A rupee saved is a rupee earned. Efficient tax planning increases wealth faster as the compounding effect of income tax (tax drag) is considerably higher than the income tax rate. We help our clients to optimize taxation within the family, minimize overall family tax liability, reduce effective tax rate as a family considering Indian tax laws as well as DTAA. Our advice also help clients better comply with laws, reduce audits or notices, simplify compliances, grow wealth faster, achieve family goals quicker and have peace of mind.
1. Family Tax Optimization
Tax planning of the head of the family (1 person) is not enough. It is extremely important to plan for all the members of the family so that the marginal tax rate for all the family members is the same. We help our clients to minimize the effective income tax rate for the entire family and save significant taxes as a family.
2. Multi Country Tax Planning
One or more members of the family may have tax consequences in more than one country because of employment, investments, business operations, migration, permanent residency or citizenship. We analyze the tax and compliance requirements of India, foreign countries as well as DTAA (Double Tax Avoidance Agreements) articles to plan various types of income in the most tax efficient manner as a family. We also advise people migrating out of India or Ex-pats returning to India for efficient tax planning to reduce overall tax burden considering multiple countries taxation and DTAA.
3. DTAA benefits & TDS
While filing income tax returns, we review DTAA agreements as well as income tax provisions and help our clients to get relief under specific articles of DTAA for the respective nature of income. Our advice also helps our client to increase awareness about TDS provisions relating to Investments and also comply with TDS requirements on purchase and sale of immovable properties.
4. Multi-country Residency & Investments
Not only do we advise a client with multi-country residency or a client who is a resident of one country and has investments in multiple countries, but we also advise clients with multiple country residency and having investments in multiple countries, multiple currencies and multiple asset classes. We manage their investments to give him clarity, set right goals and priorities, streamline investments and compliance and bring peace of mind while giving him a sense of achievement and accomplishments.
5. Bank Account & Money Transfers
We help clients to decide which account (Resident / NRO / NRE / FCNR), which type (Savings / Current / Deposit), when, with which bank, in whose name, why, and how to open, efficiently maintain, close or consolidate the bank accounts. We also guide about how much money to be transferred, in whose name, at what rate, how and for what purpose (gift/ loan/ income/investment) that is the most beneficial, convenient, tax efficient and simple to manage.