Super-rich will have to pay up to 42.7% tax; Rs 2-5 crore, Rs 5 cr+ brackets affected

07 july 2019 Super-rich will have to pay up to 42.7% tax; Rs 2-5 crore, Rs 5 cr+ brackets affected Only 6,361 individuals in the country have declared their incomes to be over Rs 5 crore. Read more at: //https://lnkd.in/fsnW66D --------------------------------------------- Questions : # Has anyone figured out how much additional revenue will Govt get by raising this surcharge on 6361 persons ? A few hundred crores ? # If this surcharge was NOT raised, and the super-rich were left with those few hundred crores of ( surplus money ? ), then how would they have spent that amount ? I have, in the past, repeatedly advocated TOTAL ABOLITION of PERSONAL INCOME TAX ( which contributes 16 % of Govt's total revenue ) If done, expect the following : What would happen ? [ 29 Sept 2017 ] https://lnkd.in/fBy2YYp =================== What would they do ? [ 03 May 2016 ] https://lnkd.in/fuYzabn