Inheritance Tax is a bad idea
Seems like Govt of India is considering an inheritance tax. This is a bad idea given that its been not there since 1986 and property ownership is quite complicated in our nation.
Also even if the Govt introduces it rich will form trusts and grant shareholding to family members. It is the middle class that will get stuck with it.
Suggest Govt instead work on bettering the processes around making inheritances easier as suggested in below local circle post.
What ministry handles this subject. Finance?? more
Also even if the Govt introduces it rich will form trusts and grant shareholding to family members. It is the middle class that will get stuck with it.
Suggest Govt instead work on bettering the processes around making inheritances easier as suggested in below local circle post.
What ministry handles this subject. Finance?? more
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View all 33 comments Below 33 comments
It would be a bad law if it is enacted. The property created /acquired by paying all taxes . inheritance is a natural phenomena in a family . No justification ,it is not a transaction. more
Oct 19
This enables easy identification of volume of wealth and extent of lands beyond the Taxable limits . This is a must to check the deceiving individuals , the Land Ceiling laws and , the laws set at article 39 -b and c - at public interest as well as to route the unhealthy concentration of wealth towards fulfillment of article 21 , 41 , 15 {4 } , 45 and 46 read with 14 at national interest . more
Oct 17
Any law is good as long it is simple to practice and honest person is not feet cheated. If such tax is to be implemented it should get deducted at the time of registeration of property. more
Oct 17
Legally inherited wealth or property should not be taxed since the deceased has already paid tax on it. more
Oct 16
Inheritance tax on the extremely wealthy is a welcome idea. The very reasoning behind the imposition of such tax is people who inherit properties or wealth have not sweated for it. Further, the accumulation of the wealth of the deceased has been made possible by the administration through the various incentives proffered for doing business and providing a secure environment to build his wealth. This tax is levied in UK and USA also. In the past two or three decades in INDIA we have created 57 billionaires who control 58 % of the nation's wealth This calls for immediate Government intervention. more
Oct 22
Pls stop repeating mistakes. Otherwise we the Indians would have another vanvas of, 14 years. more
Oct 16
This idea is long since dead and buried. Anybody who has accumulated wealth by his hard work and paid his dues to the state should be permitted to spend/dispose off his wealth as he wishes. Any curbs on this will affect entrepreneurship and increase corruption due to unreported wealth. more
Oct 17
This enables easy identification of volume of wealth and extent of lands beyond the Taxable limits . This is a must to check the deceiving individuals , the Land Ceiling laws and , the laws set at article 39 -b and c - at public interest as well as to route the unhealthy concentration of wealth towards fulfillment of article 21 , 41 , 15 {4 } , 45 and 46 read with 14 at national interest . more
Oct 17
Where is the announcement ? We cannot panic on here say .General inheritance does no t need to be taxed as a common citizen go through this constantly . more
Oct 16
