Did you know close to 43 percent of your annual income goes in taxes? Don’t believe it? Check out this video

It’s July 24. It’s Income Tax Day. No, really. India celebrates July 24th as Income Tax day. In fact, it is the 158th anniversary of this celebration.

With the July 31st tax deadline fast approaching, Indians are focussed on income tax returns (IT returns). Most people assume that the tax that gets deducted from their salaries is the tax that they pay to the government. But what gets missed is that income tax, while important, is just one part of the many taxes that Indians pay annually.

Here’s where Aditya Birla Capital comes in. Taxes don’t have to be complex. They just have to be explained in a simplified manner. People need to know where they spend their money.

Ever wondered why is a pizza so expensive in a 5-star restaurant? That’s because there are various import taxes in-built into the food cost.

It’s the same for high-end fashion, holidays, salons, and a bunch of other daily essentials. We don’t really consider the implications of these taxes because we don’t think about paying tax daily.

Aditya Birla Capital has a host of Protecting, Investing & Financing Solutions that can help you get down the amount of money that you pay as taxes. As an added bonus, all of their financial options help you lead a life you truly desire too.

Watch the video below to know more.

This is a partnered post.

Updated Date: Jul 28, 2018 12:09:47 IST