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    Rockhaven3's Avatar
    Rockhaven3 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 10, 2012, 05:50 AM
    Indian inheritance tax?
    I inherited land (along with my brother & two sisters near Bangalore, India. In 2005 we were paid (only half our payment)and was told at the time that Inheritance tax was 2.44% and we were "obliged to pay this" before we took the money out of India. We lived in UK, & Spain at this time. We were ALL born in India (all with current UK Passports)All "given permission" by the Reserve Bank of India to hold and later sell our land. The final payment of our inheritance is due this year. I was wondering what the current Inheritance Tax would be. The actual amount amount we collectively inherited was 2,60,00000.

    We now have two of us still in the UK, one in Europe and one in Goa. Will be still paying 2.44% Inheritance Tax?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Feb 11, 2012, 12:26 AM
    There is no inheritance tax in India.
    Also this forum is only about US taxes.
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