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    kamalwadaich's Avatar
    kamalwadaich Posts: 1, Reputation: 1
    New Member

    Dec 9, 2017, 03:36 AM
    Property Received by Will?
    Is any property received by any will considered to be self-acquired property or inherited in India?
    joypulv's Avatar
    joypulv Posts: 21,593, Reputation: 2941
    current pert

    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.

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