Business Standard

As wealth inequality grows, is it time for an Indian inheritance tax?

Country had had 20 billionaires at the last count: more than some other major economies


Representative Image

Sachin P Mampatta Mumbai

Listen to This Article

Billionaire Bill Gates, in a 2019 interview, supported bringing back a regulation in the US to require the super-rich to pay a 55 per cent tax when they inherit their family fortune.

Proponents of an inheritance or estate tax say it reduces inequality and creates a meritocratic society by chipping away at the enormous advantages the children of the wealthiest families enjoy by an accident of birth. Many large economies levy such a tax on their richest citizens; India does not.

Large inheritances are taxed at 40 per cent in the US and the UK. Germany is at

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 20 2023 | 12:21 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to