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Q.

What is best way to convert Black to White (money wise !) ?

Asked by Lucky, 10 Jun '09 09:53 am
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Answers (4)

1.

Pay the penalty tax and get it all in white

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Answered by Saj Sierra, 10 Jun '09 09:54 am

 
  
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2.

As there is no limit for the charity donation and no limit with tax benefit its better to think in this way
Charity with a purpose
Instead of donating (or dumping at Golak thinking that it will erase all our sins) to any religious organizations, they should be utilized with service orientation properly

Rural Education, Health and for aged should be given importance
Building or/& providing facilities to the schools / colleges in rural areas

Encouraging upcoming poor people for their higher studies and creating general awareness how their people are going to benefit with their service

Having govt. press & factories still those books/clothes are bought from private firms (hence they get good commission and machines & investment is a big loss), this could be avoided by providing them to the govt. schools ...more
Answered by mukund, 10 Jun '09 10:52 am

 
  
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3.

Well you have to understand that the money earned through the channels & practices which have no linking what so ever with the legalised market & taxation system prevailing in the state therefore it can be also termed as an act of treason against the state. The simplest thing is to declare the act, pay taxes accourdingly & get it set, but on the second thought if a person on good faith decides to go for it he has to risk his reputation & social standing which can be a tough call for him to take. Therefore consulting a proffessional is the best way to do it, it may take 2-3 fiscal years to get it done but believe me they are qualified enough to do it. Personaly i wish that the systems of state should be competent & equipped enough that there remains no scope for anyone to earn money in black.
Answered by arpan, 10 Jun '09 10:14 am

 
  
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4.

Very easy. Pay the taxes !
Answered by prabhat kumar kumar, 10 Jun '09 09:54 am

 
  
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