In four easy steps, We will show how you can convert huge amounts of Black Money into White. Using this simple procedure and loopholes in Indian Legal system, you can convert any amount of Black Money to White.
How to Convert Black Money
Step 1: Create a Political Party and get it Registered under People’s Act, 1951. It takes hardly one week time. Any one can Register a Party with Just Rs.10,000 Fee.
Step 2: Donate all your Black Money to your party in parts, with each part not more than Rs.20,000. Theses are ananymous donations and you can make them unlimited times. As per the Act, you are not legally bound to disclose the names of such anonymous donations.
Step 3: Go to bank and deposit all that money into your Political Party’s Bank Account (All this money is exempt from Income Tax).
Step 4: Withdraw the money as and when you need. It is all White now. (Political parties does not fall under RTI Act, so no one can ask how the money was spent).
(This article is meant to show the demerits in Indian Legal System and we do not have any intention to encourage such immoral acts.)
What is Black Money
In India, black money refers to funds earned on the black market, on which income and other taxes have not been paid or which is the proceeds of criminal activity such as bribery, kick backs and corruption.
The total amount of black money deposited in foreign banks by Indians is unknown. Some reports claim a total of US$1.06 trillion is held illegally in Switzerland.
In February 2012, the director of India’s Central Bureau of Investigation said that Indians have US$500 billion of illegal funds in foreign tax havens, more than any other country.