Have you filed your Income Tax returns?

By Bala | Bala | 8 Aug 2022

Paying our taxes is one of the integral things as a citizen of the country. Even though some people are against the tax system, I personally think that taxation is significant and that's what makes a country a safe place to live. I understand that governments make mistakes and they waste the tax money on schemes that are not even good. But I guess it is a problem everywhere and we have to find a solution for that but instead focusing on removing the tax system completely is not a good thing at all.

I remember one of my friends used to say how safe we are in India. There are countries in the world where when we step out of the house, there will be people with guns who randomly shoot at people. We are thankful to the government that we are able to roam freely even in remote places and also during late night when there is a need for enough safety.



The amount we give from the tax money is used for various things. People might complain saying that it is being unnecessarily spent on the politicians and they have so many benefits that are not even required. I agree to some extent but there are also other places where our tax money goes and makes us feel safe about everything. The next concern that is raised by people is the fact that the tax amount is very high. I understand there are many countries all over the world that charge very low taxes on their citizens. Some countries don't even collect any tax from their citizens. Those countries have a high cost of living and at the same time, they are developed to a greater extent so that the government doesn't rely on the tax money.

Talking about taxation, in general, is a controversial topic. Some people find this important and some people complain about the tax system and how they want it to be better. In India, we have up to 30 percent income tax. If we are working for an employer, we might have our tax deducted at the source and we would receive a Form 16 which can then be used to verify with the government and apply for any returns if we have. Last month 31st was the last date to file income tax returns. This is a procedure in which we declare what is our income and if we have any returns or exemptions. Even if we have zero returns, it is always a good practice to file income tax returns.



A few years back it was very hard to file income tax returns from government websites. In the last few years, things have changed and we are able to file income tax returns without any problem. Only in the last few days, we will have system hiccups but otherwise, the procedure is straightforward and the website is friendly enough for everyone to go and file their income tax returns if they have a Form 16 with them. I have also filed my returns for this year and expecting some amount as a return. Hopefully, others who are in India would have also filed their Income tax returns I believe.

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