Black Money Conversion Tactics for ₹2,000 Note Being Used and also How Govt. Could Stop It!
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- Опубликовано: 11 июн 2023
- In this video, we discuss the ways being used by people to convert their black money of ₹2,000 denomination into black money of other denominations and also how the government could've stopped it had their goal been unearthing black money through this withdrawal of ₹2,000 note.
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The main takeaway in this video is that while converting the ₹2,000 denomination black money seems too easy to be true considering the tactics shown in this video, the reason why it is this simple is because the government did not really intend on catching black money by the withdrawal of ₹2,000 note. The intention could've been keeping a check on counterfeiting or something else.
Even for those people who have converted their black money using tactics mentioned in the video or any other tactic, it still is black money. Govt. has plethora of ways to unearth black money if and when it intends to do so. Hence, as I say, try and be as clean as possible and pay up your taxes. If you know the art of saving taxes legally, you will never have to resort to tax evasion.
Happy learning ❤
I concur with you on this. The last time Demonetization was done, a crackdown on the counterfeit to the extent of 1 followed by 23 zeroes was nullified (Source one of the leading strategist)
Sir can you upload a video on how people convert black money into white money? This video was very very very informative.❤
Fir government ₹500 ka band kar daygi.
₹10000 say jayada, no cash payment, only digital payment (UPI)
SBI Bank 🏧🏦 account compulsary for everyone by system.
It's my wish
Thank you so much sir!
Well, people should do tax evasion in my opinion. Because they end up paying 50-60 percent tax if they pay honestly. That means they are earning for the govt only. The govt is a fool with a foolish FM, who can't think of the people as customers but slaves to keep paying taxes for those kissans who are now and then doing dharna pradarshan sitting in their fortuners.
this channel is a goldmine not just for CA but for all individuals.
Hats of to CA Sahil sir, he didn't charge any amount for this consultancy and for this advice :)❤
Don't worry, RUclips will pay him well 😅
Some are still under the illusion that government is serious about black money. 😅
Then what according to you might be the reason?
@@MinisterZang no government can control black money
.
It is just they can stop fake money
@@MinisterZang in my limited knowledge but in my humber opinion the government just wanted to mass money launder or mass transact money either into their own pockets or into their own projects included but not limited to the Statue of Unity, multiple railroads, trains etc. Obviously there are other means of payment but imagine giving someone crores of amount using denominations of 500, that would be really time consuming
@@monishk6561 looks like the reason is actually valid as well as concerning....
I can agree with you...
@@MinisterZang thanks. Also get off the back of Greta Thunberg she has done nothing to you. You enjoy your bugatti :P
I'm doing CA Articleship, and my principal already know about these things , but we took 10-15 mins discussing on it. Thank you sahil sir for elaborating it in more clear way.
Sir I’m working in a bank I got instructions to collect exchange 2k notes under proper CCTV surveillance only.. and we also have to enter every 20k transaction in special screens given in our portal it’s now easy to enter 20k transactions for exchange of 2cr daily’s like you said…
Not gonna lie, tax evasion and money laundering sound really fun!!💵💵
This feels like an Action-Adventure game but in real life
True
Adrenaline rush
gov needs to patch those bugs and glitches fr fr
@@priyankaryadav6014 any idea when the new update is dropping? the update might send some players looking for alternatives to the game tho!!
Feels amazing until we're caught for assessment. Well AO's are bribed too
@@prajaktkhobragade1004 we use the cheat code "leavemealone"
120 days is not equal to 4 months but is around 85 days. Roughly 20% is cut to accommodate weekends and holidays
Not necessarily 9-5 banks,
You can do with ATMs for deposits...
Which is 24x7
@@randomhuman8802good
Govt Says the intent behind this move is to just change the notes in circulation... However it clearly seems they have missed the opportunity to pelt two birds with one stone... It is impossible to curb BM as long as cash exists but still could've seen a good reduction had they imposed a few restrictions on exchange
Oh. Then you must also be knowing why Govt intend to change the notes in circulation. Or atleast you must be knowing the benefits of this entire process. Can you please enlighten us?
Feeling somewhat sad after knowing all these tactics.
As a tax payer we earn white money and pay direct tax. While many such person owning black money worth of crores can easily evade government and tax authorities as shown in video.
This black money holders inflate the real estate market and we have to compete and buy flats with our hard earned white money. 1cr flat is nothing via black money but it takes 10 years loan to pay for 1cr flat for white money earner hard working man.
The system is flawed.
Sir what is the format of Invoice to be made from additional place of business within same state
But in Mumbai, every bank has made aadhar card mandatory even for the exchange of one note
very interesting and educating video sir. please make more of such video to grow comman man's financial knowledge.
Sir flexible compensation taxable under income tax or not.. Can I claim exemption as allowance..
love from ahmedabad sir Chiku is best character for every story . SIR YOU ARE REAL G.O.A.T FOR CA
Recently 15000 crore ITC fraud was reported in news, could you please cover this topic.
