INCOME TAX28 Sept 2026
Hotmail's Sabeer Bhatiya suggests 55% inheritance tax to make India a ‘truly competitive nation’; what the levy means | Mint
Hotmail co-founder Sabeer Bhatia wants India to consider a 55% inheritance tax on what people inherit. India has no such tax today, though an estate duty existed until 1985. His viral post sparked debate: some say parents should pass on wealth, others agree opportunity should come from what you build. For now, nothing changes for taxpayers, since India currently has no inheritance tax.
Key Statutory Highlights
- Sabeer Bhatia said India should consider a 55% inheritance tax if it wants to become a truly competitive nation.
- India has no inheritance tax today, though the Estate Duty Act, 1953 applied until the levy was abolished in 1985.
- Bhatia argued that giving children wealth weakens them, and that parents should give education and good values instead.
Actionable Advice for Taxpayers / Founders:There is no inheritance tax in India at present, so you have nothing to pay or declare on this count right now. If you are planning how family wealth should pass to the next generation, discuss your options with a qualified tax professional before restructuring anything.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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