Alternative to property registeration

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2013 PURCHASED a property (registry value)= 4 crore
but my parents have unaccounted money(black money ) =4 crore
and accounted money(white money) = 50 lack

So what are alternative to get tht property in our name ?????

pls suggest some altenative

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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28 July 2013 Unaccounted money can be converted into accounted money by spending 30% tax on it.
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You may consider to avail loan and by showing higher income on subsequent years clear the loan.
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CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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29 July 2013 The query is raised as :

PURCHASED a property (registry value)= 4 crore
but my parents have
unaccounted money(black money ) =4 crore
and
accounted money(white money) = 50 lack

So what are alternative to get tht property in our name ?????

pls suggest some altenative
.
.
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I couldn't understand how people dare

to ask such queries openly.
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Having huge money in hands;

they try to find a consultant

to whom they don't wish to pay

(alike taxes).
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Better ways are there to pay
all the taxes in the current year itself.
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I am purposefully hiding the ADVICE the way your PARENTS have hidden their income so far.
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Your own identity is hidden;
otherwise I could give you a GOOD LESSON.
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Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2013 Really sorry to say this but Mr S. kumar this same rply i got from a Bcom graduate...........I think u r misunderstanding the difference between Tax planing and tax evasion

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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30 July 2013 The reply of B.Com. Graduate is lawful if he says like so what I have conveyed.
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You are clearly asking to make the money white from the black.
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This is a clear case of TAX EVASION.
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Tax planning is totally different from Tax Evasion.
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For your information; I hereby make it clear that TAX PLANNING is resorted FOR FUTURE ACTIONS TO DEVISE THE ACTIONS IN SUCH A MANNER THAT TAXES ARE POSTPONED IN A SYSTEMATIC MANNER OR REDUCED BY INVESTING IN THE SCHEMES AS PROVIDED IN THE LAW.
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(A due care is also taken looking to the government policies).
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Your case is : BLACK MONEY in your hands....
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(PS : Planning always means for FUTURE ACTIONS....nobody can do planning for past deeds).
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CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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30 July 2013 Further; you have not referred/emphasised on my last lines of my previous reply.
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I have not replied that TAXES can't be paid right now which will relieve you from future tension.
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Are you ready to pay consultancy charges for that?
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(Please read my previous reply again-if you couldn't pay attention thereon).

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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30 July 2013 Can you convey how much you are ready to pay as taxes (ignoring penalties and interest)?

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Hope you know the amount of Taxes, Interest and Penalties likely to be paid.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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30 July 2013 Humour:
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If a person do not pay tax at right time, he has to suffer penalties also.
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Message likes : 1 times

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CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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31 July 2013 Majority of people think TAX PLANNING means AVOIDING tax totally/pay very less.
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Not only they think; they FIRMLY believe also.
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Message likes : 1 times

Ganeshbabu K

Ganeshbabu K (Expert)
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09 August 2013 I Should accept it because i came through a case where client said you file a return by claiming full exemption in capital gain and i will take risk if i get any scrutiny..
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He is very confident that he can manage Department