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Taxes are your promising guardian

Updated on: 09 Aug, 2023 01:19 PM

Promise…as the name suggests has so much faith and trust embedded in it. Promise is not just a love promise or a friendship promise it's far beyond the curtain…a promise of dedication to work, a promise to do something for society, a promise to live up to expectations of elders, a promise to abide by laws and so on. Basically promise is a commitment, a commitment which derives from the soul and is so firm.

What is the purest commitment??

This valentine’s day we head to find out what is the purest form of commitment?? Can u guess?? Well this is one we all have lived but failed to notice. A promise of a parent to their children, a promise to protect them, a promise to make them a better person, a promise to fulfill all their worldly desires and such endless promises they make to us.

I remember an incident, once told, our elders tend to stop us, direct us, guide us not because they wish to control us. But, because, they are the only one who will be deeply and directly hurt if any loss happens to us. A person who doesn’t care for you will never go against the flow!!

The day changed my vision, can you think of a same yet different angle taxes promise to guard our life in?

Situation if no tax were levied??

What if no taxes were required to be saved? How many of us would have invested 1,50,000 in secured means yearly?? Or even saved any??

Would we have taken LIC and secured our and other lives dependent on us at this level?? Or saved money through PPF with 15 year lock in yielding 7.6% interest per annum?

How many us have shown the courage for first time to invest in risky ventures like tax saving mutual funds in urge to earn returns?

How many elders would have agreed for a detailed routine check up if the same has not benefited them in saving taxes?

Don’t you feel courageous while taking an home loan or education loan knowing the fact that it will help you save tax for the principal and interest paid together with building an asset..

Taxes are our unattained guardian!!

Tax seem to be attacking, but, they are really protecting. They protect us from uncertainties, they help us build a habit to save, to protect our families. By doing all this they help us shape our life in the right direction like a guardian do.

Taxes help us build our future standing on our own feets, like a guardian does. They know we won’t spend on things like health, saving and building asset. So, they direct us being unveiled to secure our lives and protect us from uncertainties. They help us experience a balanced life.

Don’t judge a book by its cover look in and discover!!

It feels painful to pay taxes initially but dear and true friend never shows off, maybe the most sparkling thing we get attracted to is the most disliked later. The things which seem attractive are like bubbles which are colorful for short span of time but consecutively burst your myth out.

Guardian teach us taking first step of life and role of taxes start there after. Taxes help us take our first step to saving, build our first portfolio and owning our first asset that too without seeking for a note of thanks!!

CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.