India had a tax on the money and property people inherit from their family 40 years ago. The political parties Congress and BJP have thought about bringing back this tax at different times.

People are getting really upset and arguing about something that Sam Pitroda said. He suggested that India should have a tax on the money and property that people inherit from their family, like they do in the United States. But this idea is not new, both the BJP and Congress have talked about it before. The Congress party wants to make it clear that they don’t have any plans to actually make this tax happen. In fact, a long time ago, Rajiv Gandhi got rid of a different tax called estate duty in 1985. They are trying to calm down the argument and make sure everyone understands their position.

In the past, India had a tax called estate duty or “death tax” that people had to pay when they inherited money or property. This tax was common around 40 years ago but was stopped in 1985.

In the past, some government officials have talked about bringing back a tax on inherited money and property. They believe it could help the government get more money. This tax was first introduced in 1953 to try to make sure that wealth was shared more equally among people.

Also, it was a way to make the very wealthy pay taxes on the large amount of money and property they were giving to their children.

Estate duty was a tax on all the stuff someone owned when they died. Their family had to pay the tax when they inherited the stuff.

This responsibility was placed on all things that can’t move, like buildings, as well as on things that can move, like cars, that are located in India or elsewhere.

But many people didn’t like the tax because it was really high. If a property was worth more than Rs 20 lakh, the tax on it could be as much as 85%. The tax started for properties worth at least Rs 1 lakh, and the rate was 7.5%.

When the person died, they figured out how much all their things were worth based on how much people would pay for them at that time.

Inheritance tax was a law that made people pay money to the government when someone passed away and left them money or property. It was meant to help the government get more money and make things more fair for everyone. But, lots of people didn’t like this law and thought it was unfair. After 30 years, the person in charge of the money for the government decided to get rid of the law.

The rules about how much things are worth were different for different types of things, which made the law complicated. Because of this, there were a lot of arguments in court about how much things were worth, which cost a lot of money to deal with.

After checking everything carefully, it was found that the amount of money collected from the estate tax was very little compared to all the other taxes collected by the government.

In 1984-85, the government collected Rs 20 crore in taxes from people who inherited money or property. But it cost a lot of money to collect that tax.

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The collection of money stayed small because people found ways to avoid paying the tax. They hid inherited properties and started owning properties in other people’s names to avoid the tax.

Additionally, people didn’t like having to pay two different taxes – one on their money they earned and another on their money they inherited – because it felt like they were being taxed twice. This made them upset.

For many years, some politicians have been talking about bringing back a tax on inheriting money or property. This idea was first brought up by a government official named P Chidambaram in 2011, when he was talking to other important leaders. Chidambaram used to be in charge of the country’s finances.

Chidambaram had suggested an idea to try and collect more taxes and improve the ratio of taxes to the country’s total earnings.

A year later, Chidambaram talked about something important again at a special event. He said it was time to have a tax on the money and things people inherit when someone in their family dies. He was worried that only a small group of people were getting really rich.

He is worried that only a few people have a lot of money and that it is not fair for future generations. He does not want to talk about a tax on inheritance yet.

The idea of an inheritance tax came back in 2013, when Chidambaram presented a plan for how the government could collect more money from people who inherit a lot of money or property. Chidambaram thought this tax could help the government make more money and also help their political group.

However, some people who make important decisions and others who are involved in the decision-making process didn’t think it was a good idea to have a tax on inherited money, so it didn’t end up being included in the government’s budget plans. The idea was put on hold when Narendra Modi and his political party won the election in 2014.

In the same year, a government official named Jayant Sinha said he supported a new tax called inheritance tax. He thought this tax would make it fairer for people who don’t come from rich families to start their own businesses.

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