Thursday, July 7, 2011

TAX INFO

TAX IN INDIA!

1) Qus. : What are you doing?
Ans. : Business.
Tax : PAY PROFESSIONAL TAX

2) Qus. : What are you doing in Business?
Ans. : Selling the Goods.
Tax : PAY SALES TAX

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

4) Qus. : What are you getting in Selling Goods?
Ans. : Profit.
Tax : PAY INCOME TAX

5) Qus. : How do you distribute profit ?
Ans : By way of dividend
Tax : PAY DIVIDEND DISTRIBUTION TAX

6) Qus. : Where you Manufacturing the Goods?
Ans. : Factory.
Tax : PAY EXCISE DUTY

8 ) Qus. : Do you have Staff?
Ans. : Yes
Tax : PAY STAFF PROFESSIONAL TAX

9) Qus. : Doing business in Millions?
Ans. : Yes
Tax : PAY TURNOVER TAX?
Ans : No
Tax : Then pay Minimum Alternate Tax

10) Qus. : Are you taking out over 25,000 Cash from Bank?
Ans. : Yes, for Salary.
Tax : PAY CASH HANDLING TAX

11) Qus.: Where are you taking your client for Lunch & Dinner?
Ans. : Hotel
Tax : PAY FOOD & ENTERTAINMENT TAX

12) Qus.: Are you going Out of Station for Business?
Ans. : Yes
Tax : PAY FRINGE BENEFIT TAX

13) Qus.: Have you taken or given any Service/s?
Ans. : Yes
Tax : PAY SERVICE TAX

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

15) Qus.: Do you have any Wealth?
Ans. : Yes
Tax : PAY WEALTH TAX

16) Qus.: To reduce Tension, for entertainment, where are you going?
Ans. : Cinema or Resort.
Tax : PAY ENTERTAINMENT TAX

17) Qus.: Have you purchased House?
Ans. : Yes
Tax : PAY STAMP DUTY & REGISTRATION FEE

18) Qus.: How you Travel?
Ans. : Bus
Tax : PAY SURCHARGE

19) Qus.: Any Additional Tax?
Ans. : Yes
Tax : PAY EDUCATIONAL, ADDITIONAL EDUCATIONAL & SURCHARGE ON ALL THE
CENTRAL GOVT.'s TAX !!!

20) Qus.: Delayed any time Paying Any Tax?
Ans. : Yes
Tax : PAY INTEREST & PENALTY

21) INDIAN :: Can I die now??
Ans :: No, wait we are about to launch the FUNERAL TAX
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Petrol Price in INDIA

Pakistan Rs. 26

Bangladesh Rs. 22

Cuba Rs.19

Nepal Rs. 34

Burma Rs. 30

Afghanistan Rs. 36

INDIA Rs. 57

BASIC COST PER 1 LITRE 16.50
Centre tax 11.80%
Excise duty 9.75%
Vat cess 4%
State tax 8 %

Total Rs. 50.05 (Above calculations subject to confirmation!)

Now extra 7 Rs, PER 1 LITRE
Great job from govt. ...

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