Is it viable to reintroduce estate tax in the upcoming budget?
New Delhi, July 1 -- Ahead of the Union budget later this week, there is speculation that the government may reintroduce inheritance or estate taxes in order to enhance tax revenue and improve tax parity. Such tax was abolished in India in 1985 due to meagre tax collection and high costs, besides inefficiencies in implementation. Moreover, wealth tax was abolished as recently as 2015, on the same grounds. Ashwini Kumar Sharma asked four experts how viable it is to reintroduce inheritance tax in India, whether it will boost tax collection, and how it can impact taxpayers...
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