Stage 1(How to convert 1Crore Black Money to White):
How to convert 1Crore Black Money to White?
Suppose you have 1-2 lakh of black money which you need to convert into white money.
- Go to any private bank near you.
- Open an account for 10,000 rupees in cash. Give self declaration
- After that start depositing your money in that account in small amounts
- Suppose say -3k, 8k . But if you deposit more than 49,999 rupees at a time it’ll send an email to IT department.
- Don’t deposit more than 49,999 if you do then you will get email from IT Department
- Spend your money through check, debit card and net banking.
- By doing like this black money is converted into white money when you’re paying through check and debit card or net banking.
Stage 2 (How to convert 1Crore Black Money to White):
What if you have huge amount like some 20 lakhs rupees of black money . Now the above process won’t work for this amount. If you go to bank and deposit small amount money is time taking process and that to you have to pay the tax if we deposit more than 2.5 lakhs of money. So have to plan something new how about investing in gold?
To invest in gold you have to go to the small gold shops but not to the big shops like Reliance or Tanishq jewelers what happened if go to those shops they ask you to pay the bill through bank account and practically it’s not possible. so go to small jewelers buy gold generate invoice.
- Now you have gold and invoice both in your hand
- Sell your gold to someone the money which you get is white because you have invoice
- The main thing you have to remember ,you have sell your gold for the rate is in invoice but never sell for more money.(never increase the price, cost should be same as in the invoice).
- In this time that local shop guy goes to bank and deposit his money. If they ask something he will show invoice. banks never ask that how customer earned that money.
Stage 3 (How to convert 1Crore Black Money to White):
It’s ok to manage up to lakhs but Suppose you have black money worth 1crore. You can’t buy gold chain so what will you do to convert into white money . it’s risky to keep that much gold in your home. So we have think smart this time to convert black money. This time you have to buy some special Art works or Antique or Painting.
- Painter arrange exhibition of his paintings
- Buy the painting which worth 1 core.
- Then you will having bill and painting.
- Resell to someone, using eAuction. It’s better to sell less that painting below 1 crore to avoid tax
- At the same time painter deposit his money in bank and pay 30% tax to bank.
Stage 4 (How to convert 1Crore Black Money to White):
Now suppose you have 10,000 crore as black money.
yes !Swiss bank ,deposit your money in swiss bank through Havala network. Another option is invest your money into indian stock market through participatory you get assets in shares sell them you will get white money Or best thing is set up a company in Mauritius. That company invest money in real state and other market fields now you have asset sell it you get white money.