Professional Documents
Culture Documents
By
Ms. Vintee Mishra,
Brain League IP Services
However, since, the Indian provisions
are not existing & since my paper is
drafted keeping in mind only the Indian
aspect, therefore it was tough 2 frame
how to tax the wealth, i.e. 2 devise
methodology for the same.
What is wealth?
1.Total of all assets that people own.
2.Example – home, other real estate etc
3.From that, subtract the debts like, mortgage
debt on your home
4.Difference is referred to as net worth, or
just wealth.
Why Wealth?
1. As against income, wealth is more important to
be taxed.
2. Two people having the same income may not be
as well off if one person has more wealth. If one
person owns his home, for example, and the
other person doesn’t, then he is better off.
3. Provides financial security.
4. Assets – A safety blanket.
IP Holding & Wealth Tax
1.Holding of any property is directly proportional to the
right over it via ownership.
2.Income come from various sources & channels, thus,
ownership is not required here.
3.Holding of intellectual property = ownership = wealth
4.Thus taxation of this wealth is discussed here.
IP Assets & Debts
Assets Debts