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 for FY 2017-18 (or AY 2018-19).This section shall be applicable on all persons including Individual, HUF, Company, Firm, AOP etc., if the return is filed after their respective due dates.Financial year 17-18 would be the first year when any such fees would be leviable without the intervention of Assessing Officer. When taxpayers dispute the income tax demands raised on them, a structured appeal process has to be followed. The first level of appeals lies with the CIT (A). The next level of appeal lies with the Income Tax Appellate Tribunal - an independent body, which is the final fact finding