Income tax department didn't catch this fraud, it was detected by police when person complaint about his aadhar being misused.
One other interesting way i observed is that my mother orders a lot from myntra and also returns a lot, so the amount refunded by myntra is credited in my bank account.
So if you order even two watches(say armani) each for ₹10000, totals to ₹20000. And you get a month's time to return it. So if the above process repeated from multiple accounts and multiple times.
..
Hello sir can you do a detailed video on CFA vs CA ?? it would mean alot your videos have been a real motivation to me sometimes. looking forward to your reply.
just an random thought what if 500 note also get suspended just after 30 sept
Thankyou for telling this, ab mein kal se hi shuru karata hu✌️
Very true. Last time also lots of money was converted with fake ID,s. Some people contacted government schools and collected adhaar card ID of thousands of students by paying money to clerks. Then these were used in banks on daily basis, manager got his commist. Some bank managers made so much commission that they were literally not afraid of their job as they have already collected the salary of their remaining service.
Can someone tell me that how many rules or law or section are there of taxes
Which Microphone do you use Sir. Your Audio quality is very good. And Video contents are extremely informative and useful. Thanks
What could be the reason for 2000 note ban?
Ohh i am so thankful that on my req you made a whole on this topic 😂
Kitne hai tere pass
@@thedictator1454dhas croro
@@caparthpatil1905 Kon Banega crorepati 🙂
Tere nhi meneh bola isliye banaye h sir neh
@@dev42312are bhai mene bola tha
Muze heart bhi mila he sir ka
THANK U SO MUCH SIR. AS ALWAYS A VERY INFOTAINMENT VIDEO😊
😘😘🍑
Can we deposit more than rs 20000 in a day in 2000 note denomination agar saath mei pan card bhi de to ?
Learn a lot from you. I am a software Engineer. Learning options trading. But I watched your videos for the interest of financial education.
Amazing video sir ❤
I realized when i started filing ITR myself that govt is so greedy and nobody can do anything to stop them. I had incurred losses in F&O but had around 1L gain in ltcg. Now even though that ltcg gain should be tax free, i will not get that benefit because it will be forcefully set off against my f&o losses, and i will also have 1L lesser loss to carry forward in next year. And if that was not enough, now since I have losses, I will also have to hire CA to do audit because there is a rule that you should have more than 8% profit of your turnover or else audit is necessary. So i have to pay 5-10k more to CA to do nothing because all my books of accounts are already properly maintained by my broker.
One best n simple solution for us is to convert our cash in AED forex currency exchange then fly to Dubai and deposit all your converted cash in crypto deposit atm machines as there's legal in dubai all over... As simple as that
In the last trick as you have said that agent opens multiple bank accounts of unkown individuals then deposit amount into there accounts. But a time of withdrawal of such big amount like 50lakhs the person withdrawing it can be traced. Which becomes a threat for the agent withdrawing it and from this chiku can also be tracked down. Sahil sir your comment on this !
9:46 Per day nahi sir, In circular its per time (which would be more beneficial for the example you stated )
Please make a video on huf and taxation for freelancers/ contract workers
video a hi gayi akhir 💪
Sirr ek video ancestrol property sell karte time kitna tax lagega iss par banaiye plz.
MIND BLOWN
this move was to circulate money in market so the gdp data will come out. as spending will increase.
ED, ITD these department needs you sir! 😄😄
Thank You sir!
One doubt, As you mentioned at 21:57 how can the guy 'A' will deposit 5lakh,1cr,5cr in multiple accounts via 2k notes because deposit is not allowed only conversion is allowed i.e 20k per day.
Your videos are very informative
Sir, I value your opinion that Govt is not trying to unearth black money, coz multiple loopholes are available, but in my opinion, Govt is trying to reveal black money, its just that Govt has not thought this through, they are not as intelligent as they seem, they should hire people like you, who will guide the Govt. to the best of their abilities. I am a CA Student, currently pursuing my articleship, and whenever clients ask me about it, I do my best to convince them to come as clean as possible.
If you think government don't know this than you are in illusion, they didn't do this because their party gets fund from people like theses.
sir bank me auditor nam ki v ek chidiya hoti hai.
sir, CCTV camera footage se pata chalega na kitna log aaye the? am i missing something?
Who will check,and how much time they have to check ? Think practically
It cannot be 120 days as Saturday Sunday and bank holidays not deducted
Thank you sir❤
Sir I am CA foundation Aspirant bhot accha laga nai chiz Jankar .
how to save gst on maintenence charges of flat? Pls make a video
खर्च में सब दिखाया नहीं जाता है
बिजली ,धर खर्च तो दिखाना पड़ता है तो वो कैसे भी करो
Sir aap live class bhi krware h for inter students?
sir jo last me aapne btaya ki " pakadne ke aur bhi tarike hain " uspr bhi 1 video bana dijiye pls
Every black money wala after this video be like :- challenge accepted : *round-tripping* 😂
Sir there is a for Chiku that he will not get back his money from 'A'. So how he faith on another person.
