IITian Earning Rs 1 Crore Borrowed Rs 15,000 to Pay Tax Before ITR Deadline, CA's Viral Post Sparks Financial Literacy Debate:

When the ITR filing deadline is just around the corner, a post is catching everyone's attention on social media. The post has been shared by a chartered accountant (CA) named Pratibha Goyal, wherein she has described the story of an IITian client who seemed rich on paper but was suffering from a severe liquidity crisis.

CA Pratibha Goyal shares that she filed the ITR of an IIT graduate who had been earning more than Rs 1 crore annually over the past five years. Along with this, the client owned three houses, among which two are under construction. Despite having such a wealthy background, the client told Goyal that he does not have enough liquid cash to pay a normal outstanding tax liability of Rs 15,000, and consequently, he requested her to wait till August.

Later, he borrowed money to pay the tax liability of Rs 15,000, and thereafter his return was furnished. Goyal said that if the client had paid tax after the deadline, they would have had to pay extra interest. To avoid this, the client borrowed money, paid the tax on time, and filed the Income Tax Return (ITR). Goyal shares in her post that this is a perfect example of why financial literacy plays a vital role.

In the post, CA Pratibha Goyal wrote, "Just filed ITR of one of my IITian client! He is a young guy having package of 1Cr plus since 5 years. Has 3 houses out of which 2 projects are WIP.

He told me he had no money to pay taxes of Rs. 15K and wanted me to wait till August so that his salary comes and we can pay the taxes. Later he borrowed money to pay tax and file ITR because August meant more interest! It’s high time we need Financial literacy in our country!"

Just filed ITR of one of my IITian client!

He is a young guy having package of 1Cr plus since 5 years.

Has 3 houses out of which 2 projects are WIP.

He told me he had no money to pay taxes of Rs. 15K and wanted me to wait till August so that his salary comes and we can pay the…

— July 27, 2026

Several users have shared their opinions on this post. One user commented that "He is my neighborhood Rapido driver's friend who had to borrow money to even reach your place. Now you have to believe my story. Because you seem to be a fan of cock n bull stories." Another user wrote that "Can't believe an IITian who are good at handling complex logic, couldn't manage income - expense math."

Another chartered accountant, CA Nitin Kaushik (FCA), wrote that "everyone who calls thos attention seeking is simply fool and has no idea who much Indians lack financial literacy. Most of my clients who come to me citing liquidity crisis are people above packages of 50 Lakhs."