Advise on Tax Planning through Trusts
A Trust is used as an instrument to hold property for dependents and family members (intended beneficiaries), and alongside reducing the burden of tax. The law governing Trusts in India is codified and contained in the Indian Trust Act, 1882. A Trust is one of the ways through which an individual can plan for his/her Estate. The other ways of Estate planning are Wills, Insurance, Gift, Power of Attorney, transfer of property and partition. It can be used for family tax planning purpose also.