1 CR. in cash how to save tax.

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166 Points Posted on 31 March 2024
suppose I have 1 CR. in cash how to convert in to save tax or any other things like gst or income tax but I have to deposit in bank.. please give me suggestions any thing If can let me know.
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On 31 March 2024 at 12:45 Report
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Quick Summary
This discussion explores how to legally deposit a large sum of cash, such as 1 Crore, into a bank account while minimising tax obligations. Suggestions include investing in options like NPS, PPF, insurance, and infrastructure bonds. The key principle highlighted is that money already taxed at source doesn't require further tax when deposited, unlike undeclared funds.

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Profession
28271 Points Posted on 31 March 2024
Invest in nps, ppf, insurance , infrastructure bonds
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On 31 March 2024 at 14:15
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166 Points Posted on 01 April 2024
Any other things I want to deposit in bank and make it white but I don't want to pay taxes on that
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On 01 April 2024 at 15:04
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Finance
4592 Points Posted on 02 April 2024

You don’t have to pay because your source of initial amount is taxed. That’s the principle. TDS on withdrawals is there. We can’t convert unknown money to white 

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On 02 April 2024 at 20:11

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