Tax World

TAX STRUCTURE IN INDIA

Courtesy : One of the Senior members of the Federation

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

Q.2. What are you doing in Business?
Ans. Selling the goods
Tax : PAY SALES TAX!! 

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

Q.4. What are you getting in selling goods?
Ans. Profit
Tax : PAY INCOME TAX! 

Q.5. Where you Manufacturing the Goods?
Ans. Factory
Tax : PAY EXCISE DUTY! 

Q.6. Do you have Office / Warehouse/ Factory?
Ans. Yes
Tax : PAY MUNICIPAL & FIRE TAX! 

Q.7. Do you have staff?
Ans. Yes
Tax : PAY STAFF PROFESSIONAL TAX! 

Q.8. Doing business in millions?
Ans. Yes
Tax : PAY TURNOVER TAX! 

Q.9. Are you taking out over 25,000 cash from bank?
Ans. Yes, for salary.
Tax : PAY CASH HANDLING TAX! 

Q.10. Where are you taking your client for lunch & dinner?
Ans. Hotel
Tax : PAY FOOD & ENTERTAINMENT TAX! 

Q.11. Are you going out of station for business?
Ans. Yes
Tax : PAY FRINGE BENEFIT TAX! 

Q.12. Have you taken or given any service/s?
Ans. Yes
Tax : PAY SERVICE TAX! 

Q.13. How come you got such a big amount?
Ans. Gift on birthday
Tax : PAY GIFT TAX! 

Q.14. Do you have any wealth?
Ans. Yes
Tax : PAY WEALTH TAX! 

Q.15. To reduce tension, for entertainment, where are you going?
Ans. Cinema or resort.
Tax : PAY ENTERTAINMENT TAX! 

Q.16. Have you purchased house?
Ans. Yes
Tax : PAY STAMP DUTY & REGISTRATION FEE ! 

Q.17. How you travel?
Ans. Bus
Tax : PAY SURCHARGE! 

Q.18. Any Additional Tax?
Ans. Yes
Tax : PAY EDUCATIONAL, ADDITIONAL EDUCATIONAL & SURCHARGE ON ALL THE CENTRAL GOVT.’s TAX !!! 

Q.19. Delayed any time paying any tax?
Ans. Yes
Tax : PAY INTEREST & PENALTY!