Zerodha's Nikhil Kamath takes Call for Inheritance Tax & Wealth Redistribution

By Team Startupcity  |  Thursday, 25 April 2024, 08:54 IST

Zerodha's Nikhil Kamath takes Call for Inheritance Tax & Wealth Redistribution
Zerodha Co-Founder Nikhil Kamath voiced his support for inheritance taxes & emphasized the need for wealth redistribution when assets are passed down through generations. 
Expressing his views on inheritance taxes & wealth redistribution, Kamath says, “When predicated wealth transfers from one generation to another, there has to be a filter so that a part of it can be redistributed. There is plenty of precedence to inheritance tax”.
His comments come in the midst of a more extensive discussion on abundance dispersion, started by late remarks from Sam Pitroda, Director of the Indian Abroad Congress. Pitroda's comments on the legacy charge in the US blended contention, further filling conversations on wealth distribution in India during the continuous 2024 Lok Sabha elections. 
"In America, there is an inheritance tax...It says you in your generation made wealth and you are leaving now, you must leave your wealth for the public”, says Pitroda.
As a means of redistributing wealth and promoting economic equality, various nations have implemented inheritance tax, a tax on the transfer of assets from dead individuals to beneficiaries.
Inheritance tax is a charge enforced on the assets transfers from departed persons to their respective beneficiaries.  Inheritance tax has been executed in diverse nations in intent to redistribute the wealth of the citizens & foster the economic equivalence. 
 

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