When estate duty was in operation people hid their wealth in ‘mattresses and gold bars’ rather than keeping it in bank accounts in order to pass it on to the next generation, he noted.
Estate duty is a form of inheritance tax imposed on the total value of the bequeathed assets of a deceased person, earned by him throughout his lifetime till the date of his demise
The general consensus among many experts today, is that there is limited choice for new real estate investments in India‘s metropolitan regions, given the spiralling prices of real estate and the lack of confidence R
With the Union Budget just a couple of hours away, expectations are running sky high from what finance minister P Chidambaram might announce to boost the sagging economy.
The noise against a proposal to recall the infamous estate duty to life is gaining volume. CNBC-TV18's Ashmit Kumar finds out what one can do to reduce the burden of this tax, should it come to pass.