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Last Updated : Jul 08, 2019 02:09 PM IST | Source: Moneycontrol.com

Editor's Take | All about the super-rich tax proposed in Budget 2019

Only 40,000 people have a declared income of above Rs 1 crore in the country.

Moneycontrol News @moneycontrolcom

In Budget 2019, Finance Minister Nirmala Sitharaman announced that the surcharge for those earning Rs 2-5 crore will be increased to 3 percent and for those earning above Rs 5 crore to 7 percent.

Only 40,000 people have a declared income of above Rs 1 crore in the country so this could be a move to clamp down on the people who don't disclosing their wealth.

Vandana Ramnani chats with Moneycontrol's Deputy Executive Editor, Gaurav Choudhary to understand the rationale behind this tax surcharge.

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First Published on Jul 8, 2019 02:09 pm
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