How to Change Black Money to White money ?

Black money is the money which comes from both legal and illegal means here majority with the black money is the income received from not accounted cash and which are not revealed to the government for tax purposes.

How to change black money to White money

How this money can be converted

The very difficult part is converting black money into white money without any form of taxes. The money which is earned through some illicit means or through corruption, which is converted with the help of business man by booking fictitious sales in the books of the company.

This money can be converted in the forms of some ways such as

Increase the sale price of an asset

This method is nothing but increasing the sale price of a property if that property actual price is 42 lacs but the officer wanted them to pay as Rs 60 lacs in cheque but in return he wanted the difference amount of Rs 18 lacs as a registration charges in cash to the buyer. This is the one form where the 18 lacs is converted as a black money to White money without paying any taxes.

Hawala route

This is also one of the method where for example a politician or a government officer he deposits a cash of amount 25 lacs in Bangalore, since this amount he can’t deposit in the same bank because it is a black money, so he identifies hawala agent and they operates a cash in Bangalore and converts this 25 lakh rupees in dollar and the government officer or a politician receive the same 25 lacs as a dollar as a white money without paying any tax.

Depositing in banks less than Rs 50,000

Here this method is taken by small time operators here they will open multiple accounts and deposit at cash up to 50000 at a time. It is important to know that if the amount deposited over 50000 you have to submit PAN details to the banker if it is below 50000 it is not needed so that this money will be converted to White money without any taxes.

Agricultural income

Agricultural income is completely exceptional from income tax here the money earned from sale of paddy or Wheat are exceptional from tax. So this is also one of the ways where black money can be converted into white money so the people who are earning black money will obtain a receipt from traders in the form of agricultural commodities as if they have been sold the products. So for record purpose this will be taken.

Gifts from relatives and friends on occasions

This is also one of the best methods where it is exceptional from income tax and it is also one of the easiest method to convert black to White.

Gold products

This is one of the professional way where for some amount of heavy budget are paid to the jewellery shop owner and they will give a receipt for that amount as if you have purchased gold for this money so this also can be converted into the form of black to White without paying any tax.

Disclaimer :

We dont recommend readers to follow any of these methods for black money conversion. This article is just for exposing loop holes of our system. Bakenstein is against black money and black money generation ideas.

If you have any information about people holding a black money and trying to launder it. Please send email on [email protected] This email id will be monitored by special cell and immediate action will be taken on information sent .

Let’s fight against black money and corruption. Let’s help government to fight against black money and tax evaders.

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