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-   -   Property Received by Will? (https://www.askmehelpdesk.com/showthread.php?t=835963)

  • Dec 9, 2017, 03:36 AM
    kamalwadaich
    Property Received by Will?
    Is any property received by any will considered to be self-acquired property or inherited in India?
  • Dec 9, 2017, 02:56 PM
    joypulv
    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.

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