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<h1>New Estate Duty Rules Define Property Value Calculation for Duty Assessment and Distribute Funds to States Annually</h1> The Estate Duty (Distribution) Rules, 1979, established by the Central Government under the Estate Duty (Distribution) Act, 1962, replace the 1963 rules. These rules outline the calculation of the gross value of properties, both movable and immovable, for estate duty assessment. For deaths before July 1, 1960, specific property value thresholds are set, while post-July 1, 1960, a uniform threshold applies. Estate duty distribution to states occurs in two instalments annually, with final adjustments based on the Comptroller and Auditor-General's certification. Any discrepancies in payments to states are rectified according to the Act's provisions.