conversion of black money into white

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Aniket Aggarwal

Aniket Aggarwal (Querist)
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23 April 2009 suggest how to convert black money into white

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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23 April 2009 Interesting question.
Declare it to Income Tax and Pay tax on the same which is about @40%.
Rest you can have with you.

Enjoy!!!

"Jo aaya vo paaya"

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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23 April 2009 You need to read various case law on money laundering, and grap the trick.
However if you want to go legally prakash is right

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
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23 April 2009 The question is interesting, and the CA professional in practise in some cases doing the same.You should go to a good practising CA, There are many tricks for the same.

CMA KNVV Sri Vidya - Sri Kanth

CMA KNVV Sri Vidya - Sri Kanth (Expert)
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23 April 2009 Interesting question

Agree with experts

taxindiaconnect

taxindiaconnect (Expert)
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01 May 2009 I think in Praksah's solution the penalties would also be applicable at least equal to amount of tax sought to be evaded. The transactions need to be planned in a better way to avoid the levy of penalty.

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