Question : Tax on inheritance is called
Option 1: Excise duty
Option 2: Estate duty
Option 3: Gift tax
Option 4: Sales tax
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Correct Answer: Estate duty
Solution : The correct option is Estate duty.
One term used to describe an inheritance tax is "estate tax." The government imposes an estate tax on assets granted to beneficiaries upon the death of the original owner, including money, real estate, and investments. The inherited assets are taken into account when calculating the tax.
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Question : Which of the following sets belongs to central tax?
Question : Which of the following sets of taxes belongs to the Central Government?
Question : Which among the following is the tax levied by the center and not shared with states?
Question : Which of the following is not an indirect tax?
Question : In India, which of the following taxes is levied by the state government?
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