Sanatan Prabhat > Post Type > News > National News > There should be a discussion on imposing inheritance tax in India based on American law : Sam Pitroda

There should be a discussion on imposing inheritance tax in India based on American law : Sam Pitroda

  • Statement by Sam Pitroda, the chairman of the Indian Overseas Congress
  • Congress distances itself by saying it is Pitroda’s personal opinion
  • Inheritance tax refers to the law that allows the Government to take over 55% of a person’s wealth after his death

New Delhi – Sam Pitroda, chairman of the Congress’s overseas wing (Indian Overseas Congress), has yet again made a controversial statement. He said, ‘The US has an inheritance tax. India should impose such a tax too. If one has $100 million worth of wealth and when he dies, he can only transfer probably 45% to his children, 55% is grabbed by the Government. There is no such provision in India. If an individual is worth 10 billion and passes away, their children inherit the entire sum, leaving nothing for the public’. However, Congress has distanced itself from Pitroda’s statement. Party General Secretary Jairam Ramesh said that this is his personal opinion and has nothing to do with the party.

Congress wants to loot your wealth, PM Modi criticizes

Prime Minister Narendra Modi has criticised Pitroda’s statement. He said in a rally that Congress also wants to tax the inheritance received from parents. The wealth you have accumulated through hard work will not pass on to your children. The ‘claws of the Congress’ will snatch that from you. The mantra of Congress is, ‘Zindagi ke Saath Bhi, Zindagi ke Baad Bhi’. That means as long as you live, Congress will keep levying tax on you. Those who consider the entire Congress party as ancestral property and handed it to their children do not think that ordinary Indians should pass on their wealth to their children.

My statement was misinterpreted; Sam Pitroda covers up

After Sam Pitroda’s statement came under fire and Congress distanced itself from his statement, Pitroda tried to cover it up through a post on social media. He said, ‘It is unfortunate that what I said as an individual on inheritance tax in the US is twisted. Who said 55% of the property will be taken away ? Who said something like this should be done in India ? Why are BJP and the media in panic ? I mentioned US inheritance tax in the US only as an example in my normal conversation on TV. Can I not mention facts ? I said these are the kinds of issues people will have to discuss and debate. This has nothing to do with the policy of any party including Congress.

Editorial Perspective

There has never been such a law in the history of India and never will be. Probably, if such a law is to be made, then it should be made for politicians.

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