Advance Tax Due Date - 15th March

Today is 15th March' 2025. Due Date to deposit 4th Installment of Advance Tax for the FY 2024-25 for those who are liable to pay Advance Tax.

Unfortunately, No one likes to pay taxes, not because people are greedy, but they have trust issues with government. Then further there’s the complexity. Advance tax itself is a hassle - estimating income months ahead, calculating slabs, and hoping you don’t overpay (refunds are a slog) or underpay (paying penalties later). Add to that the opacity - where exactly does your tax go? Is it schools, hospitals, or some MLA’s private jet? Without clear accountability, the trust erodes further.

Rajiv Gandhi, during his tenure as Prime Minister of India, remarked in 1985 in drought-affected Kalahandi district in Odisha that "of every rupee spent by the government, only 15 paise reaches the intended beneficiary." This statement, often paraphrased as "only 15% reaches the people," was made to highlight the inefficiencies and leakages in the delivery of government welfare schemes.

Not only in India, but all over the world People often dislike paying taxes to the government for a mix of psychological, economic, and philosophical reasons. Here’s a breakdown of why this sentiment is so common:

■ Loss of Control: Handing over hard-earned money to someone else -especially a faceless bureaucracy—feels like losing autonomy. People want to decide how their money is spent, and taxes take that choice away, funneling it into a system they don’t directly steer.

■ Perceived Waste: Many believe governments misspend tax rupees on inefficient programs, bloated bureaucracies, or projects that don’t benefit them personally. Stories of corruption, pork-barrel spending, or lavish government perks (like politician salaries or unnecessary buildings) fuel this frustration.

■ Lack of Tangible Return: Taxes often fund abstract or long-term things—roads, schools, defense—that don’t feel like immediate, personal wins. If someone’s paycheck shrinks but their daily life doesn’t visibly improve, it’s easy to see taxes as a burden rather than a trade-off.

■ Inequity: The system rarely feels fair. Some resent the rich dodging taxes through loopholes, while others feel the middle and working classes bear the brunt.

■ Behavioral Economics: Humans hate loss more than they love gain - it’s called loss aversion. Losing ₹5000 to taxes stings worse than gaining ₹5000 in benefits feels good, even if the net effect balances out.

■ Historical Baggage: Taxes have been a spark for rebellion forever - think Boston Tea Party or Magna Carta. That “no taxation without representation” vibe still lingers in the collective psyche, especially when people feel voiceless.

But It doesn't make any difference. Like or not, In life two things can't be avoided, Death and Taxes. Have to Pay Taxes, Now as Due or Later with Interest and Penalty. Thanks.