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We once had marginal tax rates at 97.75% (under IG, not JLN, a point to be noted) plus wealth tax as well.
Another point to note: current rate (42.75%) is the highest rate we have had under a non-Cong regime n supposedly a RW govt.
Another point to note: current rate (42.75%) is the highest rate we have had under a non-Cong regime n supposedly a RW govt.
Not a fan of PC - one of MKs of our polity - but hv to acknow that his stint as FM in UF was among better tax-payer friendly eras; another one was when JS was FM. Two others: CS n VPS as FMs; else, mostly case of a hand giving n 3 hands taking away regimes.
Bad tax ideas fly fast in places where Babunomics (this is not abt babus pl
) rules n leads to bizarre actions like high MTRs, auto collection in CGT, WT, Inh tax, 1-off cess (when nothing 1-off in India) n in general belief that higher n more kinds of taxes, better for revenue.
) rules n leads to bizarre actions like high MTRs, auto collection in CGT, WT, Inh tax, 1-off cess (when nothing 1-off in India) n in general belief that higher n more kinds of taxes, better for revenue.
