGISTRATION FEE !
18) Que.: How you Travel?
Ans.: Bus
Tax: PAY SURCHARGE!
19) Que.: Any Additional Tax?
Ans. : Yes
Tax: PAY EDUCATIONAL, ADDITIONAL EDUCATIONAL & SURCHARGE ON ALL THE CENTRAL GOVT.'s TAX !!!
20) Que.: 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!!!
Wanna Die?? Pay Tax!
