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Tax

More heat than light in wealth tax debate

Lately, the debate over wealth taxation has intensified, with proponents arguing for its role in addressing income inequality and funding social programmes. However, implementing a wealth tax is not without its challenges and drawbacks.

Tax woes

In the world of taxation, ambiguity often gives rise to disputes that can have far-reaching consequences.

Path to Riches~I

A recent Oxfam report, published in January 2023, found that the richest one per cent in India own more than 40 per cent of the country's total wealth, while the bottom half together share just 3 per cent. Also, during FY 2020-21, approximately 64 per cent of the total Rs. 14.83 lakh crore in Goods and Services Tax (GST) came from the bottom 50 per cent of the population, with only 3 per cent coming from the top 10 per cent