Congress refutes claims of planning inheritance tax, shares old clip of BJP MP advocating for estate tax

Congress refutes claims of planning inheritance tax, shares old clip of BJP MP advocating for estate tax/ANI

VoM News Desk | April 24, 2024 | 05:28 PM IST | India, Politics | Follow on Google News

Congress refutes claims of planning inheritance tax, shares old clip of BJP MP advocating for estate tax

Congress refutes claims of planning inheritance tax, shares old clip of BJP MP advocating for estate tax

New Delhi [India], April 24 (ANI): Refuting Bharatiya Janata Party’s claim that Congress aims to impose inheritance tax in the country, party leader Jairam Ramesh said that it was former Prime Minister Rajiv Gandhi who abolished the Estate Duty in 1985.He also demanded an answer from Prime Minister Narendra Modi on the issue.

Taking to social media platform X, Jairam Ramesh said, “The Congress has no plan whatsoever to introduce an inheritance tax. In fact, Rajiv Gandhi abolished Estate Duty in 1985.”The Rajya Sabha MP also shared a video of BJP MP Jayant Sinha, in which the former Minister of State is advocating for estate taxes in the country.”Please listen to BJP MP Jayant Sinha, once MoS Finance in the Modi Sarkar, and later Chairman of the Parliamentary Committee on Finance.

He has spent 15 long minutes vehemently arguing in favour of an Inheritance Tax of 55%, like in the US,” Ramesh added.”The PM must answer: where does he stand on this issue?” he asked.In the 19-second video clip shared by Jairam Ramesh, Jayant Sinha can be seen talking about 50 to 55 per cent estate tax to level the field and create opportunities. “Which is why we need estate taxes so that we take away at least 50 to 55 per cent of the advantage that dynastic business people already have right now. So it’s about levelling the playing field and creating opportunity. By the way, taxes in US and elsewhere…I can tell you estate taxes are 55 per cent there,” Sinha says in the video.

A controversy erupted after the Chairman of the Indian Overseas Congress, Sam Pitroda while emphasising the need for policy toward wealth redistribution spoke about the concept of inheritance tax prevailing in America and said that these are issues that will need to be discussed.

However, the Congress party has distanced itself from the remarks and said that inheritance tax laws do not reflect the stand of the party.But, the BJP came guns blazing at the Congress party over Pitroda’s remarks.Taking a jibe at the Congress, Union Home Minister Amit Shah said that after the comments of the Chairman of Indian Overseas Congress Sam Pitroda advocating an inheritance tax-like law, the party has been completely “exposed.””After Sam Pitroda’s remark, the Congress party is completely exposed. First of all, mention of ‘survey’ in their manifesto, Manmohan Singh’s old statement which is Congress’ legacy – that minorities have the first right over resources of the country, and now Sam Pitroda’s remark citing the United States that there should be deliberations on the distribution of wealth… 55 per cent of wealth goes to the government’s property,” Shah said.

Prime Minister Modi also hit out at Pitroda’s remarks saying that the Congress does not want the countrymen to pass on their property to their children.”The advisor to the royal family’s prince has said that more taxes should be imposed on the middle class.

Now these people have gone one step further than this, Congress says that it will impose an Inheritance Tax, and it will also impose tax on the inheritance received from parents. The property you have accumulated through your hard work will not be given to your children,” PM Modi said at an election rally in Chhattisgarh’s Surguja. (ANI). 

(Except for the headline, this story has not been edited by VoM News staff and is published from ANI website)

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