Posts Tagged ‘super rich’

Real Estate and Business key source of wealth for super rich

Real Estate and Business key source of wealth for super rich

Super rich is mouth-watering word. Today everyone wants to be super rich but very few knows how super rich generate wealth, where they invest and how they spend. We are herewith quick report on super rich. Risk and reward are adjacent to each other. Super rich understand this fact very well. Super rich have strong preference for investing in to riskier asset class.  Real estate and equity are key source of wealth for super rich says Kotak Wealth Management Report […]


35% Tax Slab on Super Rich DTC Draft

35% Tax Slab on Super Rich DTC Draft

Government is about to implement Direct Tax code. Revised draft of DTC is posted on finance ministry website today. As per new DTC draft exemption limit at Rs 2 lakh is kept as it is and forth slab is introduced for super rich. Draft said tax the super rich heavily.  Proposal is new tax slab of 35% for income exceeding Rs 10 crore. In our earlier post we have debated a lot on taxing super rich at higher rate. The DTC Committee […]


Super Secrets of Super Rich

Super Secrets of Super Rich

If you are earning 1Cr in year you will be considered as super rich and you have to pay 10% additional surcharge as per union budget 2013-14. As per official figures in India we have 42,800 people who are earning 1 Cr+ income (in short they are member of super-rich club). If we talk in terms of percentage considering India’s population 121 Cr only 0.03% are member of super rich club. What makes this super rich different from others? Is […]


Tax the super-rich at a higher rate

Tax the super-rich at a higher rate

Recently we have seen recommendation of FICCI on income tax rate change in post New Tax Slab – I wish. As per FICCI highest income tax rate of 30 percent should be levied on income above Rs 20 lakh as against Rs 10 lakh currently. Another recommendation is given by C Rangarajan, a key economic advisor to Prime Minister Manmohan Singh that government could consider imposing a marginal tax rate higher than the current 30% on those with “substantially higher income”. This […]