21 important facts about India and Indian Tax system.
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
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 Government TAX!!!
20)
Qus.: Delayed any time paying Any Tax?
Ans.: Yes
Tax: PAY INTEREST & PENALTY
21)
INDIAN: Can I die now??
Ans. - Currently No Tax but your kids may have to pay tax
Ans: No, wait we are about to launch the FUNERAL TAX
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