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Showing posts from February, 2007

An idiot's view on filing tax returns!

The other day I was washing dishes at home (Bachelors like me need to take care of lots of things, you know!) and one acquaintance of mine suddenly offered help by saying "Hey! I can do the tax planning for you. Get me your pay-slip!". This chap is a CA by profession and so is definitely capable of helping but I wondered at the odd time of his question. May be I would have been more happy had he offered to wash some dishes! Anyways, I replied back saying "Thanks! But I don't think you can save much there". To which, he replied "Why? You can definitely save. How much is your HRA?" I said "I always show the *exact* rent which is Rs.1500/month this time". Then he immediately cried "Idiot" & continued by saying, "Idiot you are! You can easily save around 20K if you show more house rent than actual". When I replied that I knew about this saving, he stared at me unbelievably and said "Why do you want to give money to t…