India used to have a tax called inheritance tax a long time ago. The political parties called Congress and BJP have thought about bringing back this tax at different times.

People are very upset and arguing about what Sam Pitroda said about an “inheritance tax” in India. But actually, this idea is not new and both the BJP and Congress have talked about it before. The Congress party even said they have no plans to bring back an inheritance tax because Rajiv Gandhi got rid of it in 1985. They are trying to calm down the arguments.

Many years ago in India, there was a tax called an inheritance tax. It was also called estate duty or “death tax” in some places. This tax meant that when someone passed away and left money or property to their family members, the government would take a portion of that money or property as tax. However, this tax was removed in 1985, so it is not present in India anymore.

In the past, both the government led by the Congress party and the government led by the NDA party have talked about bringing back a tax called inheritance tax. This tax is about when someone passes away and gives their money and things to their family. The government wants to bring back this tax to help them have more money. This idea has been supported by important people in the government, like the former finance minister and a former minister of state for finance. This tax was actually there a long time ago, in 1953, to make sure that people with a lot of money shared some of it with others.

Additionally, it was a way to collect money from very wealthy people who gave a lot of their money to their children.

In easy words, estate duty was a tax on all the things someone owned when they died. The tax had to be paid by the people who got those things after the person passed away.

A rule was made that says people have to pay a fee for their things, like houses or cars, whether they are in India or in another country.

But many people didn’t like the tax because it was very high. If someone’s property was worth more than Rs 20 lakh, they had to pay 85% of that value in tax. The tax started for properties worth at least Rs 1 lakh, and the rate was 7.5%.

The value of the property was figured out based on how much it was worth when the person passed away.

Inheritance tax, which was a law that made people pay money to the government when they inherited property or money from someone who passed away, was taken away in 1985 because a lot of people didn’t like it. The government wanted to make more money and help make things more fair, but the tax caused a lot of arguments and complaints, so it was stopped.

The law had different ways of deciding how much different things were worth, which made it very confusing. People ended up going to court a lot because they couldn’t agree on how much something was worth. This cost a lot of money to deal with.

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

In 1984-85, the government collected Rs 20 crore in taxes from people’s inheritances. But it cost a lot of money to collect that tax.

The collection of items was small because people found ways to avoid paying the tax. Some people hid the things they inherited and started owning things secretly under other people’s names.

Additionally, people didn’t like the idea of having to pay another tax on their money and belongings after already paying taxes on their income. They felt like they were being taxed twice, which made them angry.

A long time ago, some important people in the government talked about bringing back a tax on the money and property that people pass down to their children. They first started talking about this idea in 2011, and it has been discussed by different political parties since then.

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Chidambaram had suggested an idea to help the government get more money in taxes and improve the ratio of taxes to the country’s overall income, which was going down.

A year later, Chidambaram brought up the topic again at a special event. He said that it was important to have a tax on money inherited from family members. He also mentioned that it’s not fair when only a small number of people have a lot of money.

He’s saying that some people have a lot of money and others don’t. He’s still unsure about talking about passing down money from one generation to the next.

The idea of an inheritance tax became popular again in 2013 when Chidambaram, a government official, presented a plan to raise money for the government by taxing the money or property people leave behind when they die. He believed this tax could help the government and benefit the political party he was a part of.

But not everyone in the group of important decision-makers and people involved in the decision-making process agreed that it was a good idea to have a tax on inherited money, so it was never included in the government’s budget plan. The idea was put on hold when Narendra Modi’s government won the elections in 2014.

In the same year, Jayant Sinha, who was a government leader, suggested that we should have a tax on passing down money and property to family members. He thought this tax would make it fairer for everyone and stop some people from having too much power just because they come from a wealthy family.

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