Inheritance Tax

Bankers and lawyers say uncertainty around super-rich tax plan is damaging Switzerland’s stability and appeal.

World Street | OpenAI unveils SearchGPT; Ford tumbles 18%; Rupert Murdoch succession battle; South Korea to slash inheritance tax, and more

From OpenAI’s new search engine and Ford’s stock plunge to Rupert Murdoch’s succession battle and South Korea’s tax relief, here's a look at recent business developments around the world.

Piyush Goyal slams Congress' manifesto for 'appeasement' politics, Sam Pitroda's influence

“I feel it is unfortunate that after the manifesto of the Congress was released, they were completely exposed, that they are still thinking of appeasement," said Goyal.

Inheritance tax idea unrealistic, wealth survey will unleash chaos, says economist Gautam Sen

There is no inheritance tax in the US, which has . estate and gift taxes, paid by around 4,000 people in the entire country, Sen has said

Inheritance tax is not anti-wealth creation

The existence of an inheritance tax has not deterred wealth creation in the countries which have them. Take the UK, which has one of the highest estate duties on paper in the world. The 40 percent tax has not deterred wealth creation in the country

Any inheritance tax in India risks flight of wealth from the country, says economist Ashwani Mahajan

Mahajan said India cannot follow the footsteps of the UK and the US when it comes to taxing the rich given that India both economically as well as culturally is different from the West.

'Try and elevate, rather than bring the successful down': Raghuram Rajan on wealth redistribution debate

The former RBI governor also said there needs to be a thorough examination to identify groups who have not benefited from the growth of economy

MC Opinion: How PM Surya Ghar Yojana can become flagship for Modi 3.0

Inheritance taxes can significantly hinder capital formation by entrepreneurs and wealth creators, a scenario India cannot afford at this stage of its development.

Inheritance tax will increase black money, discourage people from revealing income, says senior advocate Aryama Sundaram

When estate duty was in operation people hid their wealth in ‘mattresses and gold bars’ rather than keeping it in bank accounts in order to pass it on to the next generation, he noted.

India's former inheritance tax explained

Benjamin Franklin said nothing is certain but death and taxes, but India four decades ago had a death tax, as the contentious levies under the inheritance tax law that existed up to 1985 was referred to.

Billionaire Nikhil Kamath supports inheritance tax in viral video from 2022. 'For a country like India...'

The video was of an interview in 2022, during which Zerodha co-founder Nikhil Kamath said that the country's wealth is not necessarily concentrated among the three percent of the population that pays income tax, it's with a much broader diaspora. 'Something like an inheritance tax will bring more people under the tax net.'

US billionaires are saying, “levy a tax on our wealth.” Should India follow suit?

A high wealth-to-income ratio is not a good thing from a financial stability point of view. Concentration of wealth in the hands of a few is a recipe for increasing social unrest especially when India is facing a crunch in even basic resources like clean drinking water.

Should inheritance tax be introduced?

If inheritance tax is in any way reintroduced, it would require careful deliberation from the government with regards to its structure. To function effectively, a strong digital database system is a necessity for tracking real asset transactions and holdings

Govt may re-introduce Inheritance tax; Here's what it means and how it will impact you

The tax was abolished in India during Rajiv Gandhi's rule in 1985. It was levied in India from 1935-1985.

Budget 2013-14: Inheritance tax: Will it put more burden on families?

The noise against a proposal to recall the infamous estate duty to life is gaining volume. CNBC-TV18's Ashmit Kumar finds out what one can do to reduce the burden of this tax, should it come to pass.

Inheritance Tax: Time to scrap the thought

Sometimes a thought might come in the minds of the tax gatherers that why not introduce “Inheritance Tax” to gather more revenue for the Government. Well, it is time right now to debate on the theme of introduction of Inheritance Tax in the present scenario in the country.

What rich people are 'trust'ing these days

With a possible inheritance tax around the corner, trusts are back in favour, especially when it comes to wealth management and succession planning, reports CNBC-TV18‘s Ashmit Kumar.

Budget 2013: Inheritance tax levy is challenge for FM: KPMG

Though the inheritance tax was abolished in India in 1985 due to increased costs of collection, the hike in the levy of inheritance tax in the US has forced the Indian government to relook the introduction of the tax, says Dinesh Kanabar of KPMG explains in an analysis on CNBC-TV18.

Pre-budget meet: What was discussed?

The run-up to the Union Budget has well and truly begun. The Finance Minister today met eminent bankers from across the country and later met economists to discuss their wishlist for the upcoming Union Budget.