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What to do with 50L Cash?

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Benevolent
Sudarshan61

One of my friend has received 50L cash + amount in bank for a property

Give some advice on what can be done with 50L cash

1. Don't want to spend use less stuff

2. Can't deposit in bank

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Pro Community Angel Pro Community Angel
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Suggestions in order of personal preference 

1) Buy a new property

2) Keep the amount at home and slowly add in bank over 3-4 years. The opportunity loss would be significant 

3) If you have a trusted contact who borrows money in cash then consider that. Builders, other businessmen often take such loans. This is very risky though, have personally lost money even though the other person was a relative. 

4) Buy agricultural land and start a farming business. You can start any business but suggested farming because it's straightforward. Easy to hire labour and get reasonable returns (would be lesser than other businesses but sustainable with no tax) 

Pro Community Angel Pro Community Angel
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Suggestions in order of personal preference 

1) Buy a new property

2) Keep the amount at home and slowly add in bank over 3-4 years. The opportunity loss would be significant 

3) If you have a trusted contact who borrows money in cash then consider that. Builders, other businessmen often take such loans. This is very risky though, have personally lost money even though the other person was a relative. 

4) Buy agricultural land and start a farming business. You can start any business but suggested farming because it's straightforward. Easy to hire labour and get reasonable returns (would be lesser than other businesses but sustainable with no tax) 

Generous Generous
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Bro, It's very tough to hire labor in Farm/Agriculture nowadays. Ask someone who is doing it. 😬
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Finance Mentor Finance Mentor
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Buy gold. That's about 800gm. 100gm x 8 bricks.

Commentator Commentator
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Take equity advisory service from a good advisor (based on your friend's risk profile) and invest in equity.

Tax Wizard Tax Wizard
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and get a notice from ITD ...
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Talk-Of-The-Town Talk-Of-The-Town
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Guys sailing in the same boat.. asked the same 2 days back over reddit. Not a single answer i got that is fruitfull.

Please help me as well..

Getting 35 lac and 15 lacs 2 installments both in cash.

How can i add these in bank account and then to stock broker account with least tax implications..

What source shall i show.. Tia

Benevolent Benevolent
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You cant add in bank account. not in one go at least. 
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Deal Cadet Deal Cadet
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Most people adjust the cash to purchase property or Gold.

Depositing cash in Bank should be avoided.

Finance Mentor Finance Mentor
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@androgame

You can also pay 20% to those bhagwat guys and change black money to white. I suggested and prefer gold as it is the safest option. 

@Sudarshan61

Tax Wizard Tax Wizard
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what is this bhagwat guys ?
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Finance Mentor Finance Mentor
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Deal Newbie Deal Newbie
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Buy some golds and silver and distribute some amount in your family member

Benevolent Benevolent
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Purchase new property within 6 months?

Deal Cadet Deal Cadet
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Udao 🗿

Deal Newbie Deal Newbie
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Buy a house near colleges or factories and rent it for students and employees.  Specify any rate for rooms. There are many bachelors available. You'll get monthly income.

Pro Community Angel Pro Community Angel
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+1, PG business is skyrocketing.

Even near big coaching centers (likes of Aakash, Allen)

But needs full time maintenance (or trusted managers).

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Deal Cadet Deal Cadet
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Buy Bitcoin with self custody

Deal Newbie Deal Newbie
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Buy gold from local shops without GST 


Benevolent Benevolent
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Op ragda jaega
Deal Cadet Deal Cadet
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Ideas for 50L cash:

1) post office  still accepts cash on few investments - ppf 1.5L/year,..

2) Given few lakhs to close family members which they can spend as cash and ask them

   a) to pay your bills (like rent,credit card bill,..) 

   b) send back the amount as bank transfer which you can claim as gift. (Gift from close family members are exempted from tax).


Deal Cadet Deal Cadet
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Buy Toyota Fortuner. rolleyes

Deal Cadet Deal Cadet
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Purchase a semi furnished house in an urban area and put it on rent (PG/OYO) for better returns and the property price will also keep increasing

Entertainer Entertainer
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Best is delete this post. Nahin toh aapki wajah se aapka dost ka 50L toh jaayega hi aur woh bhi andar ho jaayega

Deal Newbie Deal Newbie
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Aaj kal paisa kamana bhi paap hain  aur na kamao to shaap hain . Aram se jeena mana hain
Helpful Helpful
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Even if u chose peace over money...

Society won't let u live in peace.

They want u to be like them or they make ur life hell even if u r living in heaven (Thru Meditation, Gratitude etc etc, u can experience heaven here itself)

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Deal Newbie Deal Newbie
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10 auto lelo aur kiraye pe Chadha do 

Deal Cadet Deal Cadet
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Invest all amount in Bajaj Finance Non Cumulative FD... Get monthly interest upto 30,000 Rs for 50 lacs investment.. 
Deal Cadet Deal Cadet
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split the amount into 5l and deposit into different accounts different person of the bank, in a year if you are filing tax you can deposit upto 20 lakh so 4 accounts of different people go and depoist and convert into white. also the deposit charges are shit high even in govt banks around 500 to 1500rs for 5 lakh. And pay tax on interest next year. 
Frequency must be once in a week or twice in a month for deposit and also just mention you got money from selling property or giving rent or lease to a person if at all they ask on face why deposit, else none of the bank will question you now

Beacon Beacon
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Give me and forget the rest

Post Emperor Post Emperor
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Give it to me grinning innocent

Deal Newbie Deal Newbie
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Hire a small farm place. Get a GST registration (composite scheme) for farming business.

Buy some poultry for 20-30k or 1-2 low value animals and sell them immediately at no profit/no loss.

Deposit cash in the bank a/c and claim it as income from farming (poultry or animal husbandry). File ITR claiming it as agricultural income.

Keep all proofs ready, like registered lease deed for farm, poultry purchase receipts and GST returns etc.

Deal Hunter Deal Hunter
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You should be CA for Politicians 

aplausos-clapped


Heart of Gold Heart of Gold
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Will do Farming (agriculture)

Hotshot Hotshot
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Buy a property where you can earn rent. Only 11 months agreement

Deal Newbie Deal Newbie
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In delhi ncr, good properties don't come below 1cr
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Deal Cadet Deal Cadet
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Buy 4g 22k,24k coins from local shops,

Deal Newbie Deal Newbie
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Perfect method 1) keep 10 lac for deposit, slowly deposit 10 l over 1 yr … 2) buy gold of 1.8 l every month for a yr up in split, so 20 lakhs goes like that and keep bank locker 3) keep 2 -3 lakhs as hard cash for yearly person use Join post office or pigmi scheme worth 4 lakhs pay monthly EMI
Comrade Comrade
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Income tax has also voted up and give karma and following this thread.

Deal Cadet Deal Cadet
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Give it to me bro.i will give more than fd interest .

I will give 50k per month interest.

I am  ready to make agreement bond.

replyuser
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