Estate duty, also called inheritance tax or succession duty. It is a tax imposed by the government on the estate or inheritance left by a deceased person to their heirs. It was abolished in India since 1985.
It was governed by the Estate Duty Act, 1953. The rate of estate duty depends on the value of the estate.
After the abolition of estate duty, there is no specific tax on inherited estates. However, other taxes, such as income tax and capital gains tax, are applied on inherited assets or properties.
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What is Estate duty?
Radha Krishna
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2023-09-11T08:06:50+00:00 2023-09-11T08:17:56+00:00Comment
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