How to earn black money in mumbai

Converting black money to white is very common today. People use all illegal method to convert black money to white. 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 any of the below methods. Popular method people use to convert black money to white is by showing bogus loan entry. Modus operandi under this case will be people give black money to friend or relative and take a cheque from them. This is kind of bogus loan entry to convert black money to white.

In some cases people give repayment of this loan by giving back cheque. People doing this must understand that Income tax department is watching every transaction and tax payer have to prove genuineness of every transaction. Also Read — Tax Avoidance and Black Money are common in India. Another popular way used by people to convert black money to white is by formulating trust for social cause. They make executive bodies of own people in trust sometimes illiterate people like driver cook etc.

Recommendations of SIT on Black Money as Contained in the Third SIT Report

They donate black money to this trust as charity to convert black money. On paper it is charity but off the shelf it is conversion of black money to white. Another popular way of converting black money in to white is by showing income as agriculture income. In order to show income as agriculture income you must possess land and it must be used for agriculture purpose like plantation, garden nursery etc.

However there are various conditions you need to satisfy in order to claim agriculture income. Another popular way to convert black money to white is by showing income in cash. Income from tuition, professional fees or commission is shown as cash by many tax payers it is nothing but converting black money in white.

Go to known jeweler and give him all black money you want to convert. He will give you cheque for the same amount. He will also give you purchase bill showing you sold your personal Jewelry to him.

By this way your Black money is converted to white and you need not to pay capital gain tax even. Another method people use to convert black money to white is by making investment in cash.

People purchase insurance policy and pay premium in cash. This is most simple and popular way to convert black money in white. Another popular way to convert black money to white is by getting coincident leading indicators stock market from relative.

Modus operandi is simple you have black money and your relative has the same active trader pro review of white money. Another popular method for converting black money to white is to open bank account on each share market tips in hindi every individual family member.

Deposit black money on the name of every family member to convert it in white. Real estate is sector where majority of black money is parked. People use real estate deals to convert black money to white.

It is observed that people do fake real estate deal exchange money and cancel these deals due how to earn black money in mumbai non-payment of how to earn black money in mumbai. Best method for converting black money to white as per me is by declaring this money to IT authorities and paying tax top gainers in the stock market philippines this money to convert it in white.

This article is just for exposing loop holes of our system. So, that RBI and the government can take appropriate action by formulating bollinger bands simple rules to remove black money from India. I am against black money and black money generation ideas. If you have any information about people holding a black money and trying to launder it.

If I have missed any other methods which people use to convert their black money into white money I request you to share it in comment section. Hi, I am Raviraj. I am passionate about money matters and finance. If you like my efforts kindly subscribe to this blog and also let your friends know about this website raytheon employee stock options sharing. Enter your email address to subscribe to this blog and receive notifications of new posts by email.

The party who has black money has taken commission from the person whoo possess white. What is the reason behind it?

Why white possessor wants to turn it into black? Dear Renukar, You need to applicable tax on amount declared by you. Money which you deposit in account account you need to pay tax or declare as your income so that it will be treated as white money.

Hello sir the best way to invest your money is with the charitable trust anyways we have a charity and you can invest your black money to our trust where you can get white money for further details contact If you are interested to move your money to india. Please let us know. Your email address will not be published. Notify me of follow-up comments by email.

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Home Financial Planning About Free Download Old-Articles Forum Contact Us. Business Investment Personal Finance Incometax Insurance Stock Market Mutual Funds. Real Estate synonyms of Black Money Buying house in Gujarat is difficult because of black money Proof — Tax Evasion Tax Avoidance and black money are common in India How we can prevent generation of black money? Article by Raviraj Hi, I am Raviraj.

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