| Article Details : |
|
| | | Article Name : | | | Shift from Wealth Tax to Additional Surcharge on
Super-Rich in India: Equity v/s Efficiency | | Author Name : | | | TANVI KHURANA | | Publisher : | | | Bridge Center | | Article URL : |  | | | Abstract : | | | Wealth tax is an annual tax on the wealthier individuals of a
society with an objective of bringing equality in the society and also to
raise higher tax revenues. India implemented The Wealth Tax Act in
1957 which was an Act of the Parliament of India, enacted with the
objective to levy wealth tax on entities with net wealth of thirty lacs
and above. However, in the Finance Act of 2015, the Wealth Tax was
replaced with an added surcharge of two per cent on super-rich who
have a taxable income of one crore and above annually. It was expected
that the revenue loss because of this act would be recompensed with
revenue from high income group. In this paper we try to highlight upon
the shortfalls of the wealth tax in the Indian context keeping the tradeoff between equity and efficiency as a backdrop. | | Keywords : | | | Wealth Tax, Additional Surcharge, the Super-Rich, India |
|
|
|
|
|
|
|
| Announcements
|
- Volume 9, issue 5, August issue - publishing in progress
- Volume 9, Issue 2/ May 2021 publishing IN PROGRESS
- Call for Papers: open. Articles will be uploaded constantly, once the evaluation process is complete.
- The Certificates of Publication can be downloaded from RECEIVED ARTICLES section.
- COVER - VOLUME 2, ISSUE 12 / MARCH 2015
- COVER - VOLUME 3, ISSUE 2 / MAY 2015
- COVER - VOLUME 3, ISSUE 3 / JUNE 2015
- COVER - VOLUME 3, ISSUE 4 / JULY 2015
- COVER - VOLUME 3, ISSUE 8/ NOVEMBER 2015
- COVER - VOLUME 4, ISSUE 4 / JULY 2016
- COVER - VOLUME 4, ISSUE 5 / AUGUST 2016
- COVER - VOLUME 7, ISSUE 11/ FEBRUARY 2020
- Volume 9, issue 3, June 2021 publishing in progress
|
|
|
| New Launched Project |
 |
|
|
| Recommend & Share
|
|