{"id":5729,"date":"2023-03-24T17:58:32","date_gmt":"2023-03-24T17:58:32","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=5729"},"modified":"2026-02-24T13:40:52","modified_gmt":"2026-02-24T13:40:52","slug":"why-do-you-pay-taxes","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/","title":{"rendered":"Why do you Pay Taxes?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The intricacies of tax are up to the next level to interpret. Has there been an instance where you haven\u2019t paid tax?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Be it while you were joying over the delicacies at a restaurant, watching a featured film in the theatre, or when you receive your income. It isn\u2019t just over!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So if you questioned why? It has a reason, which you must know rather than simply paying taxes without any understanding.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#Where_is_the_tax_going_anyway\" >Where is the tax going anyway?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#Which_is_the_5th_Largest_Economy_India\" >Which is the 5th Largest Economy? India!<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#Digging_deep_for_a_closer_look_at_the_concept\" >Digging deep for a closer look at the concept<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#Whos_pulling_the_strings_of_Indias_Monetary_Policy\" >Who&#8217;s pulling the strings of India&#8217;s Monetary Policy?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#What_happens_to_the_revenue_collected\" >What happens to the revenue collected?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#Sometimes_there_comes_a_time_to_borrow\" >Sometimes there comes a time to borrow<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#Tax_isnt_a_burden_but_a_responsibility_indeed\" >Tax isn\u2019t a burden but a responsibility, indeed!<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#The_Dollars_Resilience_Why_its_still_the_Worlds_Go-to-Currency\" >The Dollar&#8217;s Resilience: Why it&#8217;s still the World&#8217;s Go-to-Currency?<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Where_is_the_tax_going_anyway\"><\/span><b>Where is the tax going anyway?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Do we realize that running a country with a humongous population isn\u2019t easy? How do they even run?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The government needs money and that comes from the citizens of the country. It\u2019s not just in India but in every other economy as well.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In India, the system of taxation is set by the government be it Central, State, Local, or Municipality.\u00a0 Well, no other entities can enforce it except the law.\u00a0<\/span><\/p>\n<h4 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Which_is_the_5th_Largest_Economy_India\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/essentials\/which-is-the-5th-largest-economy-india\/?utm_source=blog&amp;utm_medium=blog&amp;utm_Tax\"><strong>Which is the 5th Largest Economy? India!<\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h3><span class=\"ez-toc-section\" id=\"Digging_deep_for_a_closer_look_at_the_concept\"><\/span><b>Digging deep for a closer look at the concept<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">When you pay tax, it is like a receipt for the government which it uses to pay the expenses that may be recurring or non-recurring. For instance, paying salaries for government employees is a recurring expense while pouring capital into <a href=\"https:\/\/goldenpi.com\/collections\/bonds-for-long-term-investment\" target=\"_blank\" rel=\"noopener noreferrer\">long-term investments<\/a> like urban development is a non-recurring expense.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Government receipts and expenses are two concepts to look at, to know what happens with the taxes you pay. If you think the government is running the entire country with taxes alone, then you are wrong.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Receipts are nothing but the revenue collected by the government whereas expenses are the payments that the government clears to run the operations and to keep the country going.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per the <a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/union-budget-2023-2024\/\" target=\"_blank\" rel=\"noopener noreferrer\">union budget 2023<\/a> declaration, the revenue collected from tax constitutes 58% of the total receipt. If you just think about it, the remaining 42% is from other sources and which is from non-tax receipts and capital receipts.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, a tax receipt of 58%, a non-tax receipt of 6%, and a capital receipt of 36% cumulatively make up 100% of the receipt. Now you know that tax revenue alone is not contributing to the total receipt.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On a general note, the majority of the tax revenue is from 17% of GST (Goods &amp; Services Tax). <\/span><span style=\"font-weight: 400;\">There are various other sub-divisions in the receipts, but just for a brief understanding, knowing about the major classification is sufficient to start with.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most of the taxpayers in India find paying taxes as a burden but it is important to understand that paying taxes is for \u201cCivilization\u201d.\u00a0 Well said by Justice Homes of the US Supreme Court, \u201c<strong><em>Tax is a price for civilization<\/em><\/strong>\u201d<\/span><\/p>\n<h4 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Whos_pulling_the_strings_of_Indias_Monetary_Policy\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/essentials\/money-matters-whos-pulling-the-strings-of-indias-monetary-policy\/?utm_source=blog&amp;utm_medium=blog&amp;utm_Tax\"><strong>Who&#8217;s pulling the strings of India&#8217;s Monetary Policy?