Inheritance tax in the US is applicable when the person who dies passes on assets lived in one of the six states. It is the state where the decedent lives, and not the beneficiary, that determines if an inheritance tax applies. It is currently imposed by six US states. Iowa, however, will abolish it by 2025
Every year on July 24th, the Income Tax department of India commemorates Income Tax Day, also known as Aaykar Diwas , to mark the historic introduction of income tax in the country. This day serves as a reminder of the importance of taxes and their role in nation-building.