India used to have a tax called inheritance tax 40 years ago. The political parties Congress and BJP have thought about bringing it back again since then.

There is a big argument happening in politics because someone named Sam Pitroda mentioned a tax called an inheritance tax, which is like a tax on money or property that people get when someone in their family dies. But this idea is not new in India, because both the BJP and Congress parties have talked about it before. The Congress party says they actually don’t have a plan to introduce this tax, and they even got rid of a similar tax in the past. They are trying to calm down the argument.

A long time ago in India, there used to be a tax called inheritance tax, which was also known as estate duty or “death tax” in some countries. This tax was in place for about four decades before it was stopped in 1985.

In the past, some government officials have suggested bringing back a tax on inheriting money or property. They believe this tax could help the government get more money. This tax was first introduced in 1953 to make sure that people didn’t have too much money compared to others.

Also, it was a way to make the extremely wealthy pay taxes on the large amount of money they passed down to their children.

Estate duty was a tax that had to be paid on all the belongings a person had when they died. The tax had to be paid when those belongings were passed on to their family members.

All things that cannot be moved and all things that can be moved, like toys and furniture, have to follow certain rules in India and even in other places.

However, many people didn’t like the tax because it was very high. It started for properties worth at least Rs 1 lakh, and the rate was 7.5%. For properties worth more than Rs 20 lakh, the tax rate was as high as 85%.

The value of the property was determined based on how much it would have sold for when the person died.

The tax that people had to pay when they inherited money or property was taken away in 1985 because many people didn’t like it and thought it wasn’t fair. The person in charge of money at that time decided to get rid of the tax.

The law had different rules for deciding how much different types of things were worth, which made it very complicated. This caused a lot of arguments and disagreements about how much things were worth, and it cost a lot of money to deal with all the disagreements.

A special check showed that the amount of money collected from estate taxes was very small compared to the total amount of money collected from all the taxes by the government.

In 1984-85, the government collected Rs 20 crore as taxes from people’s properties when they passed away. But it cost a lot of money for the government to collect these taxes.

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Not many people were giving their things to be collected because they were finding ways to avoid paying the tax. Some people were hiding the things they inherited, and others were secretly owning things in someone else’s name.

Also, people didn’t like having to pay two different taxes on their money, one for what they earned and another for what they inherited, because they felt like they were being taxed twice.

For a long time, some politicians have been considering the idea of bringing back a tax on the money or property that people inherit from their parents or relatives after they pass away. This idea was first talked about in a meeting in 2011 by a politician named P Chidambaram, who was in charge of the country’s money at the time.

Chidambaram suggested the idea to collect more taxes and improve the ratio of taxes to the country’s income.

A year later, he talked about it again at a big meeting. Chidambaram said it was important to have a tax on inheriting money and property, because some people have a lot of money and others don’t.

Have we noticed that only a few people have a lot of money? I am unsure about talking about fairness between different generations and whether we should tax money passed down from parents to children.

The idea of an inheritance tax came back in 2013, when Chidambaram presented the last full Budget of the UPA-2 government. Chidambaram believed that this tax could help the government make more money and also support the UPA’s political goals.

But not everyone in the group of people making decisions, as well as other important people, agreed with the idea of a tax on money inherited from family members, so it was not included in the government’s budget. The matter was put aside and not discussed further when the Narendra Modi-led government won the elections in 2014.

In simple terms, Jayant Sinha, who was a government official, suggested that a special tax should be introduced for people who inherit a lot of money or businesses from their family. He believed that this tax would make things fairer because it would reduce some of the advantages that rich families have and give everyone a more equal opportunity.

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