Saturday, January 09, 2021

Politicians - Converting Black Money to White Money

If you are paying tax and if you know any politician who wants to convert black money to white money for his/her political party, by helping them, you can reduce your tax burden.

You can take the cash from the politician (upto 10% of your gross salary), and transfer the equivalent money to that political party's account as a donation. With that donation, you can claim 100% tax deduction. That money is going to be white money for the political party. 

I used to wonder why people are donating to a few corrupted parties. Later I realized that it is very easy for the politicians to find people who are looking for tax exemption, and with their help they can get white money as a donation to their political party. 

No comments:

Post a Comment