Tuesday, September 28, 2010

Tax Structure in India...





Question 1.. : What are you doing?
Ans. : Business.

Tax : PAY PROFESSIONAL TAX!


Question 2 : What are you doing in Business?
Ans. : Selling the Goods.

Tax : PAY SALES TAX!!


Question 3 : From where are you getting Goods?
Ans. : From other State/Abroad

Tax : PAY CENTRAL SALES TAX, CUSTOM DUTY & OCTROI!


Question 4 : What are you getting in Selling Goods?
Ans. : Profit.

Tax : PAY INCOME TAX!


Question 5: How do you distribute profit ?
Ans : By way of dividend

Tax : PAY DIVIDEND DISTRIBUTION TAX


Question 6 : Where you Manufacturing the Goods?
Ans. : Factory...

Tax : PAY EXCISE DUTY!


Question 7 : Do you have Office / Warehouse / Factory?
Ans. : Yes

Tax : PAY MUNICIPAL & FIRE TAX!


Question 8 : Do you have Staff?
Ans. : Yes

Tax : PAY STAFF PROFESSIONAL TAX!


Question 9 : Doing business in Millions?
Ans. : Yes --
Tax : PAY TURNOVER TAX!
Ans : No --
Tax : Then pay Minimum Alternate Tax

Question 10 : Are you taking out over 25,000 Cash from Bank?
Ans. : Yes, for Salary.

Tax : PAY CASH HANDLING TAX!


Question 11 : Where are you taking your client for Lunch & Dinner?
Ans. : Hotel

Tax : PAY FOOD & ENTERTAINMENT TAX!


Question 12 : Are you going Out of Station for Business?
Ans. : Yes

Tax : PAY FRINGE BENEFIT TAX!


Question 13 : Have you taken or given any Service / (s)?
Ans. : Yes

Tax : PAY SERVICE TAX!


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


Question 15.: Do you have any Wealth?
Ans. : Yes

Tax : PAY WEALTH TAX!


Question 16 : To reduce Tension, for entertainment, where are you going?
Ans. : Cinema or Resort.

Tax : PAY ENTERTAINMENT TAX!


Question 17 : Have you purchased House?
Ans. : Yes

Tax : PAY STAMP DUTY & REGISTRATION FEE !


Question 18 : How you Travel?
Ans. : Bus

Tax : PAY SURCHARGE!


Question 19.: Any Additional Tax?
Ans. : Yes

Tax : PAY EDUCATIONAL, ADDITIONAL EDUCATIONAL & SURCHARGE ON ALL THE CENTRAL GOVT.'s TAX !!!



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with luv 'n' regards

Kiran Desai

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