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India News

Amid Budget relief, a look at when Indira Gandhi taxed income at 97.5%

It was under then Prime Minister and Congress leader Indira Gandhi that India saw the highest tax rate of 97.5% in 1973-74. Indira saw taxation as "a major instrument to achieve greater equality of incomes and wealth". A look at the high rate of taxation during the Indira era amid major tax relief proposed in Budget 2025-26.

The personal income tax had 11 tax brackets in 1970-71 during the prime ministership of Indira Gandhi.
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