The black money hoarders seem to have found ways to settle their unaccounted income the latest innovative way is to buy old cars even at high prices with the invalidated cash in rs 500. I went through all the answers given here.
How to buy a car from black money just for knowledge not going for something illegal.
How to buy car with black money. The income tax regime in the country has improved quite a lot in the pas. Well there s more to it than meets the eye. Since 1970 black enterprise has provided essential business information and advice.
Avenues for spending black money in black investing in property the middle class black money earners spend invest them in black. I am asking as i have seen people whose income they show to government is is 20 to 30 thousand to save taxes and buy cars of 30 to 40 lacs. When it comes to purchases that require a substantial sum of money up front for instance a downpayment for a car or household appliance lower income black families were much less likely to make.
We explain how this surgical strike on black money will impact the way you buy and sell cars. I don t think this is easy as it seems. For example mr ghk sells a house for rs 90 lakhs of which he takes rs 30 lakhs in cash black and reinvests buys another flat plot by giving rs 30 lakhs apart from white money.
Black money and cars. About black enterprise is the premier business investing and wealth building resource for african americans. This is a major step in moving to a cashless economy where all transactions are electronic or at least can be traced.
I m not sure if you should resort to it unless someone guides in you every action you take. Trade driven black market conditions. India has more car buyers than tax payers has just 24 4 lakh tax payers who declared an annual income of over rs 10 lakh yet 25 lakh new cars including 35 000 luxury cars.
Most of the people with black money in this country are driving these luxury german cars so if you have black money talk to your ca convert some into white and buy a band new merc or bmw and enjoy driving. Sometimes participants in black markets don t want to act illegally but because they lack the ability to work legally and need to make money they don t.