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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 you