Hotmail co-founder Sabeer Bhatia proposes 55% inheritance tax on wealth passed down in India
- Hotmail co-founder Sabeer Bhatia has suggested a 55% inheritance tax in India to reduce wealth concentration.
- Experts said a high exemption threshold could protect middle-class families passing on modest savings or a primary home.
- A steep tax could create challenges for family businesses and illiquid assets, potentially forcing heirs to borrow or sell assets.
- Experts also flagged possible effects including tax avoidance, capital outflows and weaker incentives for long-term saving and entrepreneurship.
Source: indiatoday.in
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