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14 Valid Ways to Convert Black Money to White

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Converting black money to white

Converting black money to white

With the sudden governmental actions taken to curb black money circulation, many big shots of the country are facing the pressures of converting all illegally acquired wealth to white cash. Before proceeding further, it is important to understand what exactly black money is. Black money in the Indian economy refers to the money that is earned in the black market, that is, the money on which the individual does not pay taxes to the government. This is illegal and punishable under the law. This is perhaps why the black money recipients tend to hide such facts and spend this money in cash instead of other forms of banking transactions.

Though absolutely not advisable, there are certain loopholes in our economic system that makes it possible for black money to be converted to white money. These are perhaps the opportunities that black money recipients might use currently in order to overcome the government regulations against illegal money. Some commonly used practices include,

  1. Charity donations

With excess money to be converted from black to white in hand, most people would prefer donating lavishly to orphanages, old age homes and other charitable organizations. The amount is generally paid in cash form, without any receipt requirement. Some organizations may also take direct deposits to their organizations account as well. This helps the person clear off black money as well earn praises from society for helping the needy.

  1. Give it to the needy

This is perhaps the easiest way to get rid of black money. Passing on some money to someone in need or someone who is financially not sound enough can help the person live a better life and the donating person some peace of mind.

  1. Invest in expensive valuable

With lots of hard cash in hand, it is common for people to buy high value goods to convert the black money to white. This may include buying a new property, land or flat, a new car or any other expensive good. The buyer generally requests for a back dated bill from the seller to cover up the ploy.

  1. Set up a new start up

This is the best time to give wings to new ideas in the form of new business ventures. Setting a new company requires ample investments. This allows black money to be utilized fruitfully and also establish a start up company to avoid the eyes of the tax department.

  1. Loan out to others on low interest rates

Another easy way to convert black money to white is passing on some amount as a loan to others while charging a really low interest rate of may be 1-2 %. This offer is lucrative enough for others to take up the loan and a way out for black money recipients during this period of crisis.

  1. Invest into various sectors of finance

One can easily invest large amounts on various sectors of finance. They can buy new insurance policies of higher values and invest in mutual funds. This investment makes it possible for black money to be utilized profitably.

  1. Advance payments

Businessmen can pass on large amounts of black money in the form of advance salary payments to employees. Appraisals and bonus paid to employees keep the staff happy and satisfied while the employer can get away without paying taxes on large illegally acquired cash.

  1. Cough up taxes

The recipient can pay up taxes on some portions of the acquired black money in order to avoid the eyes of the Income Tax department in terms of the rest of the money, which can be an atrocious amount for the government officials.

  1. Fill up on fuel

With fuel stations taking old notes and cars always requiring fuel, black money recipients can stack up on fuel like petrol and diesel in bulk quantities. Though this is a risky option, with the law over their heads, black money recipients are more likely to take up the risk in the current situation.

  1. Income as Agriculture Income

Another popular way of converting black money to white is by showing the income amount as agriculture income. This is possible only when the person possess any land. If not, then the primary task is to acquire large areas of land. This land is then used for agriculture purposes like small scale plantations, gardening, farming and setting up nurseries.

  1. Cash Income from Profession

One of the most popular options of converting black money to white is simply showing the cash income as payment from profession. This can be from professional income from tuition to students, and professional fees or commission for education related issues.

  1. Stacking on liquor

Big businessmen can plan of stacking large quantities of highly expensive liquor and other alcoholic drinks. This can be shown as required for personal parties and other events. This helps spend the black money in the form of white cash

  1. Lavish shopping soiree

Big large amounts of liquid cash in hand, though black money, people can easily spend up on lavish shopping trips to the malls. Purchasing expensive shoes, clothes, household items, accessories, make up items and other home products can help get rid of illegal funds.

  1. Expensive holidays

One can relax and unwind with family and friends on a vacation to exotic locations. The holiday reservations can be paid using the black money cash fund. This way one gets to enjoy, have a nice time and also be stress-free in terms of tax-free money.

These are probably only few of the possible ways to convert black money to white. Black money recipients would probably be thinking of several other ways to overcome government regulations and get away with illegal money.

Disclaimer –

We don’t recommend readers to follow any of these methods for black money conversion. This article is just for exposing loop holes of our system. So, that RBI and the government can take appropriate action by formulating strict rules to remove black money from India. We are against black money and black money generation ideas.

