We are pleased to share with you the video link of our web series #TaxMantra on the contemporary topic of "AAR to BAR - A Quantum Change".

Presently, India does not have an estate duty. The Estate Duty Act, 1953 which sought to impose an estate duty in India on property passing on demise was repealed in the year 1985.

We are pleased to present the latest edition of Tax Street – our newsletter that covers all the key developments and updates in the realm of taxation in India and across the globe for the month of June 2019.

An Estate Tax is levied on the inherited portion of an estate of an heir if the value of such an inheritance exceeds an exclusion limit which has been set by the Law of the land.

1.1 Estate duty was a form of tax which was levied on the total value of the property held by an individual calculated at the time of his / her demise.

While India does not currently impose an inheritance tax or estate duty, the growing global trend toward wealth taxation, along with increasing scrutiny...

1.1 Wealth in India has surged massively in the past few decades. The number of Indians with net wealth exceeding USD 1 (One) billion rose from 1 Indian in 1991 to 162 Indians in 2022.

At a time when more Asian families are building wealth across multiple countries, protecting that wealth has become just as important as growing it. Many successful families today manage businesses, investments, and properties across countries while they plan for future generations living around the world. When assets, businesses, and future generations are spread across different jurisdictions, choosing the right legal structure becomes an important part of long-term wealth planning.

India's corporate landscape is dominated by family-controlled businesses, which constitute approximately 80% of all enterprises and contribute about 79% to the national GDP.

The fundamental principles of estate planning are seamless succession of assets and protection of assets from all legal & fiscal risks.

In India, Non-Resident Indians (NRIs) are subject to the country's succession laws concerning the inheritance of property situated within Indian territory.

As the assets of individuals and businesses grow, so does the magnitude and complexity of the monetary risk. Tax efficiency for the wealth of individuals and families is a fusion of assets held by the family...