Tax Structure In India: Interesting Facts

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"Taxes and death" is the only certainty. Take a look at this interesting article and you would realize, why the statement is so appropriate. We have just restricted to a few taxes and have ignored so many others.

Tax Structure In India: Interesting Facts

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 Area/State/Abroad 
Tax: PAY CENTRAL SALES TAX, CUSTOM DUTY & OCTROI!  AND NOW LBT & LPT.

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.

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

7) Do You have Office / Warehouse/ Factory?
Ans.: Yes 
Tax: PAY MUNICIPAL & FIRE TAX!

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

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

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

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

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

13) Do you have any Wealth? 
Ans.: Yes
Tax: PAY WEALTH TAX!

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

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

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

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

18) Do you want growth of india.?
Ans: Offcource Yes.
Pay electricity tax, water tax, education tax, & other taxes, which is used by defulter people.

19) INDIAN: Can I die now?? 
Ans: Wait we are about to launch the FUNERAL TAX....!!!!!!...

This message is doing the rounds on Whatsapp seems interesting and true. How a common individual in India is bound by taxes.

Read more about: income tax, direct tax, indirect tax
Story first published: Monday, March 7, 2016, 11:23 [IST]
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