Description:
The first $5 million taxed at 35%. The reintroduction of the estate tax is forcing a rethink among wealthy Indian –origin American citizens. The estate tax is imposed on ‘all global’ movable and immovable estate’s administrator before any distribution is made to his or her inheritor.
Source:
1. www.tpcc.in.
2. The Tax Referencer .Volume117. Issue No.2 10 January2011 Page No.93.
Our Comment: Proposed Estate Tax In USA On Global Assets Is A Setback For NRI.
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