• Inheritance

Do legal and natural heirs pay stamp duty and inheritance tax upon inheriting a family property in West Bengal, if so, what do these amount to?
Asked 4 years ago in Property Law
Religion: Hindu

2 answers received in 1 hour.

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11 Answers

You don’t pay any inheritance tax upon inheriting any family property 

 

If deceased left a will and you apply for probate of will you ha r to pay court fees for issue of probate 

Ajay Sethi
Advocate, Mumbai
100092 Answers
8174 Consultations

No they do not pay any inheritance taxes as far as immovable property is concerned. In case of maturity of a movable property ie shares etc. Taxes may be levied.

Rahul Mishra
Advocate, Lucknow
14114 Answers
65 Consultations

For mutation records entry no stamp duty and registration charges require for legal heirs.

 

Yes if there is any tax pending from past then before entering legal heirs names on mutation records all those tax needs to be clear by paying government dues.

Ganesh Kadam
Advocate, Pune
13008 Answers
267 Consultations

Hi, no need to pay the  inheritance tax in India. 

Pradeep Bharathipura
Advocate, Bangalore
5625 Answers
339 Consultations

No stamp duty or inheritance tax is applicable 

Yusuf Rampurawala
Advocate, Mumbai
7939 Answers
79 Consultations

- for inheriting the family property , no stamp duty required to pay .

Mohammed Shahzad
Advocate, Delhi
15881 Answers
244 Consultations

1. There is nothing called inheritance tax in West Bengal.

 

2. No Income Tax is also levied on the consideration received after selling the inherited properties.

 

3. You shall have to mutate your name in the records of BLRO/Municipal Corporation on receipt of legal heir certificate n connection with the said property.

Krishna Kishore Ganguly
Advocate, Kolkata
27738 Answers
726 Consultations

Unless proprieties gets change of hands there is no question of stamp duty payment. 

Devajyoti Barman
Advocate, Kolkata
23670 Answers
538 Consultations

What is inheritance tax, this is a term unknown in the legal circle.

If at all the co-sharers would desire to partition the property among themselves, then they may have to pay the application stamp duty  to get the partition deed executed by a registered document. 

T Kalaiselvan
Advocate, Vellore
90295 Answers
2513 Consultations

Dear Sir,

1. You do not have to pay stamp duty on inherited property.

2. Under Section 56 (ii) of the IT Act, there is no Inheritance Tax applicable in India irrespective of the cost of the property you inherit. However, if you decide to sell one such inherited property, the capital gains will be taxed.

Thank you!

Anik Miu
Advocate, Bangalore
11114 Answers
125 Consultations

No

Prashant Nayak
Advocate, Mumbai
34753 Answers
252 Consultations

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