Tuesday, July 15, 2008

Tax Structure in India!!

Qus. : What are you doing?  
Ans. : Business.  
Tax : PAY PROFESSIONAL TAX!  

Qus. : What are you doing in Business?  
Ans. : Selling the Goods.  
Tax : PAY SALES TAX!!  

Qus. : From where are you getting Goods?  
Ans. : From other State/Abroad  
Tax : PAY CENTRAL SALES TAX, CUSTOM DUTY & OCTROI!  

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  

Qus. : Where you Manufacturing the Goods?  
Ans. : Factory.  
Tax : PAY EXCISE DUTY!  

Qus. : Do you have Office / Warehouse/ Factory?  
Ans. : Yes  
Tax : PAY MUNICIPAL & FIRE TAX!  

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

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

Qus. : Are you taking out over 25,000 Cash from Bank?  
Ans. : Yes, for Salary.  
Tax : PAY CASH HANDLING TAX!  

Qus.: Where are you taking your client for Lunch & Dinner?  
Ans. : Hotel  
Tax : PAY FOOD & ENTERTAINMENT TAX!  

Qus.: Are you going Out of Station for Business?  
Ans. : Yes  
Tax : PAY FRINGE BENEFIT TAX!  

Qus.: Have you taken or given any Service/s?  
Ans. : Yes  
Tax : PAY SERVICE TAX!  

Qus.: How come you got such a Big Amount?  
Ans. : Gift on birthday.  
Tax : PAY GIFT TAX!  

Qus.: Do you have any Wealth?  
Ans. : Yes  
Tax : PAY WEALTH TAX!  

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

Qus.: Have you purchased House?  
Ans. : Yes  
Tax : PAY STAMP DUTY & REGISTRATION FEE !  

Qus.: How you Travel?  
Ans. : Bus  
Tax : PAY SURCHARGE!  

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

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

Qus.: Can I Die now?? 
Ans: No  
Tax: WAIT, WE ARE ABOUT TO LAUNCH THE FUNERAL TAX!!!

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