Legacy Growth - Fostering Legacy

06/02/2024

Are you an NRI and defaulted in your tax filings in India - Beware, as the ITO issues plethora of notices to defaulters. Article attached below.

At Legacy Growth - Fostering Legacy we take pride in helping our NRI community in navigating through this challenging journey of filings in India.

Reach out at [email protected] for your queries.

Thousands of NRIs are receiving Income Tax notices from the Indian government. Learn about the recent crackdown on high-value transactions and what it means for NRIs managing finances in India.

05/21/2024

Foreign Tax Credit (FTC) alleviates double taxation on income earned in one country and taxed in more than one - a crucial aspect of international tax planning in today’s globalized world.

Sharing my thoughts on how awareness of key challenges and strategies could help navigating FTC complexities for taxpayers. With special contribution from Rupali Ashar.

Reach out at Legacy Growth - Fostering Legacy # 682 812 1567 for our service offerings.

The Foreign Tax Credit (FTC) alleviates double taxation on income earned in one country, crucial in today's globalized world. Tax Treaties distribute taxing rights between source and residence countries, aiming to prevent double taxation. Navigating FTC complexities requires careful planning, docume...

05/08/2024

As India tax filing season approaches, it's crucial to prepare just like we gear up for summer to beat the heat.

Discover essential tips for seamless IT returns and steer clear of last-minute hassles in a recent article by Rupali Asher from Legacy Growth - Fostering Legacy .

Tax filing season is approaching, plan ahead to avoid last-minute hassles. Check ITR form eligibility, residential status, choose tax regime wisely, maintain proper documentation and more.

04/29/2024

Are you an NRI with India based Income - it’s time to Mark your Calendars - pay your taxes, do your tax filings before due dates.

Monika Khanna Wadhwa - Dallas, Texas
Ankur Pahuja - Canada
Rupali Ashar - India

www.legacygrowth.com

04/22/2024

Estate Planning essentials for Women - a must for the New Age Woman !!

Join Rupali Ashar and Suraj Malik from our India team discover the secrets to building your Legacy and protecting your Wealth.

The session will cover important topics such as the significance of Wills, leveraging Trusts effectively, and navigating tax and legal frameworks governing women's estate rights within the family.

An opportunity to learn and implement powerful tools for securing your future.

If you would like to join or know anyone who would benefit from this, DM for the link.

Legacy Growth - Fostering Legacy

04/17/2024

Cross-border estate planning involves the management and transition planning of assets across different jurisdictions, typically involving individuals or families with connections to more than one country.

Sharing thoughts with etinsights.et-edge.com on how the intersection of legal systems in the US and India creates a web of rules that Indians in the US must carefully navigate to safeguard their legacy.

Taxes and death are certain, however the impact of both can be planned. If you die without a valid will or succession structure like a Trust in place, your

04/16/2024

Unlike the US, India does not have an estate tax. Instead, the transfer of wealth to legal heirs in India is governed by succession laws in the event of intestate death.

The process can be complicated without a Will, but a well-crafted Will combined with a Family Trust can help ensure a smooth inheritance of wealth across generations and jurisdictions in India.

Draw up your Estate Plan before it’s too late.

www.legacygrowth.com

04/15/2024

Are you planning to send money abroad from India?

You should be aware that authorities are now requiring more information about the source of funds to crack down on illegal fund transfers.

However, this doesn't mean you cannot make cross-border remittances. If you have proper income tax and exchange control compliances backed up by robust documents, you can still send money internationally.

www.legacygrowth.com

Under the Liberalised Remittance Scheme (LRS), resident individuals are permitted to transfer up to $250,000 a year abroad to invest in properties and securities, maintenance of relatives, among other specified purposes. Some of the tax professionals and bankers ET spoke to said authorised dealer (A...

04/14/2024

🇮🇳📣 As an NRI how critical is it to ensure that the legacy of your hard-earned assets is preserved for future generations!!

Wealth preservation and protection of Indian wealth of global families can be achieved through curated Estate planning in the form of Wills or Trusts.

We at Legacy Growth take pride in assisting our NRI clients with their India centric estate planning and wealth transition while navigating the intricacies of multi-jurisdictional challenges.

www.legacygrowth.com

04/13/2024

🇮🇳📣Are you an NRI or an OCI having Investment Income in India?

It’s time to take control of your finances and claim the double tax avoidance benefits you deserve !!

File your Indian income tax returns for the period 1 April’ 23 to 31 March’24 by 31 July’ 24.

Reach out to Legacy Growth team for all your India tax filing needs!!

At Legacy Growth, our strength lies in advising HNIs, family offices, and entrepreneurs. We also assist startups with customized solutions, including transaction advisory services for diverse situations.

04/11/2024

At Legacy Growth, we aim to not only act as the ‘Bespoke’ advisors but also hand hold our NRI clients navigate through the cross border tax and regulatory issues.

Follow this page for regular updates on cross border matters impacting the NRIs.

www.legacygrowth.com

03/02/2024

Legacy Growth assists families to meet two of their fundamental objectives - creating legacy and realizing growth.

We recommend and implement effective legal and tax structures for meeting succession and wealth management goals, including asset protection and cross border investments and immigration.

We have the capability to provide comprehensive consulting and project management solutions for M&A transactions or special situations alongside supporting you in wealth preservation, succession and exit planning.

“Every family operates in their own distinctive style with their unique quotient, however one common concern remains the inherently complex family structure. The necessity of a simplistic and efficient family structure is paramount. Legacy Growth assists families to meet two of their fundamental o...