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The pros and cons if inheritance tax makes a comeback in Budget 2019

Tax experts are, however, divided over the issue of whether family trusts should be exempted from inheritance tax

The pros and cons if inheritance tax makes a comeback in Budget 2019
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Sudipto Dey
In the run-up to Finance Minister Nirmala Sitharaman’s maiden Budget speech, there has been a buzz around inheritance tax, earlier referred to as estate duty, making a comeback.
 
“India needs to review the case for re-introducing an inheritance/estate tax with, ideally, relatively high thresholds, so it’s targeted at the very rich,” says Jeffrey Owens, director at Vienna-based WU Global Tax Policy Center. Owens argues that the Indian revenue authorities now have access to information about the assets of citizens held offshore. “The tax could provide a modest amount of additional revenue, both directly and by making it more difficult

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First Published: Jun 30 2019 | 10:01 PM IST

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