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Showing posts from March, 2013

TAX STRUCTURE IN INDIA

1) What are you doing?  Ans. : Business 
Tax :PAY PROFESSIONAL TAX!
2) What are you doing in Business? 
Ans. : Selling the Goods.
Tax : PAY SALES TAX!!
3) From where are you getting Goods? 
Ans. : From other State/Abroad 
Tax : PAY CENTRAL SALES TAX, CUSTOM DUTY & OCTROI!
4) What are you getting in Selling Goods? 
Ans. : Profit
Tax : PAY INCOME TAX!
5) How do you distribute profit ?
Ans : By way of dividend 
Tax : Pay dividend distribution Tax
5) Where you Manufacturing the Goods? 
Ans. : Factory
Tax : PAY EXCISE DUTY!
6) Do you have Office / Warehouse/ Factory?
Ans. : Yes 
Tax : PAY MUNICIPAL & FIRE TAX!
7) Do you have Staff? 
Ans. : Yes 
Tax : PAY STAFF PROFESSIONAL TAX!
8) Doing business in Millions? 
Ans. : Yes 
Tax : PAY TURNOVER TAX! 
Ans : No
Tax : Then pay Minimum Alternate Tax
9) r u taking out over 25,000 Cash from Bank? 
Ans. : Yes, for Salary. 
Tax : PAY CASH HANDLING TAX!
10) Where r u taking your client for Lunch & Dinner? 
Ans. : Hotel 
Tax : PAY FOOD & ENTERTAINMENT TAX!
11) Are you goin…