If we have missed any other methods which people use to convert their black money into white money we’ll request you to share it in comment sec.

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Casters Keep The World Moving

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Casters Keep The World Moving
  • Scooting your desk chair around the office.
  • Moving an IV pole closer to a patient’s bedside.
  • Factory workers moving large equipment across warehouse floors.
  • Taxiing of a plane into and out of a gate for takeoff.
  • Pushing your shopping cart through the supermarket.

What do all of these have in common?

They all happen thanks to the humble caster wheel. Originally patented in 1876 by an African American inventor, David A Fisher, the caster wheel was originally created to help move heavy furniture. These small wheels are set onto a rotating base that allows an individual to move a heavy object in virtually any direction. This allowed the mover of the object to remain safe from injury while also keeping the heavy object safe from damage due to accidental drops.

Since their inception, the design has been improved upon several times. In addition to their original purpose for moving furniture, they have been adopted across countless industrial and domestic applications as well as various types of material handling equipment. Have you ever been to an industrial equipment supplier and saw dollies, carts, or mobile buckets? All of those items help you move heavier items by utilizing casters. Their unique ability to scale in conjunction with the requirements of a job or application is an integral part of their legacy. Caster wheels are able to support objects weighing many tons or just a few pounds depending on their size and composition.

The caster wheel has saturated our modern society since the initial adoption nearly 150 years ago. Even the New York Times has praised the modern caster wheel, discussing their various uses and handiness around the home from the garage to the kitchen to the craft room. If not built into the item, moving furniture is made easier with a few simple caster wheels tucked under each corner. Larger home appliances such as refrigerators, ovens, and washing machines will often come with built in casters making their cleaning and maintenance much easier.

Typically, the larger the caster, the easier it is to roll over various surfaces without damaging them. Caster wheels are so versatile that you are able to find them in nearly any material; from low-cost plastic options for light weight jobs to heavy duty rubber for large jobs like vehicles and shopping carts. Their versatility has also allowed them to become a great success in the medical and scientific industries where they are made of high impact and low resistance materials.

This simple design has been a constant source of inspiration for enthusiastic DIYers. Casters provide you with a near unlimited range of movement on items that previously could have been impossible to move. This has led to interesting projects and even continued improvement on the design.

The next time you’re starting a DIY project or putting together furniture from a set of visual instructions, consider adding a set of them to your project. Take a glance at the selection in your neighborhood hardware store or looking toward your favorite online retailer for sets of casters. Providing additional movement, as well as protection to flooring of all types, they are a perfect upgrade for DIY projects.

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Locating the Best Discount Broker

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discount brokers

If you have experience in trading then you might be looking for the best discount broker in India to handle your transactions. This relates to buying or selling of securities. The broker needs to ensure a reliable platform so that the transactions can be executed. Additionally they need to provide protection insurance even if the brokerage does not exist in business.

The objective of a discount broker is not to give you advice, but execute your transactions in a fast and efficient manner. You cannot compare them to the full brokerage firms which offers advice and constant phone support via the medium of investment strategies. It has to be said that discount broker are more of a help to an experienced tradesmen.

The charges associated with a discount broker include maintenance fees, transaction fees, inactivity fees or stop loss charges and it could relate to special requests. Compare the different discount brokers in terms of fees to choose one that aligns with your needs. As this works out to be a very competitive field, most of the firms just advertise the transaction fees and do not mention hidden fees.

For most discount brokers minimum account balance requirements are there. Though they are going to differ ideally you would want to check out on a broker who provides a minimum account balance. Do select a discount broker that offers insurance to the trading funds even if the brokerage winds up their business.

The discount brokers will provide you with a trading platform but not investment guidance. This would be really important if something goes wrong with the trading platform there is immediate assistance available on the phone to provide your assistance.

If you analyse there are a couple of brokers. The first is the full service brokers and then the discount brokers. The full service brokers had their existence in the period of 70s even before the discount brokers came into existence. The discount brokers have recently started their services via an online platform.

The full service broker helps clients decide on their investments, provides advice and charges a lot of money. Some brokers would charge $ 100 for a trade and in comparison for the same trade a discount broker charges around $ 10. The full service brokers provide services that you might not even need. If you do not want to pay attention to your investment and want a professional to undertake dealings then they are a good choice. But if you want to save a lot of money particularly in terms of money and fees, then a discount broker happens to be an obvious choice.

