IITian earning Rs 1 crore had to borrow Rs 15,000 to pay income tax. His CA shares a financial lesson

A high salary and multiple properties are often seen as signs of financial security. But a recent post by Chartered Accountant Pratibha Goyal suggests that a large income does not always translate into healthy cash flow or smart money management. Taking to X, CA Pratibha Goyal shared the story of one of her IITian clients, using it to highlight why financial literacy is just as important as earning a high income.

According to Goyal, her client is a young professional who has been earning a salary package of more than Rs 1 crore annually for the past five years. He also owns three houses, with two of the properties still under construction.

Despite his impressive income and growing real estate portfolio, the client faced an unexpected problem while filing his Income Tax Return. Goyal revealed that he did not have enough money to pay an income tax liability of Rs 15,000.


She said the client initially requested her to wait until August so that his next salary would be credited and the tax payment could be made. However, delaying the payment would have resulted in additional interest charges.
To avoid paying more, the IITian eventually borrowed money to clear the Rs 15,000 tax dues and complete the ITR filing process.


Sharing the incident, Goyal stressed that financial literacy remains a pressing need in the country. The episode, she suggested, shows that even individuals with annual salaries exceeding Rs 1 crore can struggle with liquidity if their finances are not managed effectively. The story serves as a reminder that building wealth is not only about earning more or acquiring assets. Maintaining sufficient cash for routine obligations, tax payments, and unexpected expenses is equally important for long-term financial stability.

Internet reacts

The post triggered a broader discussion on financial literacy and money management among social media users.
One user argued that people dismissing the incident as attention-seeking were overlooking how widespread financial illiteracy remains in India. The person added that many clients approaching them with liquidity problems were earning salary packages of more than Rs 50 lakh annually.


Another commenter suggested that financial education often receives low priority, claiming that teaching people how to manage money effectively would make them more self-reliant. A third user agreed that financial literacy is lacking and said individuals need to invest more time in learning personal financial management.

Another comment emphasised that the issue is not the size of the salary package but how it is managed, pointing to lifestyle inflation as the real problem rather than income itself.