04 July 2011

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Know 21 Important Facts about Indian Taxation system and know what will be taxed in India in future

Know 21 Important Facts about Indian Taxation system and know what will be taxed in India in future



India is a country where if you will do million or billion of Rupees tax fraud
it’s very rare any one will arrest you,
you will only get arrested if media pays attention towards you.


If you are common middle class person you will born in a tax and you will die while thinking about tax and how to save tax.


Below are the 21 important facts about India and Indian Tax system.

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 Government TAX!!!

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

21)
INDIAN: Can I die now??
Ans. - Currently No Tax but your kids may have to pay tax
Ans: No, wait we are about to launch the FUNERAL TAX


After Paying all these above taxes  as an Indian citizen what we get


Dirty Roads
 

Dirty Water

Dirty Foo
d

Useless or Expired  Medicine

Useless education


Dirty government hospitals


No medicines


No Freedom 

Females Can not feel safe while traveling 

and Many More


If you do not support honesty.

If you do not speak up against dishonesty and corruption

I am sure your kids will pay tax for their funeral also.

Not only death, 


Government  will tax the Oxygen also which we  breathe 

as corrupt officers and politicians will end up destroying our Indian environment and forests.

Reality views by sm –

Keyword – India Tax Facts what is not taxed in India

25 comments:

Kirtivasan Ganesan July 04, 2011  

A brilliant way of looking at taxes. A few questions and answers and the basics become clear.
Thanks for sharing.

virendra sharma July 04, 2011  

Sir ,you forgot to mention at the end of the day you get a "crow scare bar",in hindi "BIJOOKA" as a PM,controled by a surrogate mother .

रविकर July 04, 2011  

Baap re |

बधाई |
सुन्दर अभिव्यक्ति ||

sm,  July 04, 2011  

Kirti,
thanks.

sm,  July 04, 2011  

veerubhai,
thanks

sm,  July 04, 2011  

रविकर,
thanks.

पूनम श्रीवास्तव July 04, 2011  

sm ji
bahut bahut badhai itne vistaar se ek naveen jankari dene ke liye.
kabhi socha na tha par aapne bata kar achha kiya
dhanyvaad
poonam

Urmi July 04, 2011  

Thanks a lot for this wonderful, useful and informative post.

Ramya Ranganathan July 04, 2011  

Hi SM,

So true... very soon we can expect funeral tax !!

nothing has changed and and nothing will change..

sm,  July 04, 2011  

JHAROKHA,
thanks.

sm,  July 04, 2011  

Babli,
thanks.

sm,  July 04, 2011  

Ramya Ranganathan,
thanks.

Kavita Saharia July 04, 2011  

Important info .Thanks for sharing.

Destination Infinity July 04, 2011  

Every action has its reaction - If people feel that they are not getting their share for the paid taxes, they will evade it as much as possible. There are so many traders and businessmen who earn a lot but don't even have a PAN number! If the Govt is unfair, the citizens will also be so. But the truth is reverse - Since the citizens are unfair, they elect a Govt which is unfair and hence suits them! Lets accept that.

Destination Infinity

Anonymous,  July 04, 2011  

you are educating the masses SM, great work !
love it !

just a small correction, the 'Fringe benefit tax' was called off by FM pranab mukherjee in 2009 !

Akelamalu July 04, 2011  

Tax is a pain the world over! ;)

Teamgsquare July 04, 2011  

Superb man . how true . I liked the term funeral tax

sm,  July 05, 2011  

kavita,
thanks.

sm,  July 05, 2011  

Destination Infinity,
thanks.

sm,  July 05, 2011  

Rohit Deshpande,
thanks.
thanks for adding information

sm,  July 05, 2011  

Akelamalu,
thanks.

sm,  July 05, 2011  

Team G Square,
thanks.

Usha July 07, 2011  

sm, you have nicely put all types of Indian taxes in this question-answer style narration...loved reading it. Too sad that no reform is on the way and multiple tax paying cycle will continue.

SM July 07, 2011  

Usha,
thanks.

Anonymous,  June 27, 2017  

superb. Tax info in limited and edutainment way.
Few were new to me. If i involve in more activities then i would have to pay more tax.