Indian high-net-worth families are increasingly turning to trusts instead of wills to transfer their properties, seeking greater control, privacy, and tax efficiency.
The Ratan Tata- Cyrus Mistry fallout brought to the fore the good, the bad and the ugly picture of the happenings in the Tata family. The unending Tata-Mistry spat says that all is not well in the family especially with Mistry demanding for increased transparency and higher corporate governance standards in both Tata Sons and Tata Trusts.
"The suspicious part of the whole rush for temple donations and opening six deposit accounts is that they were triggered immediately after Prime Minister Narendra Modi made the announcement of demonetising currency notes of Rs 1,000 and Rs 500 denomination," the minister said.
Sebi also proposed removal of restrictions on REITs (Real Estate Investment Trusts) relating to investment in special purpose vehicle (SPV) structures while norms relating to related party transactions would also be eased.
With a possible inheritance tax around the corner, trusts are back in favour, especially when it comes to wealth management and succession planning, reports CNBC-TV18‘s Ashmit Kumar.