To all the Beginners & Armature Consultants of Rice-puller.com

Let me share true math about the U-Turn work and not only you but your clients are doomed. If they do U-turn work.

1. IT act 2000 and Corporate Act 1956- 2001- 2013 (a) Income Tax : 33% (b) Corporate Tax (Domestic Company with turnover more than Rs 250 Crore) :- 30% (c) Corporate Tax (Domestic with annual turnover upto Rs 250 Crore or less) : 25%

Lets assume : there is individual with a corporate company with less than 250 Cr turnover. you approach him for the U- turn of 100 CR. Now lets assume he got 100 Cr in his personal bank account.( & he do the transfer to is corporate account) Now his corporate account shows the balance of 100 Cr

if he do the transfer to any other company either he or the receiver company have to pay 25% tax (in most cases sender have to pay).

now out of 100Cr 25% gone in tax. =85 Cr remaining

now lets assume he have received 110 cr back as cash,

he will hire a consultant to transfer the cash back into his account there he have to 33% tax as income tax (if he is not using cash)

so remaining = 85Cr - 33% = 56.95 Cr ..

Now let me summarize in small phases

1. Party A (with cash) give = 110 CR or maximum 125 CR (that top) ---( 10% to 25%) top 2. Party B (with RTGS) give = 100 cr

Now 1. Party A receive = Rs 100 Cr 2. Party B Receive = Rs 125 cr

Now 1. Party B Pay = 25% corporate Tax 2. Party B Pay = 33% Income Tax Now you decide who is in lose

Now Some professional consultant will argue and tell you well Party B, will have to pay 33% income tax somehow, but the thing they don't tell you if Party B got 100 CR through selling land or property he dont have to pay taxes if he/she invest in property within a year

just because Party-B transferred the amount they come in Tax radius. where they had a chance to safe the tax by buying the property.

Now come the RBI-Income Tax & FATF-India office role.

As soon as you do 100 cr transfer FATF (Financial Action Task Force INDIA) will be active and send you a summon to justify the transections. in which you will fail (definitely fail) then have to pay some how (I don't want to get into details). But trust me they know you did a bogus transections. Until and unless you have very very top level lobby with you. you wont survive.

Now come the Role of CA Some unethical CA will tell you we will do less than 24 CR in one go, so that FATF don't get alerted. Then i will definitely laugh on them your calls, sms, whatsup and your every movement will be monitored from first day onwards and one morning IT officers at your door step.

Welcome to the world of Unknow.

Know i am not trying to scare you about just think about your family & parents and there reputation they build for you to ruin in one day. And in return you got nothing.

If you want to work educate your self learn, read book, read past 20 years IT raids. Learn how the financial Wold Work. And then you are the master of your self .

good luck and take care.