I , as an Engineer have always stayed away from anything remotely related to commerce because ,let’s face it, I have no aptitude for it. Then ,when I saw the #TaxPledge by BlogAdda, asking bloggers to write about IT returns encouraging the readers to do it, I was up for the challenge. In a way, I am educating myself ,while educating my readers.
With the innumerable questions and doubts floating in my brain, I turn to Baba TaxDev for help!(Yes, the same Baba, who is very tech savy, publicity hungry and celebrity friendly baba, like we all know!)
As soon as I put forth my dilemma about not knowing anything related to Taxes, Baba TaxDev, replied, ‘Dear QueenBee, let me do the talking…’ (He knew I talk a lot and disturb the flow of speech. He knew soooo much! Baba TaxDev ki jai ho!)
‘No one will be interested in filing taxes if there were no advantages in it. I will tell you what we gain from filing returns and paying taxes.
Firstly, if you pay tax, it is a proof that you belong to that particular country.’
‘When you pay taxes and file returns, you will automatically be considered a law – abiding citizen!’ he said and winked!
I gaped at him. Was he winking at me or is his eye faulty!
‘If you are stranded in some other country, either because, your visa has expired or your documents are wrong or just because your name is Khan, it will become easy for the Indian govt. to help you, if they have a record of you being a good citizen. What will help more than having a good Tax record?’
He knows his movies! I nodded an agreement, thinking of the movie, My Name is Khan.
‘Obviously, you will show more interest in learning about the country (like inflation index, economy of the country) only because you want to be informed about latest developments. So, it will be useful if you want to open new ventures.’
His mouth gave a weird twitch and he was smiling. He looked at the tea cups in front of him.
‘You will have no problem getting loans and visas. How do you think I got mine? By filing returns and paying taxes , of course! Also , there is less chance of you getting involved in shady deals, because you will have to show everything in your returns.’
Thank God I am not as shady as he thinks I am! I see that he is favouring the larger cup, which I guess is his own.
‘The best thing about filing a return is you become more disciplined about your finances, observing with a hawk eye, where your expenditure and payments are going.’
On the dot! He must have guessed, how much I love spending money, so he brought this up. (My income is diverted into expenditure, mostly through shopping clothes and shoes!)
He puts water into both the cups. He is smiling once again.
‘Govt. encourages joint families by considering it as a single entity. If yours is a joint family business, then you have to file only one tax return.
I smile with him. I imagine this…
‘You can construct a house and get a tax incentive, like Amitabh Bachchan in Deewar, you can have a car and a house if you file returns and have maa living with you, since you are a law abiding citizen also!’
Mere paas gaadi hai, bungalow hai aur maa bhi ! (I voice the dialogue in a whisper ,while trying to sound like the baritone hero…)
Baba TaxDev laughed out loud. He is cooler than I thought he was!
‘Not just one house, you can have two!’, he says with a wink again.
I smile away. (I begin to ignore his winks and his crooked smile and see him like he is , Tax guru)
‘Like Shah Rukh Khan helps villagers in Swades, you can help poor farmers in villages by turning into a financier. Agricultural income is not taxable’, he said.
I began imagining myself on a bullock cart, singing songs in local dialect!
(I know the pic is not mine but of Gracy Singh on the bullock cart. But from a long shot, it could be me! 😛 )
He puts a tea bag each in both the cups.
‘If everyone starts paying taxes and filing returns, then the slab rates will reduce and down the line, the taxes we pay get reduced , leaving more money in our hands and demand for goods increases , creating jobs. It is a cycle. So pay your taxes’, he said taking a spoonful of honey.
Did I forget to say Baba TaxDev is very health conscious. The tea bags are of green tea leaves. He takes spoonful of honey into his hands…
‘Aha!’, he said looking at the honey in his hand. ‘Chanakya, the early economist once said that, the taxes should be collected like a bee collects honey from a flower, less in quantity and in a painless fashion!’ he added.
Chanakya neethi, I whisper again.
‘When more people begin to pay taxes, the tax rates come down and govt. has surplus funds in hand, the country becomes strong and respectable. All this is possible just because you and I pay taxes.’
He began flexing his muscles to symbolize that India will be stronger! Somehow , I thought he was trying to remind me of Salman Khan in his innumerable movies flexing muscles.
Being Human, I mouthed instinctively. (I remembered all the t-shirts Salman Khan wears, have being human printed on them, which is a charity he supports)
Baba TaxDev, looked at me and said, ‘Being human? Aha, charities!’, he added, ‘Donations for national relief funds get you tax deductions. That is Government’s way of encouraging you to donate and promote social responsibility. Even you can rest assured that you have helped people in their time of need.’
He stirred the green tea with the spoon and tapped it lightly on the rim, before putting the spoon away.
‘If you are not comfortable filing returns, you can consult tax consultants for a nominal fee. But if you are up to the challenge, basic computer knowledge is all you need’, he said taking the tea cup into his hands.
‘When the company you work for deducts more tax from your income than required , you can get back your rightful money by filing a return’,he said. (I didn’t interrupt him, I had a feeling the lecture was coming to an end.)
‘You know ,the Deity of Lord Balaji of Tirupati , has been deemed to be an artificial juridical person and subject to taxation. He has also been implicated in tax evasion cases! Then why are you and I, going to be an exception?’ he asked gulping down the green tea in one quick motion.
I take my cup in hand and begin drinking the green tea. Food for thought!
Check out the cool video
2. Disclaimer : The above story of Baba TaxDev is purely part of my imagination and in the post I have freely used Bollywood content to make it more entertaining. I have no intention of hurting anyone, in anyway.