Q.

Tax on inheritance is called -

A. Excise duty
B. Estate duty
C. Gift tax
D. Sales tax
Answer» B. Estate duty
Explanation: Estate duty is a tax on the total market value of a person's assets at the date of his or her death. The deceased person's assets, as a whole, are called an estate. Inheritance tax is levied on assets that legal heirs inherit, while estate duty is applicable on the assets of those who are dead.
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