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Assets received under will by non relatives

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 March 2017 A PERSON LIVING ALONE EXECUTE WILL IN FAVOUR OF NON RELATIVE WHO IS TAKING CARE SINCE LONG - WHAT IS TAX IMPLICATION ON RECEPIENT OF MOVABLE & IMMOVABLE ASSETS ?
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Ruchi

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Ruchi (Expert)
17 March 2017 Assets/money/property received by will/ inheritance is exempt from tax whether received from relative or non-relative.
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CA Gopal Somani

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CA Gopal Somani (Expert)
17 March 2017 All gifts under a will, and all amounts received on the death of a person as a part of the inheritance, are fully exempt from Income tax whether Relative or Non Relative.
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