TaxTMI 
TaxTMI 
No Proposal to Reimpose Estate Tax again in Future
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....o Proposal to Reimpose Estate Tax again in Future <br>News and Press Release<br>Dated:- 20-12-2012<br><BR>Press Information Bureau Government of India Ministry of Finance 20-December-2012 17:54 IST....
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.... There is proposal at present to reimpose the Estate Tax again. The Estate duty was abolished for the following reasons: (i) The contribution of estate duty to the Government revenues over the year....
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....s had been insignificant. (ii) Percentage of estate duty to gross tax revenue was steadily falling. It was 0.22 percent in 1972-73, 0.5 percent in 1975-76 and 0.13 percent in 1981-82. (iii) The proc....
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....eeds of estate duty were low despite an extremely progressive rate schedule. (iv) The cost of administration of the Estate Duty Act, 1953 and the cost of compliance to the tax payer was high. (v) Bo....
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....th wealth-tax and estate duty lows were applicable to the property of a person, the former applying to his property before death and the latter after his death. The existence of two separate laws with....
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.... reference to the same property was considered a burden on the taxpayers and the heirs of the deceased. This was stated by the Finance Minister Shri P. Chidambaram in reply to a question in the Rajya....
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.... Sabha today. * * * DSM/RS/bs<BR> News - Press release - PIB....