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Is Inherited Property Taxable? | All you need to know about Inheritance Tax in India

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Описание к видео Is Inherited Property Taxable? | All you need to know about Inheritance Tax in India

As you know, all kinds of gifts including cash, gold, real estate, or any other item valued at more than Rs. 50,000 are taxable under the IT Act.

But are you aware that any assets or money received via a will or inheritance are exempted?

Yes, you heard that right! Inheritance from family (as defined under the IT Act 1961) doesn't get taxed, irrespective of the value.

Want to know more about what kind of gifts are exempted from Income Tax?

Watch the full video here - • Income Tax Exemption On Gifts | Are The Gi...

#incometax #personalfinance #assets #inheritance #gifts #exemption

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