The Hindu Undivided Family in Independent India’s Corporate Governance and Tax Regime

Gupta, Chirashree Das; Gupta, Mohit

doi:10.4000/samaj.4300

Cited by 4 publications

(1 citation statement)

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“…In case the individual was not the sole owner of an asset, his/her equity in the community property was calculated according to Hindu Law. The family that jointly owned this property was defined as a Hindu Undivided Family (HUF) and distribution of equity was based on lineage rules based on Hindu Law (Das Gupta and Gupta, 2017). This system made the holding structure of family property property analogous to a corporation except the shareholders were family members.…”

Section: After 1985: Brief Remarksmentioning

confidence: 99%

Top Indian wealth shares and inheritances 1966–1985

Kumar

2019

Cliometrica

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Between 1953 and 1985 India implemented various progressive taxes on personal wealth. I use estate tax returns to compute top wealth shares (top 1%, top 0.1% and top 0.01%) over 1966-1985; a period marked explicitly by a dirigiste policy environment. These new series suggest that wealth concentration in India reduced substantially during the 1970s. Although the decline affected the entire top 1%, the losses faced by the top 0.01% were especially large. Combined with identical trends in top income shares, it appears that the 1950-1980 expropriations of India's rich had similarities to institutional transitions and shocks faced by European elites in the early to mid twentieth century.

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Section: After 1985: Brief Remarksmentioning

confidence: 99%