<\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h3><span class=\"ez-toc-section\" id=\"What_happens_to_the_revenue_collected\"><\/span><b>What happens to the revenue collected?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Government falls under 2 types of expenses. One is capital expenses and the other one is revenue expenses.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Capital expense is the one that is used for economic purposes. For say, building airports, installing steel plants, and many such implementations. These expenses are like an asset to the country, finishing which results in collecting greater revenue.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other end, revenue expenditure is not an asset or neither a liability for the government. It is spent on internal operations such as paying bills in the government office and clearing salaries to the employees, amongst many others.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Having said that, it\u2019s just a brief of the expenses under two buckets, but there are various subdivisions in it.\u00a0 In fact, <\/span><span style=\"font-weight: 400;\">20% of the expense is taken by the interest payment, followed by 17% for the state&#8217;s share of taxes &amp; duties. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of Jan 2023, India reported a tax revenue of $16.273 Billion. <\/span><span style=\"font-weight: 400;\">This gives us clarity as to where the collected revenue is moving.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sometimes_there_comes_a_time_to_borrow\"><\/span><b>Sometimes there comes a time to borrow<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The terminology called fiscal deficit comes into the act when the total revenue is lesser than the expenditure. During this time the government borrows money to keep the economy running.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But it might lead to paying a larger interest rate to have borrowed money than having collected sufficient tax revenue. When the government borrows money for purposes like capital expenses, it is still worth it.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tax_isnt_a_burden_but_a_responsibility_indeed\"><\/span><b>Tax isn\u2019t a burden but a responsibility, indeed!<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Most of our perspective towards tax might seem like it\u2019s a burden but in fact, it is adding up for the GDP.\u00a0 A country is said to have good economic health when the Tax to GDP ratio is higher. And mostly all the developed countries at the present have achieved it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As you see that India has become the 5th largest economy, and our contribution to the country can elevate it to the next higher position. Though the tax system might come out like an obligation to the citizens, it is the only means to help the government in running the economy effectively.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In India, only about 8.2 crores population out of 182 crores are paying taxes. Whereas few of the large private sectors are exempted from paying tax. The essential reasons are also that tax rates are high while the tax contribution rate is lower and on the other end, there is low per capita income and a high rate of poverty, leading to insufficient revenue.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The government must come up with an efficient taxation system going forward that not just keeps the economy moving but as well keeps the citizens happy.<\/span><\/p>\n<p>After all, the reason people of a country pay taxes to the government is that the government shall improve the standard of living of the entire population using the capital that they collectively receive from the citizens nationwide. It is a legal obligation that instills a sense of pride in the face of a responsible citizen. Because, without such a population, the fabric of society will rip apart and will end up being dysfunctional!<\/p>\n<h4 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"The_Dollars_Resilience_Why_its_still_the_Worlds_Go-to-Currency\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/essentials\/the-dollars-resilience-why-its-still-the-worlds-go-to-currency\/?utm_source=blog&amp;utm_medium=blog&amp;utm_Tax\"><strong>The Dollar&#8217;s Resilience: Why it&#8217;s still the World&#8217;s Go-to-Currency?<\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>The intricacies of tax are up to the next level to interpret. Has there been an instance where you haven\u2019t paid tax?\u00a0&hellip;<\/p>\n","protected":false},"author":4,"featured_media":12008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[151],"tags":[],"class_list":["post-5729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-matters"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why do you Pay Taxes? - GoldenPi | Blogs<\/title>\n<meta name=\"description\" content=\"Why do you Pay Taxes?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why do you Pay Taxes? - GoldenPi | Blogs\" \/>\n<meta property=\"og:description\" content=\"Why do you Pay Taxes?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/\" \/>\n<meta property=\"og:site_name\" content=\"GoldenPi | Blogs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/goldenpitech\" \/>\n<meta property=\"article:author\" content=\"goldenpitech\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-24T17:58:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-24T13:40:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/03\/24134042\/Why-Do-You-Pay-Taxes.png\" \/>\n\t<meta property=\"og:image:width\" content=\"731\" \/>\n\t<meta property=\"og:image:height\" content=\"347\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@GoldenPiTech\" \/>\n<meta name=\"twitter:site\" content=\"@GoldenPiTech\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/\",\"url\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/\",\"name\":\"Why do you Pay Taxes? - GoldenPi | Blogs\",\"isPartOf\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/03\/24134042\/Why-Do-You-Pay-Taxes.png\",\"datePublished\":\"2023-03-24T17:58:32+00:00\",\"dateModified\":\"2026-02-24T13:40:52+00:00\",\"author\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/7b7afc706617dbf29357675946045722\"},\"description\":\"Why do you Pay Taxes?