Queen Elizabeth The Queen Mother bulk of her estate, estimated to be worth between £50 and £70 million, including paintings, Fabergé eggs, jewellery, and horses, to her surviving daughter, Queen Elizabeth II. Under an agreement reached in 1993, property passing from monarch to monarch is exempt from inheritance tax, as is property passing from the consort of a former monarch to the current monarch, so a tax liability estimated at £28 million (40 percent of the value of the estate) was not incurred. The most important pieces of art were transferred to the Royal Collection by Elizabeth II. Following her death, the Queen successfully applied
Income tax in India FY 2015-16, the due dates and amount of advance tax were different for corporate taxpayers and individual taxpayers.However, from FY 2016-17, both categories of taxpayers were brought at par. Further, individuals opting presumptive scheme of taxation u/s 44AD, 44ADA are liable to pay advance tax in single instalment. The due dates of payment of advance tax for F.Y 17-18 are:- Any default in payment of advance tax attracts interest under section 234B and any deferment of advance tax attracts interest under section 234C. The general rule is that the total income of an assessee for the previous year is taxable