India’s tax landscape around inherited assets is far simpler than many assume. While questions often arise about how inherited property, gold, or investments are taxed, experts clarify that the act of inheriting itself carries no tax burden. Yet, depending on what heirs eventually do with the assets, specific income-tax and foreign-exchange rules may apply. Advertisement

India scrapped its wealth tax in 2015 and abolished inheritance and gift taxes long before that. As a result, assets passed down through generations—whether real estate, jewellery, or financial investments—can be received tax-free. “Inheritance tax, estate duty, gift tax, and wealth tax are all abolished in India—therefore no tax liability arises under these laws,” said Lokesh Shah, Partner at CMS IndusLaw.

Shah explain

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