What if Nepotism Tax exists? | How Inheritance Tax Works | Dhruv Rathee

Imagine if there was a tax which could remove nepotism from society? A tax which is there during Inheritance. On similar grounds, There used to be the Estate duty in India. As per this law, on the demise of a person, when his movable and immovable property was passed onto his or her heirs, an estate duty was levied. Inheritance tax and Estate duty are pretty much the same thing. Wealth tax and Gift tax are also related. n this video, I explain how can a potential inheritance tax be implemented and who will have to pay it? And is it even needed?
----------------------------------------------------
0:00 Introduction
3:34 Concept of Wealth Tax
4:19 Concept of Gift Tax
6:10 Case Study: USA
8:26 Case Study: Britain
9:10 How these Taxes work in Europe
11:26 Countries which removed this.
13.10 Robinhood Tax vs Nepotism Tax
15:00 Should India have Inheritance Tax?
----------------------------------------------------
JOIN MY COURSE:
Learn how to manage time and maximize productivity in my specialised online course.
Learn to harness the power of ChatGPT effectively and transform your life!
Use GET20 for a straight up 20% discount!

LISTEN TO MY PODCAST:

FOLLOW ME ON:

MY VIDEO TOPICS:

DOWNLOAD MY APP:
----------------------------------------------------

[dhruvrathee]

Do you think there should be inheritance tax or wealth tax?

Exclusive 35% discount for Dhruv Rathee subscribers for all ITR filings with TaxBuddy, India’s Most Trusted Tax Filing Platform!

[SurajRawat-dbts]

Tax Tax Tax
Its always consider good to take tax from rich, middle class, their hard earn money for development
But government keep spending money on silly things, election etc.

[arghamukherjee]

This topic was suggested by Dhruv himself when he made the video on "Should salary tax be exempted by the Govt? "

[mandyved]

When govt taxes the property inherited, then it should also provide assistance in case someone is inherited with debt. There should be effective policy regarding this.

[TheYodadrunk]

We can't compare this with other countries. Because the parent and children relationship is unique in India. We do not leave our elderly for themselves in old age homes and similarly parents work hard for the benificial of their children. That's why you see people still living with parents at least till the age of 30.
So when this emotional connect exists, government should be very careful in implementing it.

[prachisingh]

The argument "we earn for our children and grandchildren" was very strong even though I'm pissed with rich people starting much ahead from middle class but can't deny the fact that I'm also working for a better future for my upcoming generation

[rh]

If my father is gifting me his ancestral land, even then during registration, we pay some tax. When my father gifted me a small property, then also i had to pay 50k rs as tax during registration. So its not like we inherit property without paying anything in India. And 50K is not a small amount for a middle class indian.

[Riderlogy_India]

Nepotism is not about giving parents wealth to children but it is about giving a valuable position to your incompetent kid, for which many capable people are struggling.

[tvchannel]

It is also a dual taxation. One earning should be taxed once, either take income tax or take inheritance tax. Abolishing income tax and introduction of inheritance tax would encourage people to spend more during lifetime and help the economy to grow

[xavierspapa]

Nepotism is everywhere around us not just in Bollywood. Whether it is Cricket, big business, Nepotism exists even in our school or college.😔

[anilaeek]

This will definitely shake the real estate business. The house prices will go higher and higher because the seller(inherited property) will consider it as loss and fix high prices for it.

[adityabharadwajusa]

Big fan here! Loved this video! One thing that makes it different from other videos is the discussion of tax laws adopted by other countries. John oliver does it from time to time. Would love to see more of it in future videos. For example, can you also discuss some farm laws that have been working for other countries and how India can learn from them?

[amitavachatterjee]

Most Importantly there should be a "NETA TAX", after every 5 years the valuation of assets of any NETA / or Part will be evaluated, if Party Hold its > 50Cr. on surplus they should deposits 40% and Neta should deposits 40% of his Delta income.
Trust me it wouldn't take more than a month for the SMART PEOPLE of India (Except Andh Bhakt)

[ishapatil]

My father belonged to a poor family yet through his very very hard work he now holds an executive post in a bank. I think that all the wealth that his has earned through 'blood & sweat' should not be given as tax to the government who isn't accountable of how that money this being spent !

[bhavikagarg]

I think it should be implemented in such a way that if a person inherit more than a fixed amount of money like say 4 crore then on the rest of inherited property tax should be implemented

[zeeshanchishty]

This is IMPOSSIBLE to watch DHRUV'S video without reading Comments.that are always POSITIVE.

[ankitjain]

We almost pay tax on everything we earn consume in India. e.g Income tax, Capital gain tax, STT, GST, registration of house, vehicle etc. and after that we save something to cater uncertainty in future and some for our children studies / marriage / profession / business. Inheritance tax / Estate tax is not a good idea as that money is left after paying tax to govt. form my point there should be one tax either GST or Income tax. We are already suffering from multiple tax without getting anything in return.

[rahulhonashetty]

Success is watching your self in YouTube ad break in your own uploaded video....! Nice Bro (Proud to follow u)

[themehmood]

Nepotism का जीता जागता उदाहरण Jay Shah है।

[amankumarsaxena]

It's very informative and a unique idea . Mainstream media couldn't do debate on these kind of topics.THANKS DHRUV