Feeling Like You’re Paying for Your Own Money? You’re Not Alone.
Thank you for reading this post, don't forget to subscribe!An executive’s viral LinkedIn post has struck a chord with India’s salaried class, exposing the frustrating reality of being taxed not once, not twice, but seemingly seven times on the very same income. It’s a system that feels less like contributing to the nation and more like a “subscription plan for my own money,” or as he puts it, “Tax-as-a-Service (TaaS).”
The widely shared sentiment, ignited by Gurgaon-based VP Sachin G.’s blunt breakdown, echoes the frustration of countless professionals who earn honestly, only to see their income repeatedly whittled away by various levies. As CMO Amit Tilekar originally questioned, why are we paying taxes on income and then again on almost every expense?
Sachin G.’s answer? It’s relentless. Even after the government takes its initial cut through TDS (Tax Deducted at Source), the remaining “income” in your account is subject to a continuous barrage of deductions every time you use it. “Same money. Taxed again. And again. And AGAIN,” he wrote, highlighting the unavoidable nature of these taxes for the honest earner.
The Seven-Layer Tax Burden:
Here’s how Sachin G. outlined the multiple layers of taxation that can feel like a squeeze at every turn:
- Income Tax: The fundamental tax on your earnings.
- GST (Goods and Services Tax): Applied when you buy food, services, and countless other everyday items.
- Excise Duty: Baked into the cost of things like fuel for your car.
- VAT (Value Added Tax): Still applicable on certain goods, adding another layer to your purchases.
- Stamp Duty: A significant cost when you buy property.
- Property Tax: An ongoing annual tax just for owning that property.
- Capital Gains or Dividend Tax: Levied if you wisely invest your money and see a return.
While Sachin clarified he’s no economist, his coined phrase “Tax-as-a-Service (TaaS)” perfectly encapsulates the feeling: you’re constantly paying to access and use the money you’ve already earned. This growing unease among professionals isn’t about evading taxes, but rather the sheer lack of financial breathing room as their honest earnings are squeezed from every direction.
Does this “Tax-as-a-Service” model resonate with your own experience?
