I come from a tech background and very obviously we engineers are never taught about paying taxes, doing investments or even what diversifying one’s portfolio means! So lately, I’ve been going on calls every two weeks to help my juniors, who just graduated, understand what taxes and investments are all about.

Most of my understanding comes from one of my seniors who himself got on a call with me and help me understand taxes.

Why pay your hard-earned money to the government in the first place?

So let’s start by comparing a typical family and the country. As part of your family, you’re the person who contributes to the family in a monetary sense. While there are other people who contribute in another manner, some who manage the household chores, some take care of the grandparents, some just keep the morale up (more power to the unsung heroes, our siblings :) Everyone supports the family in some manner and capacity. In the same way, some citizens of India contribute to the country in a monetary sense i.e. pay taxes and some provide services that support the country in other ways, could be by providing security such as Police, roads, hospitals, schools and much more. By paying taxes, you are acting as one of the responsible members of the family and supporting the nation. The government then uses this money to pay its employees and support the underlying infrastructure of the country.