What makes 24th July special? No, it’s not a celebrity’s birthday. It’s special because it happens to be National Income Tax Day. On 24th July 1860, income tax came into effect in India and has been an integral part of our country and economy ever since. The fact that it has a whole day dedicated to it, tells you the prime position it holds in the tax hierarchy.While most people know roughly how much income tax they pay every year, they don’t give a second thought to the indirect taxes they pay every day. This explainer video by Aditya Birla Capital explores the surprising ways we have been unknowingly paying different types of taxes and explains these taxes in an engaging manner that is easy to understand.Learning the #ABCofTaxes and being aware of where your money is going, is the first step towards planning your money and tax savings better. Once you know the different kinds of taxes you’re paying, you can explore various Protecting, Investing & Financing Solutions from Aditya Birla Capital that can help you maximise your tax savings.To find out exactly how much tax you’re paying and how to save it, watch this video. We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated. The Quint is now available on Telegram & WhatsApp too, Click here to join.