Wednesday, July 14, 2010

Tax Structure in India.... Funny/Scary but true...

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 !!!
Question 20: Delayed any time Paying Any Tax?
Ans. : Yes
Tax : PAY INTEREST & PENALTY!
21) INDIAN : Can I die now??
Ans :: Wait we are about to launch the funeral tax !!!

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