Prajna Capital - An Investment Guide

It's that time of the year again. You knew all along that it would come, whether you ignored or waited for it. The pages of the calendar have turned and you can hear colleagues waking up to it. And you know you can't run away from it any more. We are talking about 31 July, the day we are reminded of our bondage, the price we have to pay for many of the good things in our life. This happens to be the last day for filing income tax returns for all salaried Indians, be they resident or non-resident. Of course, you must have done everything legally possible to maximise your freedom from this bondage called tax. But then, the law permits you only that much. The rest, as they say, is illegal. You might also have wondered about the word return being used for an outgo. Maybe it's because governments always want citizens to see things from their point of view, perhaps for the larger good. Filing of tax is compulsory for everyone whose gross total income - the income under the five h...