How to Convert Black Money to White in India

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.

25 COMMENTS

    • Yes, It may be justiied, but Deduction u/s 80DD is Overall Maximum deduction one can avail. Means irrespective of the fact that number of disable member/s 1 or more but the maximum deduction avail by an assessee u/s 80DD restricted to the prescribed limit i.e ₹75000 or ₹125000 as the case may be.

  1. The other method is,as per sec 80DD, have 10(say)disabled people dependent on you (as assessee )provide them everything what they need.
    A flat deduction of 75,000 is allowed as a deduction
    So now you have saved around 7,50,000
    Spend what is required to them from this 7,50,000
    If expenditure is some 5,00,000 then rest of the money is saving
    Now increase the people to 100(say)
    Your savings will also increases along with service
    You are doing SAVINGS and SERVICE

    • Under Sec 80DD
      Quantum of deduction: Rs.75,000 from his gross total income, irrespective of
      actual expenditure incurred/amount deposited. Rs.1,25,000, where such dependent
      is a person with severe disability.

      Dependent”. “Dependent” means—-
      (a) In the case of an individual, the spouse, children, parents, brothers and
      sisters of the individual or any of them.
      (b) In the case of a Hindu undivided family, a member of the Hindu
      undivided family,

      So, how u justify 10 or 100 members disable..?

      • Disable person means-

        In a HUF, dependent means a member of a family.

        A person who is dependent upon such individual or a HUF for maintenance or support.

        In the case of Individual, spouse, children, parents, brothers, sisters are dependent.

        Person with disability means a person having disability of not less than 40%.

        Who has not claimed any deduction under section 80U in relating previous year.

        Disability shall have meaning assigned to it in sec. 2(i) of the person with disabilities ACT, 1995.

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