An Analytical Study Of Wealth Tax And Why It Would Be Advantageous If Brought Back
- IJLLR Journal
- May 6
- 1 min read
Charvi Kathuria, B.A. L.L.B (Hons.), School of Law, Manav Rachna University
ABSTRACT
The fluctuations in the Indian economy are becoming more significant day by day, which reveals to us that there is a need for change in the taxation methods so as to help the people belonging to various socio-economic backgrounds to, without any hassle, contribute to the growth of the economy of India. Wealth tax was levied along with many more different kinds of taxes a long time ago, fully on each and every citizen of India, which brought with itself its own advantages and disadvantages. It has become essential for us to make an analysis of the financial situation of the country and the ability of its citizens to pay wealth tax and conclude with recommendations and reasons if it is required to be levied once again. This kind of taxation will most likely help people relax while filing their returns if the wealth tax is levied with certain conditions, such as if it is in accord with the progressive rate.
Keywords: Indian economy, wealth tax, progressive rate, returns, financial situation.
