The one way to convert blacl money into white money is NEW INCOME DECLARATION SCHEME 2016 Introduce after Demonetisation. Scheme Valid Upto 15 Dec. 2016
tax, surcharge, and penalty (totaling to approximately 50%), the declarant shall have to deposit 25% of undisclosed income in a Deposit Scheme to be notified by the RBI under the ‘Pradhan Mantri Garib Kalyan Deposit Scheme, 2016’. No interest will be paid to the owner for this. After four years the owner can reclaim his money (25%)
Recommaded Read: Black Money To White Money with New IDS
CAclubindia
