Tax planning

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2013 if i have white a/c of rs 350000 and i purchased a land of costing of rs 1750000 and i want make it all white money to govt...apart from gift provision any gateway to make this white ac of rs remaining 1400000

CA Prashant Gupta

CA Prashant Gupta (Expert)
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23 February 2013 send money to Panama
then get back as any income
in Panama they don't check money source. and tax is very low.
in India you will earn money, so nobody will ask, just pay tax and all money is white

But it is illegal, so don't use it.

best way
declare income to govt and pay tax accordingly

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2013 thanku sir for your kind suggestion.... sir what do u mean by panama?

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