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Today General Knowledge(GK)
When was the wealth tax first introduced in India ?
A)
1954
B)
1955
C)
1957
D)
1959

Correct Answer : Option (C) - 1957



When the wealth tax was introduced in India in 1957, the taxation system in India had multiple taxes coupled with high rates. Such a structure was more coercive rather than progressive and was leading to economic instability.

Published On : June 21, 2021
Category : Indian Polity
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