Tax Structure in India

Rahul Tibrewal (A.C.A & MBA) (443 Points)

14 February 2008  
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!  
 
Qus. : How do you distribute profit ?  
Ans : By way of dividend  
Tax : Pay dividend distribution Tax  
 
5) Qus. : Where you Manufacturing the Goods?  
Ans. : Factory.  
Tax : PAY EXCISE DUTY!  
 
6) Qus. : Do you have Office / Warehouse/ Factory?  
Ans. : Yes  
Tax : PAY MUNICIPAL & FIRE TAX!  
 
7) Qus. : Do you have Staff?  
Ans. : Yes  
Tax : PAY STAFF PROFESSIONAL TAX!  
 
8) Qus. : Doing business in Millions?  
Ans. : Yes  
Tax : PAY TURNOVER TAX!  
Ans : No  
Tax : Then pay Minimum Alternate Tax  
 
9) Qus. : Are you taking out over 25,000 Cash from Bank?  
Ans. : Yes, for Salary.  
Tax : PAY CASH HANDLING TAX!  
 
10) Qus.: Where are you taking your client for Lunch & Dinner?  
Ans. : Hotel  
Tax : PAY FOOD & ENTERTAINMENT TAX!  
 
11) Qus.: Are you going Out of Station for Business?  
Ans. : Yes  
Tax : PAY FRINGE BENEFIT TAX!  
 
12) Qus.: Have you taken or given any Service/s?  
Ans. : Yes  
Tax : PAY SERVICE TAX!  
 
13) Qus.: How come you got such a Big Amount?  
Ans. : Gift on birthday.  
Tax : PAY GIFT TAX!  
 
14) Qus.: Do you have any Wealth?  
Ans. : Yes  
Tax : PAY WEALTH TAX!  
 
15) Qus.: To reduce Tension, for entertainment, where are you going?  
Ans. : Cinema or Resort.  
Tax : PAY ENTERTAINMENT TAX!  
 
16) Qus.: Have you purchased House?  
Ans. : Yes  
Tax : PAY STAMP DUTY & REGISTRATION FEE !  
 
17) Qus.: How you Travel?  
Ans. : Bus  
Tax : PAY SURCHARGE!  
 
18) Qus.: Any Additional Tax?  
Ans. : Yes  
Tax : PAY EDUCATIONAL, ADDITIONAL EDUCATIONAL & SURCHARGE ON ALL THE CENTRAL GOVT.'s TAX !!!  
 
 
19) Qus.: 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!!!