Sam Pitroda's remarks on inheritance tax put Congress on backfoot
New Delhi, April 25 -- The remarks made by Sam Pitroda, the head of Indian Overseas Congress, regarding the imposition of an inheritance tax in India on the same lines as that of USA, has put the Congress on the backfoot.
""In America, there is an inheritance tax. If one has $100 million worth of wealth and when he dies he can only transfer probably 45% to his children, 55% is grabbed by the government. That's an interesting law. It says you in your generation, made wealth and you are leaving now, you must leave your wealth for the public, not all of it, half of it, which to me sounds fair," Mr. Pitroda said.
The Congress is distancing itself from these remarks of Pitroda. Congress leader Jairam Ramesh said that party does not endorse t...
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