How is investing in Gold ETF better than jewellery?
What is the right way to invest in gold? Why should you not invest in gold jewellery? What is the benefit of investing in Gold ETF? What should be the share of gold in the portfolio?
The country’s population is 140 crore and not even 2.25 crore people do not pay income tax. Due to the government’s efforts, the number of individuals filing income tax returns has steadily increased in the last 5 financial years. However, despite the increase in the number of return filers, only about 2 crore people are currently paying income tax. According to information provided in parliament, in the financial year 2022-2023, 7,40,09,046 people have filed income tax returns. In the financial years 2021-22, 2020-21, 2019-20, and 2018-19, 6,94,37,383; 6,72,06,388; 6,47,88,494; and 6,28,30,105 people filed returns, respectively.
According to the information given in parliament, in the financial year 2022-2023, 5,16,15,155 people did not pay any taxes, while 7,40,90,046 filed income tax returns. In the financial years 2021-22, 2020-21, and 2019-20, 5,05,46,941, 4,84,69,916, and 2,90,36,234 people did not pay any taxes, respectively.
According to the figures, the government’s net direct tax collection for the financial year 2022-23 is Rs 16,63,686 crore (provisional). In the financial years 2021-22, 2020-21, 2019-20, and 2018-19, the direct tax collection was recorded at Rs 14,12,422 crore, Rs 9,47,176 crore, Rs 10,50,681 crore, and Rs 11,37,718 crore, respectively.