How high are inheritance taxes in India?
Technically, any individual is entitled to receive, including by inheritance, property situated in India regardless of his residency or citizenship. But and here is the problem – the transfer of ownership, and the holding of the property, must adhere to the Foreign Exchange Management Act (FEMA). According to FEMA Regulation 2000, a non-resident who is a citizen of India can only transfer properties to (a) a resident of India, (b) a citizen but not a resident, and (c) a non-resident of Indian origin. Non-residents of Indian origin (i.e., not citizens) may in contrast only transfer properties to residents. Non-Indians may only receive Indian properties if they are residents of India. No inheritance or gift tax is levied in India. However, the recipient of assets is subject to wealth tax.
