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A 'Will' is a written legal document used to specify how the assets and property of an individual will be distributed after their demise. An NRI creating a Will in India needs to follow some specific legal steps. Some key tips include maintaining a detailed inventory of Indian assets, appointing a trusted executor in India, and ensuring the Will is signed in the presence of two witnesses.
Although there is no specific inheritance tax in India, different tax implications may apply while transferring an inherited property. Additionally, NRIs who have significant assets in India can create a trust to offer more structured asset distribution. Being distant from India can create problems in managing the documents and legal requirements of creating a Will. However, careful planning and regular reviews can help create an effective and relevant Will. In this blog, we will learn some tips for an NRI creating a property Will in India, including tax implications, errors, strategies, and the steps to create a Will in India.

Mr. Ritesh has 20 years of experience in taxation, accounting, business planning, organizational structuring, international trade financing, acquisitions, legal and secretarial services, MIS development, and a host of other areas. Mr Jain is a powerhouse of all things taxation.
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