conversion of black money into white

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Aniket Aggarwal

Aniket Aggarwal (Querist)

23 April 2009 suggest how to convert black money into white

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)

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)

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)

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)

23 April 2009 Interesting question

Agree with experts

taxindiaconnect

taxindiaconnect (Expert)

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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