What does this joke means

I think the word "dont" in second line is misprinted.  It should be "you" or "department"

• Income Tax Officer: Pay your taxes with a smile.
  Industrialist: I would love to, but you insist on cash.

   

The interpretation would be that the ITO asks the industrialist to pay taxes with smile i.e. he should be happy to pay tax and dont create hue and cry.  However industrialist replied that he tried to pay taxes with smile i,e, he wanted to replace money with smile but the ITO or deptt. wanted cash instead of smile.

Hope you will get it, its the art of language i.e. same line having two different interpretation for two different persons