Capital Taxation Law and Practice

Capital Taxation: Law and Practice is an exhaustive commentary on the subject, offering an in-depth analysis of the concept and regulatory framework governing the taxation of capital in all its forms in India and other jurisdictions across the globe. Taxation of capital is older than the taxation of income. While the income of a fiscal year is often seen as an increase in wealth, capital taxation has sparked more controversy than other types of tax. Meagre revenue yields, the subjective base of the levy, unpredictability of the event of taxation are a few reasons for its repeated repeal and reintroduction. This is in addition to the traditional concerns of tax avoidance and a plethora of exemptions that are more pronounced in capital taxation. Nevertheless, several countries have capital taxation currently in force. This book is divided into two parts, Part A deals with the genres of capital taxation, their salient features, the history and evolution of wealth transfer tax, and the design principles; and Part B covers capital taxation regimes in some of the other countries. Policymakers, academicians, tax practitioners, and high net worth individuals are sure to find the book handy.