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Question : Tax on inheritance is called

Option 1: Excise duty

Option 2: Estate duty

Option 3: Gift tax

Option 4: Sales tax


Team Careers360 12th Jan, 2024
Answer (1)
Team Careers360 20th Jan, 2024

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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