how to covert 300cr black money ino white money

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Querist : Anonymous

Querist : Anonymous (Querist)

31 January 2011 tell me the simplest way to convert .....

B. Gopalkrishna Baliga

B. Gopalkrishna Baliga (Expert)
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31 January 2011 simplest way out there is surrender it to the Indian Government

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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31 January 2011 Step 1. The man who needs the cash will buy 10 gold bars of Rs 5 lakh each. A perfectly official transaction. Here, he will pay in cheque to the jeweller and collect the bullion.

Step 2. He then ‘gifts’ the gold to the other man, who gives him the cash equivalent. Thus, the person who was looking for cash gets it.

Step 3. The person who receives the gold sells it in the market to recover his money. Again, an official transaction and the cheque he receives from the jeweller is deposited in his bank.

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CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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31 January 2011 Well said....Mr. Gopal.

At least, one should maintain the dignity of this forum, while asking any query.

Querist : Anonymous

Querist : Anonymous (Querist)

31 January 2011 hey CMA . subhash wat wrng in dis n m CA student n ya thnx to RAMESH >>

Guest

Guest (Expert)

31 January 2011 Meet personally Mr. Rameshkumar for solution

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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31 January 2011 Agree with CMA Subhash, this is not a valid question. please avoid to use such a nice platform to ask a irrelevant query.

B. Gopalkrishna Baliga

B. Gopalkrishna Baliga (Expert)
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01 February 2011 We are Chartered Accountants. Our responsibilities are towards industry as well as towards Nation. Though we all know how to convert black money into white, it's not a legal transaction on which we should advice. It's like a smuggler is doing smuggling but paying tax so the ill business of smuggling becomes legal....of course it won't!!! Illegal things are always illegal.