Tax on inheritance is called
(A) Excise duty
(B) Estate duty
(C) Gift tax
(D) Sales tax
Correct Answer : Estate duty
Question Asked : SSC CGL Tier-I (CBE) Exam 2016
Explanation : Estate duty is a tax on the total market value of a person's assets at the date of his or her death. The deceased person's assets, as a whole, are called an estate. Inheritance tax is levied on assets that legal heirs inherit, while estate duty is applicable on the assets of those who are dead.
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