\",\"breadcrumb\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#primaryimage\",\"url\":\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/03\/24134042\/Why-Do-You-Pay-Taxes.png\",\"contentUrl\":\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/03\/24134042\/Why-Do-You-Pay-Taxes.png\",\"width\":731,\"height\":347,\"caption\":\"tax payment\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/goldenpi.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why do you Pay Taxes?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/goldenpi.com\/blog\/#website\",\"url\":\"https:\/\/goldenpi.com\/blog\/\",\"name\":\"GoldenPi | Blogs\",\"description\":\"All about bonds online in India\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/goldenpi.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/7b7afc706617dbf29357675946045722\",\"name\":\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/753eff78609551874c9773d3bee5eeab7bba3aa40f99a8b2405592eed9d9df89?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/753eff78609551874c9773d3bee5eeab7bba3aa40f99a8b2405592eed9d9df89?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g\",\"caption\":\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\"},\"description\":\"With over 15 years of experience across fixed income and debt markets, he brings deep domain expertise along with a strong focus on investor education and transparency. An alumnus of IIT Kharagpur and IIM Calcutta, his views are personal and should not be considered investment advice.\",\"sameAs\":[\"goldenpitech\",\"https:\/\/www.linkedin.com\/company\/goldenpi\/\",\"https:\/\/x.com\/GoldenPiTech\"],\"url\":\"https:\/\/goldenpi.com\/blog\/author\/goldenpi\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why do you Pay Taxes? - GoldenPi | Blogs","description":"Why do you Pay Taxes?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/","og_locale":"en_US","og_type":"article","og_title":"Why do you Pay Taxes? - GoldenPi | Blogs","og_description":"Why do you Pay Taxes?","og_url":"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/","og_site_name":"GoldenPi | Blogs","article_publisher":"https:\/\/www.facebook.com\/goldenpitech","article_author":"goldenpitech","article_published_time":"2023-03-24T17:58:32+00:00","article_modified_time":"2026-02-24T13:40:52+00:00","og_image":[{"width":731,"height":347,"url":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/03\/24134042\/Why-Do-You-Pay-Taxes.png","type":"image\/png"}],"author":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi","twitter_card":"summary_large_image","twitter_creator":"@GoldenPiTech","twitter_site":"@GoldenPiTech","twitter_misc":{"Written by":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/","url":"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/","name":"Why do you Pay Taxes? - GoldenPi | Blogs","isPartOf":{"@id":"https:\/\/goldenpi.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#primaryimage"},"image":{"@id":"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#primaryimage"},"thumbnailUrl":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/03\/24134042\/Why-Do-You-Pay-Taxes.png","datePublished":"2023-03-24T17:58:32+00:00","dateModified":"2026-02-24T13:40:52+00:00","author":{"@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/7b7afc706617dbf29357675946045722"},"description":"Why do you Pay Taxes?","breadcrumb":{"@id":"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#primaryimage","url":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/03\/24134042\/Why-Do-You-Pay-Taxes.png","contentUrl":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/03\/24134042\/Why-Do-You-Pay-Taxes.png","width":731,"height":347,"caption":"tax payment"},{"@type":"BreadcrumbList","@id":"https:\/\/goldenpi.com\/blog\/financial-matters\/why-do-you-pay-taxes\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/goldenpi.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Why do you Pay Taxes?"}]},{"@type":"WebSite","@id":"https:\/\/goldenpi.com\/blog\/#website","url":"https:\/\/goldenpi.com\/blog\/","name":"GoldenPi | Blogs","description":"All about bonds online in India","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/goldenpi.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/7b7afc706617dbf29357675946045722","name":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/753eff78609551874c9773d3bee5eeab7bba3aa40f99a8b2405592eed9d9df89?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/753eff78609551874c9773d3bee5eeab7bba3aa40f99a8b2405592eed9d9df89?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g","caption":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi"},"description":"With over 15 years of experience across fixed income and debt markets, he brings deep domain expertise along with a strong focus on investor education and transparency. An alumnus of IIT Kharagpur and IIM Calcutta, his views are personal and should not be considered investment advice.","sameAs":["goldenpitech","https:\/\/www.linkedin.com\/company\/goldenpi\/","https:\/\/x.com\/GoldenPiTech"],"url":"https:\/\/goldenpi.com\/blog\/author\/goldenpi\/"}]}},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/5729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/comments?post=5729"}],"version-history":[{"count":18,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/5729\/revisions"}],"predecessor-version":[{"id":6064,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/5729\/revisions\/6064"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/media\/12008"}],"wp:attachment":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/media?parent=5729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/categories?post=5729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/tags?post=5729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}