Rules of donations have been changing. As per the earlier rules, there is no restriction for someone to pay donation of up to 20,000 INR. It means earlier most of the political parties used to accept donations or showcase donations as less than 20,000 INR. This used to be one of the biggest opportunities for someone having black money. Well, the rule has been changed now. But, it has no way stopped the process of turning black moneys in to white. Rather, it can be claimed that there is no way available for someone to stop conversion of black moneys. Anyway, presented below is an interesting abstract on the trending ways of converting black moneys in to white in present scenario. Check this out!
The latest method of donation or the way of turning black money in to white is to buy bonds. You can buy bonds from different branches of State Bank of different worth, starting from 1000 to 1 crore. Nobody is going to ask from where you bought these bonds. It means now no one knows how you converted your black money Not that the political parties only get benefited through such bond buying process. It helps the businessmen as well. The game is simple; just open a party or group with XYZ name, donate your own black money to it, and as the party is backed by you only, use the same money converted in to white. Moreover, you can accept donations through that party as well, if you worked hard a little on social issues or political issues. Yes, it means any criminal, fraud, etc can donate through this bond buying method, and no one will know about that.
Donate to NGOs or any private religious organisation:
The other interesting way of turning the black money in to white is by donating through NGOs and religious trusts. One can donate through these centers, without revealing identity. No one is going to ask from where you got these moneys. Now it is not needed to explain why every political party, celebrities, etc, are always associated with one or many NGOs, any specific religious trust, etc.
It is here to mention that the NGOs and Religious trusts don’t need to reveal their earnings in public. Only the government can know through special power. It means as long as government wholeheartedly not wishes to put someone behind the bars for corruption, no one else can.
Now, you may use this knowledge wisely. You may try this, or raise a voice against it. Else, just read, get entertained, and forget; simple as that!
But, please don’t get disheartened. There is always ways available for those who do. If you too are interested on how to act against such fraud activities, go through the link below. It tells about modern rules and how nothing can be hidden through KYC.