What is the best way to manage taxes of passive income?
Passive income adds up to the salary and more tax being deducted.. Examples of passive incomes are interest payout of bond or dividend payout.. Any good strategic ideas pls share.. Will be helpful. TIA
Setup a LLP. This invests on your behalf and you get advantage of the lower tax rate.
*the math works only if you have a sizeable corpus and total taxable income (salary + passive) exceeds 1 cr pa.
A half decent financial advisor should be able to set this up.
Hi, Thanks for your suggestion. What about HUF and PVT Ltd company and one individual company option? I want to nil the tax on passive income. Is it possible?
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