Inheritance is a vital component of personal financial planning and wealth management. In India, although inheritance benefits from a favourable tax regime, inadequate planning and lack of legal clarity often result in disputes, procedural delays, and unintended tax exposure for heirs. With this context, the article explores the legal meaning of inheritance, its importance, the tax treatment under the Income Tax Act, 1961, and the…
With the rapid rise of India’s high-net-worth individuals, an increasing number of affluent families are embracing Family Offices to holistically manage their wealth, investments, and financial affairs. These offices offer personalized services, ranging from wealth management and estate planning to tax optimization and risk mitigation, meticulously tailored to each family’s unique needs. One of the most critical aspects of running a family office is Family…
Managing finances in India as a Non-Resident Indian (NRI), Person of Indian Origin (PIO), or foreign national can often seem complex. However, the Reserve Bank of India (RBI) has well-defined regulations that provide clarity on the types of accounts non-residents can open. Understanding these accounts is crucial for efficient fund management, repatriability, and taxation compliance. Understanding NRI and PIO Status An NRI (Non-Resident Indian) is…
