His concern was not so much with income than wealth, and here too, he distinguished between inherited and earned wealth. He advocated a tax on the rich who had such âcapital.â Closer home, his work on inequality in India that came out earlier this year drew considerable umbrage, as critics tore into his data and…
What were not widely expected, however, were the significant taxation changes proposed in the Finance Bill 2024. The fact that the memorandum explaining these provisions runs into 114 pages says a lot. As finance minister Nirmala Sitharaman said in her speech, she intends to overhaul the provisions of the Income Tax Act, 1961 with a…
On one hand, there is an âembarrassment of riches,â with rapid growth in both direct and indirect taxes, high and stable economic growth, and moderate inflationâall of which suggest that the economy is in a sweet spot with enormous potential for expansion. Alongside these riches, there are many signs of simmering discontent, as indicated by…
