A screenshot shared by Congress leaders indicated that BJP’s Amit Malviya had posted a message on X in 2014 “supporting [former minister] Jayant Sinha’s proposal to tax inherited wealth.”
Here’s what Amit Malviya and Jayant Sinha had stated back in 2014. Congress leaders accused BJP leader Amit Malviya of previously endorsing the notion of an inheritance tax.
Did BJP leader Amit Malviya and MP Jayant Sinha once favor the idea of tradition tax, which is now a matter of blame game between the Congress and the BJP ahead of the 2024 Lok Sabha elections?
Congress leaders took to social media on Wednesday to share a screenshot of a “deleted” tweet posted by Malviya in 2014. The now-deleted tweet read: “I am all for Jayant Sinha’s idea to tax inheritance wealth.”
Inheritance tax, or estate tax, is levied on the property and assets left behind by an individual upon their demise, before being passed on to their designated heirs. The screenshot indicates that Malviya shared this message on X platform back in 2014, coinciding with the BJP’s victory over the Congress and the inauguration of Narendra Modi as Prime Minister.
Amidst the recent controversy surrounding Indian Overseas Congress chairman Sam Pitroda’s remarks on inheritance tax, a tweet from Amit Malviya has resurfaced.
Congress leader Pawan Khera shared screenshots of Malviya’s past post, commenting, “Meanwhile, Amit Malviya must be regretting why he didn’t delete his old tweets…”. In a series of tweets dating back to 2014, Malviya appeared to argue that the concept of inheritance tax was merely a topic open for discussion. Another screenshot showed him stating, “It’s not a decision, just an idea.”
Additionally, Telangana Congress spokesperson Asma shared the screenshot, commenting, “The BJP culprit unsuccessfully attempted to erase the evidence. (sic)”
BJP vs Congress on inheritance tax
Sam Pitroda sparked controversy by referring to the inheritance tax law in the US as “an interesting law.” He later clarified his remarks.
On Wednesday, Congress leader Jairam Ramesh alleged that it was the “Modi Sarkar” which had proposed the introduction of inheritance tax in 2014.
“Jayant Sinha, then Minister of State for Finance, publicly stated that he wanted to introduce Inheritance Tax in 2014,” Ramesh claimed in one of the four “facts” he shared on X. Meanwhile, BJP’s Amit Malviya countered, stating that it was former Finance Minister and Congress leader Chidambaram who had suggested the idea of imposing inheritance tax back in 2012.
Prime Minister Narendra Modi criticized the Congress, accusing the party of continuing to exploit citizens even after their demise. He asserted, “The Congress will burden you with more taxes during your lifetime and even after your death with inheritance tax. Those who treated the entire Congress party as their family inheritance and passed it on to their children, now oppose Indians passing on their property to their offspring,” PM Modi stated during an election rally on Wednesday.
Was Jayant Sinha in favor of inheritance tax?
A 2014 article in First Post referred to Jayant Sinha, the former Minister of State for Finance in the BJP government, as “a strong advocate for inter-generational fairness.” This implied his support for an inheritance tax targeting the transfer of wealth from the wealthy to their descendants after their demise.
Reportedly, Sinha outlined four reasons why he believed estate taxes were necessary during his speech at the Forbes India Philanthropy Awards 2013. Amidst the current controversy, a video of Jayant Sinha discussing “estate tax” in India circulated widely on Wednesday.
On the other hand, P Chidambaram, a former minister in the Congress-led central government, called for a discussion on the requirement for an inheritance tax in India. According to an Economic Times report, he questioned whether enough attention had been given to the concentration of wealth in the hands of a few individuals.
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