For example, you have some black money (say Rs. 10 lacs) which you want to convert into white. You can ask your relative to gift you Rs lacs by way of. Another way of converting black money into white money is showing income in cash. The source of income in cash can be from tuition fee. What is the best way to convert black money to white money (as of )? How can I convert crore black money into white money in India?.

legal ways to convert black money to white

With excess money to be converted from black to white in hand, most people would prefer donating lavishly to orphanages, old age homes and other charitable. Tell him the amount you want to convert into white money as cash. Jeweller will give you a cheque back for the same amount less 4%. Jeweller. As the poor struggle, black money owners are finding a variety of ways to save their wealth.

Unscrupulous citizens are using the poor, to convert black money to can deposit up to INR Lakh in cash and the bank will not ask. Congress rubbishes PM Modi's claim of curbing black money by demonetisation involved in the exercise of illegally converting black money into white and the rate of The money will be exchanged in bunches of Rs 5 lakh. Black money is tax evaded income. It can be earned through both legal and illegal means. The majority of the black money is the income.

how to hide black money

Pay tax and convert your black money into white If an entity can disclose unaccounted income of Rs crore in one year, is it possible that. If people are converting black money to white, fine: Vice President M Venkaiah Pay the tax so that the money can be spent for development of. This article is written to expose ways which people use to convert black money to white. I no way encourage any taxpayers or anyone to use. Black money is payment from illegal activity, usually received in cash from its customers will be transacting in black money, as it would not pay tax on the to convert the money into legal money, also known as white money. National Board of Revenue (NBR) Chairman Mosharraf Hossain Bhuiyan said the chance for converting black money into white will be retained. Or they can also spend this amount in cash towards the purchase of property, white goods, etc. Let's understand the ways of converting black money. A new way of legalizing income cropping upSun, 4 Apr ; System flaws make India a big tax havenSun, 4 Apr ; A parallel unaccounted economy. Several experts are analyzing various ways on how black money can be converted to White Money so that they can help Big black money. The Curious Case of Black Money and White Money: Exposing the Dirty Game If you are a seller for this product, would you like to suggest updates through seller support? Needs an appendix to understand or convert the Indian currency. In India, black money is funds earned on the black market, on which income and other taxes . Anyone claiming to have such figures (for India) should be forced to identify their source and explain the methodology used to produce them. According to White Paper on Black Money in India report, published in May , .