Legally Reducing Income Tax

Dear All, My Wife and I have worked as salaried employees for the last 18 years and after paying around 1.5 Crore+ in taxes have managed to create a corpus of around 4 Crore. In 2024, we plan to leave our jobs and start a small company hoping to add value to education sector in our country. My Goal is to distribute our 4 Crore corpus in 3 Blocks in a way where we reduce our Taxable income legally: My Hypothesis (Need Help) Block 1: Husband’s Name - Invest 1 Crore and @10% on income of 10Lakh, Pay required taxes on this block. Block 2: Wife’s Name - Invest 1 Crore and @10% on income of 10Lakh, Pay required taxes on this block. Block 3: Company’s Name – Incorporate a LLP, where both Wife and I are partners and infuse together 2 Crore in the company. Out of the 2 Crore – Some money will be used for company set up and majority then can be invested @10% - where in this income, we will have the option to deduct business related expenses (Travel, Rent, Branding, Tech Related Expenses) – As per our projections, our business will only generate some revenue from 2nd year and it may not be significant. Ultimately, we both have worked hard for 18 years to generate this corpus and now want to protect our future and add some value to the society in our capacity. Kindly suggest if my Hypothesis is valid or there are major red flags. Thanks