Today, whole India's banks have opened. There is big lines of people who want to deposit Rs. 500 and Rs. 1000 notes because it will not be used for transactions. Its main aim is to find the black money and tax evasion in India. But, still, there are lots of not-for-profit organisations and social activities people who have these Rs. 500 and Rs. 1000 Notes for social welfare activities. So, all these people want to save tax on the ban of of Rs. 500 and Rs. 1000 Notes.
After depositing more money than Rs. 2,00,000. Income tax department's letter will reach at your home because now all money will go to bank otherwise it will be scrap and will sell Rs. 5 or Rs. 10 kgs after 50 days. So, it is the time to save tax on Ban of Rs. 500 and Rs. 1000 Notes and it can only possible if you will follow my ideas.
1. Take the Help of Indian Labourers
More than 50% population is living below the poverty line and you have Rs. 20 Crores in 500 Rs. and 1000 Rs. notes. You did not maintain its accounting record. If you will deposit same amount in bank. You have to pay tax + 200% penalty on this amount. Now, just follow following idea.
a) Just go to labour chowk.
b) just go to slum area
c) just go to poor community.
d) Just go to poor students
At this time, all are your best friend. Fix 30% commission. I know lots of labourer in India who does not get 10 days work in any month and they are surviving just drinking water. Now water is also costly and not free. So, give your Rs. 1000 note and he or she will deposit your money in his or her account and he or she will get Rs. 300 commission and you will get new Rs. 500 note and Rs. 100 and Rs. 100 two legal note. If you have Rs. 500 old note, you can give the commission of Rs. 150 and you will get Rs. 350 legal money. Govt. of India's aim is also to remove poverty and increase per capita income. You are supporting Indian Govt. by doing this. You need only 10000 peoples who will help you to save big amount of tax.
2. Deposit Cash which is in Your Previous Year Financial Statement ( Use for 2015 to 2016)
If you have filled income tax return of 2015 and 2016, you can deposit cash as your current asset. So, no problem. But if you did not file the income tax return, you can optimize your financial statement for deposit it in bank and you will have to pay normal tax and your all unaccounted money can count in this. But you have to be sure about the source of this income. Because income tax department will send notice for demanding the evidence of unaccounted income under section 143 (1) of Income Tax Law.
3. Take the Help of People Who Has Cash in Rs. 10, Rs. 20, Rs. 50 and Rs. 100 Notes and Has Filed Income Tax Return
All these people are in vegetable selling industry and transport industry. Just give them commission and get discounted legal money.
4. Donate to Charitable Organisations
There are lots of charitable organisation in India and Outside India. Just deposit your Rs. 20 crores (in Rs. 500 and Rs. 1000 notes). There is small locker in every charitable organisation whether it is Gaushala or pingalwara or orphan home or animal welfare organisation or Army Relief Fund or Free Education Promoting Organisations. You have to deposit because if you will deposit more than Rs. 2,00,000, and deposit Rs. 2,00,000 or more in banned notes, you will get notice from Income tax department. After this, they will they will start to search your properties in kind whether it is stock or current asset or fixed asset. So, there is chance of capturing of next Rs. 20 crores. You can donate same amount to Accounting Education at here.
If you are not aware the ban of Rs. 500 and Rs. 1000 Notes (Rupee Demonetisation) watch following video.