A new lower direct tax proposal has been released by the indian finance minister. the new tax code is supposed to be implemented in 2011. This new move brings in a lot of relief to the individuals as such and has made the taxes more understandable to the layman.

The new proposal in a nutshell is given below.


Following is a joke on the Tax Structure 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!

7) Qus. : Do you have Office / Warehouse/ Factory?

Ans. : Yes

Tax : PAY MUNICIPAL & FIRE TAX!

8) Qus. : Do you have Staff?

Ans. : Yes

Tax : PAY STAFF PROFESSIONAL TAX!

8) 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 :: Wait we are about to launch the Funeral Tax !!!!!!!!!!!!!!!!!

Advertisements