The Quint: Five Ways Indians Will Convert their Black Money into White

Prime Minister Narendra Modi claims his demonetization policy is giving sleepless nights to the rich. But a look at the serpentine queues outside banks indicates that’s not the case.
We Indians are known for jugaad. And where there’s a will to convert black money into white without paying penalty, there’s always a way.

Video: The Quint

Music: Big Bang Fuzz

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[alfonsbhagat]

i am a banker and one of our customers said during demonetization that note badalne se insaan nahi badlte.

[mandarsonavane]

Obviously why would anyone give so many tax?go firstly reduce the GST

[Ncool]

The anchor forgot north east Indian tribals who live in their native areas (as per id proof), they also don't have to pay any income tax...banks in towns like Shillong, Dimapur, Aizawl, Agartala, Itanagar, Tura and Imphal saw a huge rise in the deposits of 💰

[nitinitsme]

Sharad pawar daughter declared income of 100 crore from agriculture... Y????

[nisargjain]

I'm surprised nobody here said about the meme "Zor Zor se bolkar sabko scheme bata do"

[RaviRajput-ffle]

Tell a way to convert? Thanks for the ideas

[manishmaske]

India 6th richest country in th world.
Are we all nationalist??
If yes then black money won't exist.

[kakabalaji]

Savings account it's 2.5 lak but current account can hold 7.5 lakh without investigation. Many bought building materials, sofa, TV, two wheeler etc and billed with previous dates. Small traders with no business accepted old notes since they can deposit 7.5 lakhs in current account.
House owner gave money to tenent to deposit money in their account. Easily converted everything.
Society bank can also accept black money. I know. A guy who converted 19lakh without commission 😂

[diveshsharma]

Don’t always take the naam of Hindu temple many more religion are doing same please don’t always make Insult of Hindu religion

[sagarpandurangi]

To all the people who followed the dumbwitted ideas presented in this excuse for a reportage, Rest in peace. The ones that are planning to, don't do it. It's not so simple.

You speak as though the process is simple as boil water, throw in the noodles and the tastemaker, 2 minutes on- Voila Maggi is ready. If it were this simple we wouldn't have so many cases at all. I'm a tax professional and the level of work Chartered Accountants are seeing a year on from Demonetization is unprecedented. The Government has collected 98k crores from demonetization. Since you are a journalist, it's not expected of you to know what you're talking so everything will be taken lying down, but, I must point out the sheer childishness in whoever wrote the script for the video.

Gujarati businessmen paying advance salaries will be questioned during the scrutiny assessment as to what Gods suddenly appeared before them which turned them so pious all of a sudden? If the assessee(that's what a taxpayer is called) doesn't have the answer, then, more inquiry is made as to where did he get all that cash from. And salaries attract TDS provisions, so if he made a TDS deduction, he will be questioned about the sudden increase in his s 192 deductions. If he doesn't make the TDS deductions, then the employees and the employer will be served notices as to why they should not be treated as an Assessee in default. Nobody can escape an assessment.

About the BS angle of donation to temples- there's something called the 85-15 rule which means that if 85% of the total donations received is expended, the remaining 15% will become exempt from tax. However, if the tax officer sees a spike in the donation and there is a consequent spike in the expense too, they will demand the list of people to whom the money was paid. If they are not able to present a list, then, they will add most of this bogus expenditure back as income and the exemption shall stand cancelled.

We don't even need politicians in India till we have foxy journalists and media houses such as Quint. You make people go what the fuck so effortlessly that you put Trump to shame.

[sameerhinduja]

This anchor is so cute. What is her name ?

[rahulshukla]

its india and changing money is not the wherewithal... it wont change one's individuality...rest u r intelligent.

[sufiyanmemon]

The best way Pakistanis and Indians convert their black money to white is that they invest in Dubai. You will find many rich millionaire south asians there most of them are Indians.

[waseemasfar]

Came for black money topic but lost in Anchor😍

[VinayakPande]

Bloody temples. You can always count on them to be involved in something shady.

[abhishekverma]

Just watched the video .. because of astonishing looks of anchor

[deepakgupta]

Donations can also be made to institutions of other faiths. Why defame Rama?

[ick-]

I am sure it went on in all religious places of worship, not just hindu temples

[rohitnilamwar]

Ye haramkhor type log hamesha Hinduism ko hurt q karte hai "Shriram" ki jagah "Allah" "Yeshukrist" etc.ke photo dikha deti to kya ho jata mai batata hu...

Iss ladki ko aur script likhane wale ko achhi tarah pata hai agar hum "Allah" aur "Yeshukrist" etc. ke photo dikha dete to in per bada issue hoke Case hoga aur rahi baat Hinduism ki to in logo ko Kuch bhi insulting dikhao wo kuch nahi karenge bas yahi ek karan hai...😠😬

[rvignesh]

And also investing in Fake media like and showing loss account.