Modi Government 3.0 presented the first full Budget on July 23, 2024. As a first full budget of the new coalition government, reforms were expected on several policy, tax and regulatory front. Keepi...
The discussion surrounding introduction of inheritance tax in India has recently been in news. The Modi Government 3.O has denied introduction of inheritance tax. India is at the cusp of long-anticipated economic surge. This calls for continuing need for private capital in India and a significant growth in Indian entrepreneurship. Any possibility of (re)introduction of inheritance tax will require a fine balance between government’s object to augment revenue and reduce inequality without severely impacting the growth of private capital and migration of entrepreneurs and family offices to overseas jurisdictions. In this article INDUSLAW's Lokesh Shah and Aarya Jha attempt to trace the historical background of inheritance tax in India, compare with the model adopted in developed jurisdictions like the UK and US, and analyse potential implications of its (re)introduction in India.
