Inheritance in India – Tax Advisory for Legal Heirs and NRIs
Inherited an Indian property, shares, or bank accounts? While India has no inheritance tax, inherited assets carry important income tax and FEMA implications. Nainit Savla & Associates guides legal heirs and NRI heirs through succession certificates, capital gains planning, income tax compliance, and repatriation of inherited proceeds.
Succession Certificate & Probate
Advisory on obtaining succession certificate (for movable assets) or probate (for immovable assets under a will) — the legal prerequisites for claiming inherited assets and transferring ownership.
Capital Gains on Inherited Property
Computation of capital gains when selling inherited property — cost of acquisition from original owner, FMV as on 1 April 2001, holding period calculation, and Section 54/54EC exemption planning.
NRI Inheritance Advisory
Advisory for NRI legal heirs inheriting Indian assets — property registration, bank account claims, share transmission, income tax implications, and FEMA-compliant repatriation of inherited proceeds.
Inherited Property Income Tax
Advisory on reporting income from inherited property — rental income, interest on inherited FDs, and dividends from inherited shares — in the heir's annual ITR from the date of inheritance.
Estate Distribution Planning
Advisory on efficient distribution of inherited estate among multiple heirs — partition deeds, family settlement agreements, and the income tax implications of each distribution method.
Repatriation for NRI Heirs
FEMA-compliant repatriation of inherited assets from India — sale of inherited property, realisation of inherited FDs and shares, and Form 15CA/CB for remittance abroad within USD 1 million limit.
Tax Treatment of Inherited Assets in India
| Asset Type | Tax on Inheritance | Capital Gains on Sale |
|---|---|---|
| Immovable Property | No tax on inheritance itself | STCG at slab rate or LTCG at 12.5% depending on holding period |
| Listed Shares | No tax on inheritance itself | STCG at 20% or LTCG at 12.5% — holding period includes deceased's holding |
| Fixed Deposits / Cash | No tax on principal; interest after inheritance taxable | Not applicable |
| Mutual Fund Units | No tax on inheritance itself | Equity or debt fund rates; cost and period from original owner |
Why Choose Nainit Savla & Associates?
Our team guides legal heirs through every step of inheritance compliance — obtaining succession certificates, computing capital gains on inherited assets, filing heir's ITR with inherited income, and managing FEMA-compliant repatriation for NRI heirs. We ensure inherited wealth is transferred and managed correctly from day one.
Inherited Indian Assets? Get Expert Tax and Legal Advisory.
From capital gains computation on inherited property to NRI repatriation compliance — our team guides legal heirs through every step.
Contact Us TodayF.A.Q.
GSTR-9 is an annual GST return that summarizes all transactions reported during the financial year. It is required to ensure proper reconciliation and compliance with GST laws.
All regular GST-registered taxpayers are required to file GSTR-9, except composition dealers, casual taxable persons, and non-resident taxpayers.
The due date is generally 31st December following the end of the relevant financial year, unless extended by the government.
It includes details of outward supplies, inward supplies, input tax credit claimed, taxes paid, and adjustments made during the year.
GSTR-9 is mandatory for most regular taxpayers, but certain small taxpayers may get exemptions based on turnover thresholds notified by the government.
Late filing may result in penalties and late fees, along with potential compliance issues or notices from GST authorities.
