India used to have a tax called inheritance tax around 40 years ago. The political parties called Congress and BJP have been thinking about bringing back this tax from time to time.

People are really upset and arguing about something Sam Pitroda said about a tax on inherited money. But this kind of tax has been talked about before in India, by both the BJP and Congress. The Congress party says they don’t have any plans to bring back this tax, and actually Rajiv Gandhi got rid of a similar tax in 1985.

In the past, India had a tax called inheritance tax, which was like a “death tax” in other countries. It meant that when someone passed away, their family had to pay a tax on the money or property they left behind. But this tax was removed in 1985, so it doesn’t exist anymore.

In the past, some government leaders have talked about bringing back a tax on inherited money. They believe this tax could help the government get more money. This tax was first introduced in 1953 to try to make sure that everyone had a fair share of money and reduce the gap between rich and poor.

In addition, it was a way to make rich people pay taxes on a lot of money they give to their children.

In easy words, estate duty was a tax on all the things a person owned when they died. The tax had to be paid when those things were given to the person’s family after they passed away.

This rule applies to all things that can’t move, like buildings, as well as things that can move, like toys, that are in India or in other places.

But many people didn’t like the tax because it was really high. If your property was worth more than Rs 20 lakh, you had to pay 85% of its value as tax. The tax started for properties worth at least Rs 1 lakh, and the rate was 7.5%.

The value of the property was determined based on how much it was worth when the person died.

Inheritance tax was a law that made people pay money to the government when they inherited a lot of money or property from someone who died. The government wanted to use this money to help pay for things they needed and to make sure that rich and poor people were more equal. But many people didn’t like this law and complained about it for a long time. Eventually, in 1985, the person in charge of the money for the government decided to get rid of the inheritance tax because of all the criticism.

The law had different rules for figuring out how much different things were worth, which made it very complicated. This led to a lot of arguments in court about how much things were worth, which cost a lot of money to deal with.

An examination showed that the amount of money collected from the estate tax was very small compared to all the other taxes collected by the government.

In 1984-85, the government collected a lot of money as tax from people’s inheritances. But it cost them a lot of money to collect that tax.

The amount of things people had to pay taxes on stayed small because some people found sneaky ways to avoid paying. They would hide properties they inherited or pretend they didn’t really own certain things to avoid paying taxes on them.

Additionally, people didn’t like the idea of paying two different taxes, one on their money they earn and another on their inherited money, because they felt like they were being taxed twice.

For many years, some politicians have been thinking about bringing back a tax on the money and property that parents pass down to their children. This idea was first talked about in 2011 by a government leader, and it has been discussed by different political parties since then.

Chidambaram suggested the idea to collect more taxes and help increase the amount of money the government collects compared to the country’s total income.

A year later, Chidambaram brought up the topic again at a big meeting. He said it was important to have a tax on inherited money because some people were getting very rich and not sharing their wealth with others.

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He is worried that only a few people have a lot of money and that this might be unfair to future generations. He is also unsure about whether we should tax the money that people leave to their children.

The idea of an inheritance tax became popular again in 2013, when Chidambaram presented a budget for the government. He believed that this tax could help the government make money and also help the political party he was a part of.

Not everyone in the government and other important people agreed with the idea of an inheritance tax, so it was never included in the budget. The topic was put aside when the Narendra Modi-led government won the elections in 2014.

In the same year, a government official named Jayant Sinha suggested that there should be a tax on the money and property that parents pass down to their children. He thought this would make it fairer for everyone, instead of just giving rich families even more advantages.

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