On transferring the property under Will, is any Tax to be paid by benificiary for properties received by them?



Benificiaries receive money as well as immovable properties. Do they have to pay any income tax, gift tax or any other taxes?

On transferring the property under Will, is any Tax to be paid by benificiary for properties received by them?
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2 Replies to “On transferring the property under Will, is any Tax to be paid by benificiary for properties received by them?”

  1. If a person receives anything under a will on testament, then he is not liable to pay any taxes, howevr he shall be liable to taxes on income received on the said properties after he has become the owner

    vk


  2. no. say i get a house from my parents i dont have to pay any taxes. if I get a cash, still now taxes, but I do have to pay taxes if I sell the house and if I earn an income on the amount becoming mine from inheritence.
    in short no taxes to be paid on receiving any thing from inheritence.





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