When income tax rate touched 97.5% in India
A heated debate is on over wealth redistribution during this Lok Sabha election. Prime Minister and Congress leader Indira Gandhi saw taxation as "a major instrument to achieve greater equality of incomes and wealth". Her government in 1973-74 raised income tax rates to 97.5%, but soon had to withdraw the policy.
Comment / Reply From
You May Also Like
Popular Posts
Newsletter
Subscribe to our mailing list to get the new updates!