PDA

View Full Version : Property Received by Will?


kamalwadaich
Dec 9, 2017, 03:36 AM
Is any property received by any will considered to be self-acquired property or inherited in India?

joypulv
Dec 9, 2017, 02:56 PM
I'm not in India, and haven't seen anyone from there in a while here, but I'm 99.999999999% sure that a 'will' anywhere in the world automatically means 'inheritance.'
Whether you owe a tax on it will need to be determined locally. Sometimes there are 2 taxes.
In the US, the amount of tax, if any, requires formally determining the fair market value of the property at time of death.