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This is absolute Tax Terrorism

AlooDum

AlooDum

TF Premier
ICICI Bank has charged me Rs. 590 for a failed SIP transaction.

I mean such a penalty is expected when a person misses their credit card or EMI payment which they are liable to pay to the bank as they owe it. But considering this failed transaction is related to failed SIP these charges are hard to digest.


Also I understand that bank sets mandate system for Auto debiting, a system they built for convenience, & hence charges fee if sufficient balance is not available in savings account.

But why on earth does government gets Rs. 90 for this??



This is pure tax terrorism, first pay 31.2% TDS on salary, then pay transaction charges for SIP, then pay LTCG/STCG for any profit you make. In between this additional charges for doing nothing🤷🏻‍♂️


Really hopeless

Screenshot 2025-08-14 at 8.33.48 AM.webp
 
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Very true, there is no other way out. Some ways I am trying out is -
1. Cry and rant on social media,
2. Leave the country and go to some other country (but everywhere it is almost the same). or
3. Start a govt of my own.

Whichever party comes in to rule, same thing only is going to happen.

Since none of these are possible, some people do what they can:
1. Steal some govt properties, starting from office stationery, to tubelight, bulbs and what not.
2. Evade tax, don't show much in ITR. (It was possible till last few years, now that is also being caught due to this AI shit)
3. Start a business that deals with cash mainly - like build a temple.
3. Become a political leader and eat and enjoy with tax payers money. (this is not easy for everyone, but start with your residents association, or apartment group, become a local ward counsellor, get some local support, and slowly become a big shot.)

Tell me if there are other possible ways to reduce this mental pain of paying taxes and getting nothing in return.
 
I missed one ₹2K SIP recently—no penalty from the mutual fund, but the bank can still charge if the auto-debit fails.

To me, SIP is just like lump-sum investing—if I miss it, it’s just a missed investment. It’s like if a NEFT fails, I sort it out with the person directly—why should the bank take a charge in between?

Now I just keep enough balance before the SIP date or use the pause option to avoid these fees.
 
Chiraggyl said:
I missed one ₹2K SIP recently—no penalty from the mutual fund, but the bank can still charge if the auto-debit fails.

To me, SIP is just like lump-sum investing—if I miss it, it’s just a missed investment. It’s like if a NEFT fails, I sort it out with the person directly—why should the bank take a charge in between?

Now I just keep enough balance before the SIP date or use the pause option to avoid these fees.
Click to expand...
And the same banks take their own sweet time to credit our interests etc
 
cardio_guy said:
Very true, there is no other way out. Some ways I am trying out is -
1. Cry and rant on social media,
2. Leave the country and go to some other country (but everywhere it is almost the same). or
3. Start a govt of my own.

Whichever party comes in to rule, same thing only is going to happen.

Since none of these are possible, some people do what they can:
1. Steal some govt properties, starting from office stationery, to tubelight, bulbs and what not.
2. Evade tax, don't show much in ITR. (It was possible till last few years, now that is also being caught due to this AI shit)
3. Start a business that deals with cash mainly - like build a temple.
3. Become a political leader and eat and enjoy with tax payers money. (this is not easy for everyone, but start with your residents association, or apartment group, become a local ward counsellor, get some local support, and slowly become a big shot.)

Tell me if there are other possible ways to reduce this mental pain of paying taxes and getting nothing in return.
Click to expand...
Option 2 I prefer
Mostly every new millionaire does it
 
cardio_guy said:
Very true, there is no other way out. Some ways I am trying out is -
1. Cry and rant on social media,
2. Leave the country and go to some other country (but everywhere it is almost the same). or
3. Start a govt of my own.

Whichever party comes in to rule, same thing only is going to happen.

Since none of these are possible, some people do what they can:
1. Steal some govt properties, starting from office stationery, to tubelight, bulbs and what not.
2. Evade tax, don't show much in ITR. (It was possible till last few years, now that is also being caught due to this AI shit)
3. Start a business that deals with cash mainly - like build a temple.
3. Become a political leader and eat and enjoy with tax payers money. (this is not easy for everyone, but start with your residents association, or apartment group, become a local ward counsellor, get some local support, and slowly become a big shot.)

Tell me if there are other possible ways to reduce this mental pain of paying taxes and getting nothing in return.
Click to expand...
You become bheshtha fraanddd with government. That way they will forget to bill you or you will get rebates for defrauds or give you jobs when you become npa/bankrupt
 
bank is providing you a service when it allows you to use auto debit for sip etc...it's a service charge...it used to happen in pre gst era as well...nothing new in this....
 
ve earn income we pay tax
we buy something with it we pay tax
we save that money we pay tax
we invest that money we pay tax
If we insure ourselves with that money we pay tax
we fail to buy something from that money we pay tax
our txn declines we pay tax

so we are taxed on the SAME MONEY 4-5 times at least.
 
Last edited:
kuchbhi said:
ve earn income we pay tax
we buy something with it we pay tax
we save that money we pay tax
we invest that money we pay tax
we fail to buy something from that money we pay tax
our txn declines we pay tax

so we are taxed on the SAME MONEY 4-5 times at least.
Click to expand...
They literally taxed me for not having investment money, seriously🫥

Imagine being taxed for being poor🥲
 
kuchbhi said:
ve earn income we pay tax
we buy something with it we pay tax
we save that money we pay tax
we invest that money we pay tax
we fail to buy something from that money we pay tax
our txn declines we pay tax

so we are taxed on the SAME MONEY 4-5 times at least.
Click to expand...
Why not companies pay our salaries directly to IT dept ,so that they can give some chillar to us whatever they wish
 
AlooDum said:
ICICI Bank has charged me Rs. 590 for a failed SIP transaction.

I mean such a penalty is expected when a person misses their credit card or EMI payment which they are liable to pay to the bank as they owe it. But considering this failed transaction is related to failed SIP these charges are hard to digest.


Also I understand that bank sets mandate system for Auto debiting, a system they built for convenience, & hence charges fee if sufficient balance is not available in savings account.

But why on earth does government gets Rs. 90 for this??



This is pure tax terrorism, first pay 31.2% TDS on salary, then pay transaction charges for SIP, then pay LTCG/STCG for any profit you make. In between this additional charges for doing nothing🤷🏻‍♂️


Really hopeless

View attachment 106626
Click to expand...
You forgot STT
 
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