Many professionals shared stories of clients facing tax payment challenges despite high salaries. Critics of the government highlighted reduced tax exemptions and a lack of financial literacy.
pay taxes. He asked Gupta to wait until August for payment. He said his salary would arrive by then.
He eventually borrowed money to pay the tax instead. This avoided extra interest charges that August would have incurred. Gupta used the story to highlight financial literacy concerns. She said India urgently needs greater financial awareness.
“It’s high time we need financial literacy in our country!” she wrote.
Social Media Reaction
The post has sparked a wide range of reactions online. Many questioned how a high earner faced such difficulty.
One commenter called the post “clickbait and fake”, questioning the low tax figure. Others tried to explain the apparent contradiction more sympathetically.
Some suggested ESOPs likely consumed much of his declared package. This would leave his actual cash income considerably smaller. One person noted that ESOPs were not liquid cash.
According to one user, high income doesn’t guarantee sound money management. “I don’t understand why that’s a problem. It’s surely possible that people are not managing money right and exceeding their income. High income doesn’t always translate to better savings,” the user wrote.
Several users pointed to multiple EMIs as a factor. They said loan repayments could explain his cash shortage.
One estimate put the client’s tax liability at around ₹25 lakh. “He is paying close to 25 L as tax, so if he has multiple EMIs, he needs to borrow. More EMIs might be the reason,” the user wrote.
Others shared similar experiences from their own professional practice. One CA described a client with a huge package doing the same. That client also paid taxes via credit card and borrowing. “Same in our client’s case. Huge package, ask to pay via credit card and borrowing,” the user wrote.
Some commenters criticised the government rather than the client himself. They blamed the reduction in tax exemptions specifically on savings schemes.
“It has nothing to do with financial literacy. He was too literate, and it burned his little heart to pay money to an illiterate government. That is all,” one user wrote.
About the Author
Sounak Mukhopadhyay
Sounak Mukhopadhyay covers trending news, sports and entertainment for LiveMint. His reporting focuses on fast-moving stories, box office performance, digital culture and major cricket developments. He combines real-time updates with clear context for everyday readers.
Sounak brings newsroom experience across breaking news, explainers and long-form features. He has a strong emphasis on accuracy, verification and responsible storytelling. His work tracks audience behaviour, celebrity influence and the business of sport and cinema. He helps readers understand why a story matters beyond the headline.
Sounak has contributed to widely read digital publications. He continues to build a body of journalism shaped by consistency, speed and editorial clarity. He is particularly interested in the intersection of media, popular culture and public conversation in contemporary India.
At LiveMint, he writes daily coverage as well as analytical pieces that interpret numbers, trends and cultural moments in accessible language. His approach prioritises factual depth, balanced framing and reader trust. The reporting aligns with modern newsroom standards of transparency and credibility.
Outside daily reporting, he explores storytelling across formats including podcasts, filmmaking and narrative non-fiction. Through his journalism, Sounak aims to document the rhythms of modern entertainment and sports while maintaining rigorous editorial integrity.
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HomeNewsTrends ₹1 crore package, no money to pay tax: Social media reacts to CA’s post, ‘High income may not mean better savings’
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