India currently has no inheritance tax, but inherited assets may be taxed if sold, and the debate on reintroducing the tax for wealth redistribution continues.
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This means you won't pay any tax solely for inheriting assets or property, as India does not currently have an inheritance tax.
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An inheritance tax, the Estate Duty, existed in India from 1953 to 1985 & It was abolished due to its complexity.
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While there's no inheritance tax, you might need to pay income tax if you decide to sell the inherited property.
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Inheriting through a will or receiving assets as a gift isn't considered a taxable event under current Indian law.
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No stamp duty is required for inheriting property through intestate succession without a will.
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The concept of inheritance tax is occasionally debated in India, with some arguing it could help reduce wealth inequality.
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Tax laws can change, so it's advisable to consult a tax advisor for the latest information on inheritance and property-related taxes in India.