With discount broker they charge for the trade executed. You are not going to avail any advice beyond the online tutorials. Most of the investors will not need this. If you lack knowledge in terms of investments opt for mutual funds. They do not need any extra fees and you can invest there without undertaking a lot of  research.

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How to Pick the Right Coders?

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Pick the Right Coders

If you are an IT company, then you might be having plenty of programmer’s right? If you are planning to recruit some programmers for coding tasks, it would be good if you evaluate them well before you recruit them. You cannot simply have anyone or everyone working for you.  Once you are sure about the right options, you can make the best recruitments.

The point is that the coding challenges are on the rise. You can find a huge competition in coding. There are complex situations and concepts that have to be tackled with affectivity and professionally. It is the time that you recruit developers on the basis of their skills and not merely on the basis of their resumes.

It is true that the computer programming is the procedure of developing and executing diverse sets of instructions to enable a computer. These permit it to carry out a specific task, solve issues, and cater human interactivity. These source codes that are written in a programming language are believed to be computer programs and help the computer to work in a smooth manner. Of course, modern programming is an on-line procedure and it includes interaction between the computer and the programmer. There are only a few applicants who can get their code right on their first attempt since testing and debugging is a vital aspect of the programming procedure.

Use a test

It would be a good practice to have a test in your recruitment program to assess the calibre of the candidates. You have to be sure about the potential and affectivity of the candidates   you recruit. Once you have the right tests in your recruitment program, you can make the best recruitment. It is all about how you recruit your programmers. Once there is an aptitude test to measure the programming and coding potential of the candidates, you can be sure about the capacity right away. It is not about the details, it is about the basics. You would recruit only such candidates who are professional and have sound knowledge of programming and coding. The test would make sure that you are not selecting dead wood.

You would agree that software developers diminish the turnaround time of solving different types of problems. Apart from this programming and coding skills, they have to possess the capability to examine the data and logic behind every single business or development action.   It is important that the coder has all the information and knowledge about everything.

What type of test tool you can use?

There are many types of tools that help you in testing the calibre of the coding and programming candidate’s right at the time of recruitment. Have a look below:

Flexibility

You have to find out if the test allows the authors to tailor the grading to the context. Does the test have a few questions that apply a no resubmission penalty?  The test has to be in a position to support any type of text-based programming language with integral question types available for C, Java, PHP, JavaScript, Python, and much more.

Check out the scalability of the test tool

Always remember that an excellent tool should have the questions that can from simple fill-in-the-blank coding questions via the fairly vital assignments. Thus, the test concepts have to be blended with other computer-graded question types such as numeric, multi-choice, short answer, or matching.  It is all about the type of test you have opted for. If you have an effective test that has scalability, it might get you the results in a most effective manner. Certainly, to get the right people for your coding requirements, you have to perform an assessment of their skill.

Impartial and professional

Once you look around, you would come across effective, impartial and professional tests. These tests are made to assess the aptitude of the programmers and coders. The tests have been designed by the professionals who have well-versed knowledge in programming field. They make the test in a way that the candidates get measured and assessed in the most effective manner. After all, it is all about the impartial and right selection. Since there would be no say of the recruiters in the test, the candidates would get selected in the prolific manner. Whoever performs well in the test gets the place for the next levels of recruitment procedure. The test is professional because it is made up of strong questions, situations and blanks for the candidates to solve. In this way, the applicants get assessed in the most effective way.

Why you need a test for coding applicants?

The truth is that some individuals are absolutely good at tricking. They are going to tell you what you wish to hear, and they do know just enough to attain this. For example, a person would successfully explaining what specific content of coding is doesn’t mean they actually know how and when to make use of it. Tricking takes place a lot in industries wherein the rewards are high, as these can be in the realm of software development. Therefore it is imperious that you run some type of test to authenticate capability.  Once you have a test, the candidates would have to perform and their performance would show their calibre and affectivity.   Remember in case you are planning to run a test though it must be part of a procedure, not a sieve. It also has to be the correct sort of test. The certain and apparent reason for this is you might miss the great candidate because of a poor and ineffective test. The point is when you are using a test; make sure that it is effective, professional and efficient. Once your test is qualitative, professional and impartial; the candidates who get filtered through the test or get selected through the test would be much better and have good skills.

Conclusion

Thus, having said it all, it is apparent that you take a test for your recruitment program. You cannot simply pick any candidate on the basis of what he or she is saying; you have to dig deeper!

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