Tax Structure in india

Sumit Middha (Head (Fin.& A/c) M.COM M.A.(Eco) MBA CS Final)   (2453 Points)

04 December 2012  

TAX STRUCTURE IN INDIA

1) What r u doing? 
Ans. : Business 
Tax : PAY PROFESSIONAL TAX! 

 


2) What r u doing in Business? 
Ans. : Selling the Goods. 
Tax : PAY SALES TAX!! 

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

4) What r u getting in Selling Goods? 
Ans. : Profit
Tax : PAY INCOME TAX! 

How do you distribute profit ? 
Ans : By way of dividend 
Tax : Pay dividend distribution Tax

5) Where u Manufacturing the Goods? 
Ans. : Factory
Tax : PAY EXCISE DUTY!

6) Do u have Office / Warehouse/ Factory?
Ans. : Yes 
Tax : PAY MUNICIPAL & FIRE TAX!

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

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

9) r u taking out over 25,000 Cash from Bank? 
Ans. : Yes, for Salary. 
Tax : PAY CASH HANDLING TAX! 

10) Where r u taking your client for Lunch & Dinner? 
Ans. : Hotel 
Tax : PAY FOOD & ENTERTAINMENT TAX! 

11) r u going Out of Station for Business? 
Ans. : Yes 
Tax : PAY FRINGE BENEFIT TAX! 

12) Hav u taken or given any Service/s?
Ans. : Yes 
Tax : PAY SERVICE TAX!

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

14) Do u have any Wealth? 
Ans. : Yes
Tax : PAY WEALTH TAX!

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

16) Hav u purchased House? 
Ans. : Yes
Tax : PAY STAMP DUTY & REGISTRATION FEE !

17) How u Travel?
Ans. : Bus
Tax : PAY SURCHARGE!

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

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

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