How much tax expectation for unaccounted deposits and Govt Panelists on illegal money

How much Tax expectation for unaccounted deposits and Govt Panelists on illegal money

India Modi Government banned 500 and 1000 rs notes, these situations is difficult to  unaccounted deposits and some peoples faced small problems from 3 days.

How much tax on unaccounted deposits and illegal money

India Govt Main purpose back to black money and stopped fake currency, Some black money persons struggling and search on google 'How to convert black money to white' that is an old topic.

Present hot topic how much tax for unaccounted deposits and Govt Panelists on illegal money some accountants decide and expectations share with peoples.

India Tax on unaccounted deposits with Panelists on illegal money:

1- Rs.2,50,000    =   No tax

2 - Rs.5,00,000    =   2.5 Lakhs (10%) Tax - Rs.25,000

3 - Rs.10,00,000  =   2.5 Lakhs (10%) Tax - Rs.25,000

                                                    +  

                               5,00,000 Lakhs (20%) Tax - 1,00,000

                          =   1,25,000 + Penalty 2,50,000

                 Total = Rs.3,75,000

4 - Rs.20,00,000 =   Tax - 4,25,000+Penalty 8,50,000

                 Total  = Rs.12,75,000

5 - Rs.30,00,000 = Tax 7,25,000+Penalty14,50,000

                 Total  = Rs.21,75,000

6 - Rs.40,00,000 = Tax - 10,25,000+Penalty20,50,000

                 Total   = Rs.30,75,000

7 - Rs.50,00,000 = Tax - 13,25,000+Penalty26,50,000

                Total   = Rs.39,75,000

8 - Rs.1,00,00,000 = Tax - 28,25,000+Penalty56,50,000

                Total = Rs.84,75,000

Note:- data collect to tv9 sourcce