11 Feb 2008
Tax structure in India – Just for the funny bone……
TAX STRUCTURE IN INDIA and lot of it TALLY 9.0, Tally 9 can handle it for you.
1) Q. : What are you doing?
Ans. : Business.
Tax : PAY PROFESSIONAL TAX!
2) Q. : What are you doing in Business?
Ans. : Selling the Goods.
Tax : PAY SALES TAX!!
3) Q. : From where are you getting Goods?
Ans. : From other State/Abroad
Tax : PAY CENTRAL SALES TAX, CUSTOM DUTY & OCTROI!
4) Q. : What are you getting in Selling Goods?
Ans. : Profit.
Tax : PAY INCOME TAX!
Q. : How do you distribute profit ?
Ans : By way of dividend
Tax : Pay dividend distribution Tax
5) Q. : Where you Manufacturing the Goods?
Ans. : Factory.
Tax : PAY EXCISE DUTY!
6) Q. : Do you have Office / Warehouse/ Factory?
Ans. : Yes
Tax : PAY MUNICIPAL & FIRE TAX!
7) Q. : Do you have Staff?
Ans. : Yes
Tax : PAY STAFF PROFESSIONAL TAX!
8) Q. : Doing business in Millions?
Ans. : Yes
Tax : PAY TURNOVER TAX!
Ans : No
Tax : Then pay Minimum Alternate Tax
9) Q. : Are you taking out over 25,000 Cash from Bank?
Ans. : Yes, for Salary.
Tax : PAY CASH HANDLING TAX!
10) Q.: Where are you taking your client for Lunch & Dinner?
Ans. : Hotel
Tax : PAY FOOD & ENTERTAINMENT TAX!
11) Q.: Are you going Out of Station for Business?
Ans. : Yes
Tax : PAY FRINGE BENEFIT TAX!
12) Q.: Have you taken or given any Service/s?
Ans. : Yes
Tax : PAY SERVICE TAX!
13) Q.: How come you got such a Big Amount?
Ans. : Gift on birthday.
Tax : PAY GIFT TAX!
14) Q.: Do you have any Wealth?
Ans. : Yes
Tax : PAY WEALTH TAX!
15) Q.: To reduce Tension, for entertainment, where are you going?
Ans. : Cinema or Resort.
Tax : PAY ENTERTAINMENT TAX!
16) Q.: Have you purchased House?
Ans. : Yes
Tax : PAY STAMP DUTY & REGISTRATION FEE !
17) Q.: How you Travel?
Ans. : Bus
Tax : PAY SURCHARGE!
18) Q.: Any Additional Tax?
Ans. : Yes
Tax : PAY EDUCATIONAL, ADDITIONAL EDUCATIONAL & SURCHARGE ON ALL THE CENTRAL GOVT. 's TAX !!!
19) Q.: Delayed any time Paying Any Tax?
Ans. : Yes
Tax : PAY INTEREST & PENALTY!
Labels: Statutory Compliance in India, Taxation
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2017.7.10
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