Saurabh Mukherjea Sees HNIs Struggling To Save Despite High Income

IT Department has resorted to AI and data analytics to check tax evasion by high net worth individuals

Income Tax: Lakhs of high net worth individuals (HNIs) in the country earn crores of rupees every year, but the tax rate paid by most of them is much lower than their income. Now the Income Tax Department has started taking the help of technology to identify such people. According to the information received, the department is doing a complete ‘360-degree profiling’ of such taxpayers whose spending habits do not match their declared income. A se…

Saurabh Mukherjea Sees HNIs Struggling To Save Despite High Income

Even India’s high net worth individuals are not saving enough or investing smartly, according to a new survey by Marcellus Investment Managers that has laid bare the financial gaps in affluent households. Founder and Chief Investment Officer Saurabh Mukherjea, along with co-founders Pramod Gubbi and Manish Hemnani, presented the findings and said that while incomes for many HNI families have surged, savings remain woefully inadequate to meet the…

HNIs in trouble: 1 in 2 Indian millionaires can’t meet their financial goals, finds report - BusinessToday

A new survey reveals that nearly half of Indian HNIs are saving less than 20% of their income—despite sky-high aspirations. From mounting loans to poor financial planning, India’s wealthy are more fragile than they seem.