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Guest (Querist) 21 October 2013 This query is : Resolved
I read that in USA, UK, etc there is a Inheritance property tax? Does it mean that after the death of parents, son/daughter has to pay 40-50% inheritance tax in order to live in their parents house?
what if son/daughter is a college going student how will they pay 40-50% tax in order live in his parents house? I read in newspaper that it is also going to launch in India soon. I read it on newspaper. http://articles.economictimes.indiatimes.com/2012-11-09/news/34994180_1_inheritance-tax-stable-tax-regime-wealth-tax
How will dependent child pay that tax after such incident.

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M V Gupta (Expert) 21 October 2013
The inheritance tax is otherwise called in India as Estate Duty. In Uk this duty may be still in existence. But in India the Estate Duty Act was repealed long time ago as there was a bitter criticism from the public. It is unfortunate that the this corrupt Govt is thinking on reintroducing the duty once again. All informed persons should unite and oppose reintroduction of the tax. Let us all be alert.

ajay sethi (Expert) 21 October 2013
as on date there is no estate duty in india .

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