What is the difference between death tax and estate tax?

What is the difference between death tax and estate tax?
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Answer :

Inheritance taxes and estate taxes differ only in who pays and to whom the tax is paid. Learn the differences between inheritance and estate taxes.
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‘A person who in law represents the estate of a deceased person, and includes any person who intermeddles with the estate of the deceased and where a party sues or is sued in a representative character the person on whom the estate devolves on the death of the party so suing or sued’ is called (a) Legal Heir (b) Next friend (c) Legal representative (d) None of the above

Description :   A person who in law represents the estate of a deceased person, and includes any  person who intermeddles with the estate of the deceased and where a party sues or is  sued in a representative character the ...  (a) Legal Heir (b) Next friend (c) Legal representative (d) None of the above

Last Answer : (c) Legal representative

Do I have to pay more real estate tax, registration number but permanent residence?

Description : We have a permanent residence in a house managed as a recreational facility. I read that we don't have to pay more property tax due to permanent residence. The FI requires a conversion to a ... which means re-approval and various certificates and permits, which is costly. Can you advise? Thank you

Last Answer : Need Answer

What tax implications will I face from purchasing a Real Estate Rental property?

Description : What tax implications will I face from purchasing a Real Estate Rental property?

Last Answer : Purchasing a rental property can be an excellent tax advantage, actually. YOu will be able to deduct most of your maintenance, repair, interest, taxes, and some travel expenses - similar to running a business, the costs of maintaing the home will be deducted from your actual rental income.

How much is estate tax in texas?

Description : How much is estate tax in texas?

Last Answer : There are no property taxes in Texas currently. However, the estate tax is a federal tax, and as of 2010 it was up to the first $5 million being deductible.

Which of the following taxes is exclusively and totally assigned to the Central Government by the Constitution? (1) Estate Duty (2) Sales Tax (3) Taxes on Railway Fares and Freights (4) Corporation Tax

Description : Which of the following taxes is exclusively and totally assigned to the Central Government by the Constitution? (1) Estate Duty (2) Sales Tax (3) Taxes on Railway Fares and Freights (4) Corporation Tax

Last Answer : (4) Corporation Tax Explanation: The authority to levy a tax is derived from the Constitution of India which allocates the power to levy various taxes between the Centre and the State. Article ... taxes on capital of companies; estate duty in respect of property other than agricultural land, etc.

Tax on inheritance is called - (1) Excise duty (2) Estate duty (3) Gift tax (4) Sales tax

Description : Tax on inheritance is called - (1) Excise duty (2) Estate duty (3) Gift tax (4) Sales tax

Last Answer : (2) 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 ... on assets that legal heirs inherit, while estate duty is applicable on the assets of those who are dead.

Which of the following is an indirect tax? (1) Capital Gains Tax (2) Excise Duty (3) Wealth Tax (4) Estate Duty

Description : Which of the following is an indirect tax? (1) Capital Gains Tax (2) Excise Duty (3) Wealth Tax (4) Estate Duty

Last Answer : (2) Excise Duty Explanation: Some examples of indirect taxes include value added tax, excise duty, sales tax, stamp duty and custom duty levied on imports. These are taxes levied by the slate on expenditure and consumption, but not on property or income.

Under the Economic Growth and Tax Reconciliation Act of 2001, when will estate taxes be eliminated? A. 2008 B. 2009 C. 2010 D. The estate tax will not be eliminated

Description : Under the Economic Growth and Tax Reconciliation Act of 2001, when will estate taxes be eliminated? A. 2008 B. 2009 C. 2010 D. The estate tax will not be eliminated

Last Answer : D. The estate tax will not be eliminated

Which of the following is an indirect tax ? (1) Capital Gains Tax (2) Excise Duty (3) Wealth Tax (4) Estate Duty

Description : Which of the following is an indirect tax ? (1) Capital Gains Tax (2) Excise Duty (3) Wealth Tax (4) Estate Duty

Last Answer : Excise Duty

Tax on inheritance is called (1) Excise duty (2) Estate duty (3) Gift tax (4) Sales tax

Description : Tax on inheritance is called (1) Excise duty (2) Estate duty (3) Gift tax (4) Sales tax

Last Answer : Estate duty 

The PPF account a) Cannot be attached any order or decree of court b) Is totally exempted from income tax c) In the event of the death of the depositor , the amount standing to his credit can be repaid to his nominee or legal heir even before expiry or 15 year d) All the above

Description : The PPF account a) Cannot be attached any order or decree of court b) Is totally exempted from income tax c) In the event of the death of the depositor , the amount standing to his credit can be repaid to his nominee or legal heir even before expiry or 15 year d) All the above

Last Answer : d) All the above