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Friday, May 1, 2009

TAX STRUCTURE IN INDIA

Some one Help me on TAX......

1) Qstn. : What are you doing?
Ans. : Business.
Tax : PAY PROFESSIONAL TAX!

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

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

4) Qstn. : What are you getting in Selling Goods?
Ans. : Profit.
Tax : PAY INCOME TAX!

5) Qstn. : How do you distribute profit ?
Ans. : By way of dividend
Tax : Pay dividend distribution Tax!

6) Qstn. : Where you Manufacturing the Goods?
Ans. : Factory.
Tax : PAY EXCISE DUTY!

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

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

9) Qstn. : Doing business in Millions?
Ans. : Yes
Tax : PAY TURNOVER TAX!

Ans : No
Tax : Then pay Minimum Alternate Tax!

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

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

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

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

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

15) Qstn. : Do you have any Wealth?
Ans. : Yes
Tax : PAY WEALTH TAX!

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

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

18) Qstn. : How you Travel?
Ans. : Bus
Tax : PAY SURCHARGE!

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

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

21) Qstn. : Can I die now??
Ans. : Wait we are about to launch the FUNERAL TAX!!!

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