# Family Enterprises & Private Wealth Promoter groups, family offices, and individuals planning for control, succession, and liquidity. The hardest questions in a family business are rarely about tax. The tax consequences arrive later. Family enterprises mix business decisions and family decisions in the same structure. Over a generation, entities multiply, shareholdings drift, related party transactions become routine, and personal wealth becomes hard to separate from the balance sheet of the business. Professionalising the enterprise means separating those threads without breaking what already works. We advise promoters and families on structure, governance, and tax across both the business and the wider portfolio. ## On the agenda Governance ### Separating ownership, control, and management Succession usually fails on unclear roles long before it fails on structure. A family constitution that sets out who may own, who may manage, and how disagreements are settled gives the eventual legal structure something to implement. The choice of vehicle, whether a holding company, a trust, or an LLP, **should come last**. Related parties ### Related party transactions, as a minority shareholder sees them Transactions between family companies and family members need approval under Section 188 of the Companies Act where they fall outside the ordinary course of business or are not at arm’s length, and they must be disclosed under IAS 24 (Ind AS 24). When outside investors or lenders arrive, these flows are the first thing they look at. Tax ### Planning across years, businesses, and portfolios A promoter’s income may come from salary, dividends, capital gains on listed and unlisted shares, alternative investment funds, portfolio management services, and assets abroad. Planning across several years, timing realisations and sequencing exemptions, produces results that filing one year at a time cannot. Foreign assets and income carry their own reporting obligations, and an omission there can cost far more than the tax involved. Liquidity ### Stake sales, buy-backs, and the first outside investor A partial sale or a new investor forces decisions about valuation, the tax cost of each route to liquidity, and the governance rights the family is willing to give up. Those decisions are best made before a term sheet sets the timetable. ## How we help [Corporate Structuring & Tax · Holding structures, succession arrangements, and multi-year personal tax planning.](https://soniassociates.in/service-corporate-structuring) [Finance Function Transformation · Group finance operations and reporting across family entities.](https://soniassociates.in/service-finance-transformation) [Audit, Assurance & Transaction Support · Internal audit and related party governance for promoter-led groups.](https://soniassociates.in/service-audit) [Cross-Border & Multi-Jurisdiction Advisory · Foreign assets, relocation, and outbound investment by family members.](https://soniassociates.in/service-cross-border) ## Examples of our work [All client impact](https://soniassociates.in/case-studies) Private Wealth · Structuring & Tax ### [A multi-year tax plan for a promoter with income across securities, alternative funds, and foreign assets](https://soniassociates.in/case-hni-multi-year-tax-plan) ₹50mn Tax exemptions structured within a single financial year, about US$550,000 Family Enterprises · Structuring & Tax ### [Designing a clean-slate structure for a new agri-tourism group with four distinct business lines](https://soniassociates.in/case-agri-tourism-entity-structuring) 4 Business lines, each taxed differently ## Featured insights [All insights](https://soniassociates.in/insights) Perspective ### [The Income-tax Act, 2025: a new vocabulary, and the documents still written in the old one](https://soniassociates.in/insight-income-tax-act-2025) September 9, 2026 · 11 min read Article ### [The first foreign subsidiary: decisions that are expensive to reverse](https://soniassociates.in/insight-first-foreign-subsidiary) May 13, 2026 · 10 min read Article · The Audit-Ready Company ### [Selling a majority stake mid-year: consolidation through a loss of control](https://soniassociates.in/insight-loss-of-control-consolidation) August 12, 2026 · 12 min read ## Talk to us about family enterprises We work with a small number of clients in each sector, which keeps senior attention where it belongs. [Contact us](https://soniassociates.in/contact) [LinkedIn](https://www.linkedin.com/in/in-aditya/) --- Soni Aditya & Associates, Chartered Accountants. Office No 502, Unit 507, 5th Floor, 45 Baner Street, Baner, Pune, Maharashtra 411045, India. aditya@soniassociates.in · +91 93400 75288 · https://soniassociates.in/contact This website is published for general information, in keeping with the guidelines of the Institute of Chartered Accountants of India on members’ websites. It does not advertise or solicit work, and nothing on it is professional advice. Publications reflect the law and standards at the date they were written, so please take advice on your own facts before acting. Client engagements described here are anonymised. Site index for agents: https://soniassociates.in/llms.txt Canonical page: https://soniassociates.in/industry-family-enterprises