Sir election a raha hai to black ko white karenge hi naaa
Tading taxtion kaise kare
This loophole is for ministers as most of the time the middle and lower level families suffer eveytime. Standing in bank lines so, that they can convert their hard earned money. Steps must be executed with a proper authority and responsibility this hit and trail method by government do not work. What government is trying to show us that how much concerned they are for this nation? This black money must be evaded and use for the welfare of society?
*Bank ka 2cr 1jn ko dia gaya hai ya 1000 log ko yeh to cctv footage sehi pakad mein aa jayega. Agar baad mein uss admi pe koi raid ho aur woh confess kar de*
22:00 194N implication?
hnji ❣❣
Amazing video
legends use this knowledge to get more money from tax evasion loopholes
Sir itna pta bhi nhi tha ki itne big level pr conversion kaise hote hai 😳
thanks video banane ab bus black me paisa kamaneka banado 100-200 crore wala video
Great vdo
Big fan sir.
I'd isiliye nai mang rhe sir kyu ki election is coming soon 😊
Demonetization bhi toh smart tactics thi. Fir fail kese ho gaya? Bhai, log kalaakaar hn, aapko hawaa bhi nhi lgegi aur sb wapas aa jaega..
Thank you sir
Pls make a video on how i as a tech startup can save taxes legally, like setting up in bahamas etc
Sir apki voice bahut pyari hai...Apki voice ka fan hu main
Meri bhi aise hi hai 🍌
Hello sir, I m doing post graduation. I receive stipend. But my hospital is showing it as salary. How can I show my income as stipend and prevent tax on it?
You are getting stipend which is under taxable slab😮
Aisa kya kam kr rahe ho bhai.. humko to chillar milti thi
@@Mr1987atul doctor, doing superspeciality. And stipend is non taxable
@@kushalpatel8658 there is no way written in law that stipend is not taxble
Sir please make more videos on gst evasion
You are the best
Meanwhile me : pocket me 250 rupay pdee hai
Video 250 cr convert krane ki dekh rha hui 😂😂
Hello sir, please make this type of video on " Tactics used during demonetisation to convert currency".
i am not CA student but as i am commence graduate i really loves your videos. Thankyou ❤
Account open karne wale bank ke employees, jinhone due diligence miss kari. unka kya fayda.
Sir Apka Video Toh Boht Hi Enlightening Hai But Sabse Bara Sawal Yeh Hai Ki Itna Paisa Lau Kaha Se????😂
Who knows the person/group of people who takes the decision on making 2000 notes as not a legal tender has thousands of crores of Black money? Isn't it possible. All politicians and Gov employees in high level Jobs has Black money. Why will they pass restrictions on exchange of 2000 notes? Whole system is corrupted and everyone want to exchange their black money with 500 notes.
What about bank branch manager
Sir which are the ways to identify those black money which are converted from ₹2000 denomination to ₹500 denomination
Sir Can you Please make a video for there if is possible to make
Awesome
One thing I need to clearify here that withdraw a cash in huge amount then banks are deduct tds . So that is not easy which is he said in this video
No TDS u/s 194N for withdrawal upto 20 Lacs.
At 10:30 banks are taking ID
my branch of central bank of india has made a form which contain copy of Aadhar mandatory for conversion
It should be done like that only
Take care of your health sir
Sir please add english subtitles,i cant understand hindi.But i would like to learn from you.Thank you sir
12/7/23 2:13AM
But bnks are asking for adhar to exchange 2k notes
SBI nahi le raha
Sir picture abhi baaki hai.
Next picture kab daaloge??
Par ek catch he.
RBI ne limited notes print kiye the. Ab sab paisa vapis ayega to woh banks ki machines through scan aur validate hoga.
Agar koi fake notes he toh voh nai exchange ho payega.
Govt ko information hogi ki election se pehle bohot fake currency market me ane vali he. Ab woh puri fake currency kachra ho jayegi
As always awesome knowledge sir
Thanks❤
Sir please upload a video about NPS!!
Bhot basic knowledge...
Jiska mind bhi na chal rha ho conversion wo start kr dega is video ke bad😀😀
Need to exclude bank holidays i.e. Sundays etc.. while arriving at the 24 lacs figure 👍
Thik se dekh lo pehle, u can do the same thing unlimited times per day... Mandbuddhi
Ab kese pakda jaye wo bhi bata do..Sahil Bhai..😂
In india Taxpayers dont pay TAX , We do CHARITY 😂🥲😭
- Loyal Taxpayers
Sir, Govt ki intention nhi hai black money ko pakad ne ki lekin baas ek cheez KYC must karne paar govt ek teer se do nishana maar paati
Puri video lagta hai dekha hi nahi aapne. KYC ke saath bhi evasion ka bataya hai video me
Sir kindly throw some light on the CFA course.
🔦