How to convert black money into white

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This query is : Resolved

ankita gandhi (Querist)

03 January 2017 We have a client, whose annual turnover is around ₹25.00L. This is what usually shown in returns. A year back they had given money to A of ₹25.00L in cash. Now A is going to invest that money in some housing project as approved by Central Government and our client will be partner in that. So they have to show money in white around 25-50L. Plz tell me how can they show it ? I had these ideas : 1. To take a loan from some other person through cheque. What can be consequences of this ? Is it safe ? Plz guide me in this regard.

Amol S Joglekar

Amol S Joglekar (Expert)

03 January 2017 Dont indulge yourself into such activities. Stay away.

ankita gandhi

ankita gandhi (Querist)

03 January 2017 Ok. So u mena there is no option. As we are in this field we should advice clients obviously I know they had done mistake but there must be some way out

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Amol S Joglekar

Amol S Joglekar (Expert)

04 January 2017 IDS is the way out. Ask your client to go for income disclosure scheme.
Always remember, we are on the revenue side and NOT on client's side. Remove your misconcept of helping client. Dont be the party to client's WRONG doing. Be in the advisory role from Revenue side. All the best.

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