How To Convert Black Money Into White Money

How To Convert Black Money Into White Money, dangers in converting black money into white, Questions Related To Black Money.
How To Convert Black Money Into White Money, dangers in converting black money into white, Questions Related To Black Money.
Facts Related To Black Money
In these days people are searching ways to convert black money into white or we can say that people want to convert there 500 and 1000 notes with 100 rupees or other notes without going to bank or any other financial institution.

There are many questions which people want to know like as –
How can I convert my black money to white. 
How can I save myself from income tax department?
What are the secure methods to convert black money to white? 
What is the easiest way to convert black money to white? 
What are the institutions which are able to convert black money into white?

Lets Understand what BLACK MONEY stands for?
Actually there is a limit for every Indian related to tax-free income and any amount which is more than that limit comes under taxable income. Every one has to pay tax on that amount. So if any one is not paying tax on that income then that money comes under BLACK MONEY. 
There is provision of penalty on that money, income-tax department has power to enquire about income of anyone and take penalty if found anyone wrong.
Not giving tax by hiding income is a crime and it must be avoided. Those people who have too much excess income are disturbed in these days because of ban on 500 and 1000 rupees notes. These people are wandering here and there to convert there black money into white in anyway.

Let’s Know some Ways Which Are Being used To Convert Black Money Into White:
  1. People are buying gold and silver by giving more price to save there money. 
  2. Some people are taking fake bills from jewelers by giving money to them. 
  3. Some people are showing there income as a gift from someone who has good incometax return.
  4. Some people show income from house work which are free from tax. 
  5. Some people are taking receipt from NGO’s, they give some amount to NGO’s and take fake receipt from them. 
  6. Some people are doing advance booking in tours and travels , after sometime they cancel it and take money back. 
  7. Some people are buying more than needed products for home. 
  8. Some are paying advance fees of whole year in school and colleges so as to spend there black money as much as possible.
  9. Some are using hospital bills.
  10. In these days those people are also active who has more return, they are taking some percentage and converting the black money of others. 
  11. Some are giving advance payment of whole year for there medicines to sellers. 
  12. So every one is trying there best to save there black money anyhow. Everyone is thinking  on new ideas to convert there black money to white. 
  13. Those who are not able to do so are throwing there 500 and 1000 notes.

Now Let’s See Some Dangers On Converting Black Money To White:
Remember government has took the decision after considering every situations so there is an eye on every big dealing in market. 
No way is safe , neither jeweler, medicine seller, any institution nor an NGOs’.
Any unwanted transaction will be notified and enquiry may be done in future. 
More food things also become useless because it is difficult to save them in long run. There is expiry of every product. 
Monetary gift more than limit is also put anyone in problem. 
If anyone is putting gold and silver in locker then don’t be free, government can check lockers any time. 
So in-spite of searching for unwanted ways to convert black money into white , it is better to consult tax consultant at this time and put proper return and also give penalty and live peaceful life. 
Don’t follow any rumour, don’t panic, maintain peace.
Take part in growth of nation.

"www.indianbazars.com"  is wishing good luck to every one for having prosperous and healthy life.

Read More Related Articles :
What to do with 500 and 1000 old notes?
क्या आप काला धन सफ़ेद कर रहे हैं ?

How To Convert Black Money Into White Money, dangers in converting black money into white, Questions Related To Black Money.

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