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Wealth Planning · Step 1 of 5

1Overview›
2ESOP›
3NRI Wealth›
4Business Owner›
5PMS & AIF
Wealth & Treasury Management

CA-Led Wealth Advisory — Overview

Wealth Advisory Hub

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Overview

Wealth advisory services is the coordinated suite for the management of a family's or an individual's wealth — the financial planning, the investment management and the asset allocation, the tax planning under the Income-tax Act 1961, the estate and the succession planning, the insurance and the risk management, and the retirement planning. The hub is the single engagement through which the client's wealth is planned, invested, protected and passed on.

The wealth advisory runs across the client's financial life — the goals and the plans, the investments and the allocation, the tax and the structures, the insurance and the risks, the estate and the succession — and its value is the coordination of the parts. The tax position of the investments, the structure of the estate, the protection of the family — each is a layer the hub keeps aligned with the client's goals and the law.

The cost of an unmanaged wealth position is the compounding of the small gaps: the investments without the allocation, the tax paid that the structure should have avoided, the estate that was never planned, the insurance that never matched the need — each a leak in the wealth the family is building.

This service is for individuals and families seeking the coordinated wealth advice. We map the client's financial position and the goals, plan the investments and the allocation, manage the tax positions under the Act, structure the estate and the succession, review the insurance and the risks, and review the plan annually — so the wealth is planned, invested, protected and passed on as one coordinated position.

How It Works

  1. 1

    Wealth & Goals Mapping

    We map the client's wealth, the goals and the risk profile.

    Harun Raaj & Associates does this1 week
  2. 2

    Investment & Allocation Plan

    We plan the investments and the asset allocation.

    Harun Raaj & Associates does this1 week
  3. 3

    Tax & Structure Planning

    We plan the tax positions and the structures under the Act.

    Harun Raaj & Associates does this1 week
  4. 4

    Estate & Risk

    We structure the estate and the succession and review the insurance.

    Harun Raaj & Associates does this2-4 weeks
  5. 5

    Annual Review

    We review the plan annually as the goals and the law change.

    Harun Raaj & Associates does thisAnnual

Frequently Asked Questions

How can a business owner structure the sale of their company to minimise capital gains tax?
Capital gains on the sale of shares held for more than 24 months in an unlisted company are long-term and taxed at 20% with indexation under Section 112 of the Income Tax Act 1961. If the promoter sells their shares in a listed company, long-term gains above ₹1.25 lakh are taxed at 12.5% under Section 112A of the Income Tax Act 1961 (amended by Finance Act 2024). Reinvestment of gains (not sale proceeds) in bonds issued by NHAI or REC within six months of transfer qualifies for exemption of up to ₹50 lakh under Section 54EC of the Income Tax Act 1961. Additionally, structuring a partial stake sale through a family trust can spread the capital gain across beneficiaries, and a slump sale of a business undertaking is taxed under Section 50B with a specific net worth computation — sometimes more favourable than a share sale.
What is the most tax-efficient way for a promoter to transfer wealth to children?
Gifts of money exceeding ₹50,000 received by an individual from a non-relative are taxable under Section 56(2)(x) of the Income Tax Act 1961, but gifts to 'relatives' (as defined in the Explanation to Section 56(2)(x)) including children, spouses, and parents are fully exempt regardless of amount. Gifts of immovable property or securities to children are therefore not taxable in the child's hands if made without consideration. However, under Section 64 of the Income Tax Act 1961 (clubbing provisions), income earned by a minor child on gifted assets is clubbed with the parent's income until the child turns 18 — except for income arising from the child's own skill or talent. To avoid long-term clubbing, establishing a private discretionary trust under the Indian Trusts Act 1882 and transferring assets to the trust (with the child as beneficiary on reaching adulthood) is a more effective wealth transfer mechanism.
How should a family business owner plan for succession to avoid disputes and tax complications?
Succession planning for a family business typically involves a combination of a registered Will under the Indian Succession Act 1925, a Family Settlement Agreement (which courts have held to be enforceable and non-taxable under Section 56(2)(x) as it settles pre-existing rights), and restructuring shareholding through a holding company or family trust. For Hindu Undivided Families (HUFs), partition under Section 171 of the Income Tax Act 1961 is tax-neutral but requires a formal partition deed registered with the jurisdictional Assessing Officer. Any transfer of business assets between family members outside of a court-sanctioned partition or Will may attract capital gains tax, stamp duty under the relevant State Stamp Act, and gift tax provisions. We recommend a wealth transfer memorandum that maps each asset, its cost of acquisition, indexed cost, and the most tax-efficient transfer route for each.
Can a high-net-worth individual set up an AIF to manage family wealth, and what are the tax rules?
Yes. A Category III Alternate Investment Fund (AIF) registered under the SEBI (Alternative Investment Funds) Regulations 2012 can be set up by an HNI promoter to pool and manage family wealth, provided SEBI's eligibility conditions (minimum corpus of ₹20 crore, minimum investor commitment of ₹1 crore) are met. For Category I and II AIFs, income is passed through to investors and taxed in their hands under Section 115UB of the Income Tax Act 1961 — the AIF itself is not taxed. For Category III AIFs, the fund is taxed at the fund level on short-term capital gains at 30% and long-term gains at 10% or 20% depending on asset class. Setting up an AIF purely for family wealth management requires SEBI approval and a fund manager with relevant experience; it is more appropriate for promoters who also plan to bring in external investors to participate alongside family capital.
How does FEMA affect wealth advisory for promoters with overseas assets or NRI family members?
Resident Indian promoters must declare all foreign assets including bank accounts, securities, and immovable property held abroad in Schedule FA of ITR-2 or ITR-3, as required by Section 139 of the Income Tax Act 1961 (≡ §263/§349, IT Act 2025) read with Rule 114B of the Income Tax Rules 1962, and failure to disclose attracts penalties under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015. Remittances abroad by a resident individual are governed by the Liberalised Remittance Scheme (LRS) under FEMA — the annual ceiling is USD 250,000 per individual under RBI's Master Direction on LRS. Gifts received from NRI relatives are exempt under Section 56(2)(x) of the Income Tax Act 1961 but must be received through normal banking channels and disclosed if the cumulative annual amount triggers Schedule FA or Tax Collected at Source provisions under Sec 206C(1G), IT Act 1961 (≡ §394, IT Act 2025) applicable to AD Banks. Cross-border estate planning for families with NRI members must navigate both Indian succession law and the FEMA regulations on acquisition of immovable property by non-residents under Section 6(5) of FEMA 1999.

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