Tax Structure in India
Q: What are you doing?
A: Business.
Govt: PAY PROFESSIONAL TAX
Q: What are you doing in Business?
A: Selling the Goods.
Tax: PAY SALES TAX
Q: From where are you getting Goods?
A: From other State/Abroad
Tax: PAY CENTRAL SALES TAX, CUSTOM DUTY OCTROI
Q: What are you getting in Selling Goods?
A: Profit.
Tax: PAY INCOME TAX
Q: How do you distribute profit?
A: : By way of dividend
Tax: PAY DIVIDEND DISTRIBUTION TAX
Q: Where you Manufacturing the Goods?
A: Factory.
Tax: PAY EXCISE DUTY
Q: Do you have Staff?
A: Yes
Tax: PAY STAFF PROFESSIONAL TAX
Q: Doing business in Millions?
A: Yes or No
Tax: If yes, PAY TURNOVER TAX; if no, then pay Minimum Alternate Tax
Q: Are you taking out over 25,000 Cash from Bank?
A: Yes, for Salary.
Tax: PAY CASH HANDLING TAX
Q: Where are you taking your client for Lunch Dinner?
A: Hotel
Tax: PAY FOOD ENTERTAINMENT TAX
Q: Are you going Out of Station for Business?
A: Yes
Tax: PAY FRINGE BENEFIT TAX
Q: Have you taken or given any Service/s?
A: Yes
Tax: PAY SERVICE TAX
Q: How come you got such a Big Amount?
A: Gift on birthday.
Tax: PAY GIFT TAX
Q: Do you have any Wealth?
A: Yes
Tax: PAY WEALTH TAX
Q: To reduce Tension, for entertainment, where are you going?
Ans.: Cinema or Resort.
A: PAY ENTERTAINMENT TAX
Q: Have you purchased House?
A: Yes
Tax: PAY STAMP DUTY REGISTRATION FEE
Q: Want to run away to another city?
A: Yes
Tax: PAY TOLL CESS
Q: Any Additional Tax?
A: Yes
Tax: PAY EDUCATIONAL CESS SURCHARGE ON ALL THE CENTRAL GOVT TAXES
Q: Delayed any time Paying Any Tax?
A: Yes
Tax: PAY INTEREST PENALTY
Q: Can I die now?
A: No, wait we are about to launch the FUNERAL TAX !!!
