Monday, November 16, 2015

Inheritance Tax

We require re-introduction of inheritance tax. Inheritance tax was known as an estate duty in India but was abolished by the Rajiv Gandhi Govt. This is being levied in the US, UK, Spain, Belgium, Netherlands, Finland and Germany. This will bring down the legal disputes on property. This will lower inequality and will boost government revenue.

Non existence of inheritance tax/estate duty has resulted in wealth accumulation, increase in property value and the most dangerous one, unwanted legal case. This legal cases has slowed down our judiciary and decreased the progress of people involved in the case.

I would strongly recommend people to have minimum property that is essential for there survival. People deciding to invest in property to safeguard there bloodline are brewing a situation which may break their children. They will surely fail at a latter point of there life. Instead, if you have money, please invest on books, travel and education.

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