Calculate Tax for Black/ Undeclared Money Deposited : 200% Penalty

Online Tax Calculator Undeclared Money 200% Penalty

Here you can know your tax details for your money ... Since the Ministry of Finance, Govt. of India made it clear that Black Money or Undeclared Money will not be easily converted into legal just by declaring it, Now the Black Money holder have to give 200% Penalty along with Tax calculated. So here We have given the Tax Calculation on Black/ Undeclared Money Deposited along with 200% Penalty and how will you receive after paying tax and 200% Penalty. Here is Complete Penalty Tax Calculation after every possible exemption :

Calculate Total Returning Money After Tax Deduction 200% Penalty

1) Below 2.5 Lac Deposit
Tax-payable : NIL
You need not to pay any tax since government permitted this much amount under गृहणी बचत Scheme

Online Tax Calculator 200% Penalty

2) 5 Lakhs Deposited Undeclared Money
 Tax Payable – 75,000
First 2.5L- Exemption
a. 10%of2.5L = 25,000
A. Total Tax(a) = 25,000
B. 200% Penalty on Tax = 50,000
Total tax Payable (A+B) = 75,000

3) 10 Lakhs Deposited Undeclared Money
 Tax Payable – 3, 75,000
First 2.5L- Exemption
b. 10% of 2.5L = 25000
c. 20% of 5L =1,00,000
C. Total Tax(b+c) =1,25,000
D. 200% Penalty on Tax = 2, 50,000
Total tax Payable (C+D) = 3, 75,000

4) 20 Lakhs Deposited Undeclared Money
 Tax Payable – 12,75,000
First 2.5L – Exemption
d. 10%of2.5L =25,000
e. 20% of 5L =1,00,000
f. 30% of 10L = 3, 00,000
E. Total Tax(d+e+f) =4,25.000
F. 200% Penalty on Tax = 8, 50,000
Total tax Payable (E+F) = 12, 75,000

5) 30 Lakhs Deposited Undeclared Money
 Tax Payable-21,75,000
First 2.5L- Exemption
g. 10%of 2.5L =25,000
h. 20%of 5L =1,00,000
i. 30%of20L = 6, 00,000
G. Total Tax(g+h+i) = 7, 25,000
H. 200% Penalty on Tax = 14, 50,000
Total tax Payable (G+H) = 21, 75,000

6) 40 Lakhs Deposited Undeclared Money
 Tax Payable – 30,75,000
First 2.5L- Exemption
j. 10%of 2.5L =25,000
k. 20% of 5L =1,00,000
l. 30%of30L = 9, 00,000
I. Total Tax(j+k+l) = 10, 25,000
J. 200% Penalty on Tax = 20, 50,000
Total tax Payable (l+J) = 30, 75,000

7) 50Lakhs Deposited Undeclared Money
 Tax Payable – 39,75,000
First2.5L- Exemption
m. 10%of 2.5L =25,000
n. 20% of 5L =1,00,000
o. 30%of40L = 12, 00,000
K. Total Tax((m+n+o) = 13- 25,000
L. 200% Penalty on Tax = 26, 50,000
Total tax Payable (K+L) = 39, 75,000

8. 100 Lakhs/ 1 Crore Deposited Black Money
 Tax Payable – 84,75,000
First 2.5L- Exemption
p. 10% of 2.5L=25,000
q. 20% of 5L =1,00,000
r. 30% of 90L = 27, 00,000
M. Total = 28, 25,000
N. 200% Penalty on Tax = 56, 50,000
Total tax Payable (M+N) = 84, 75,000

And So on… Please note that Above Calculations are based upon assumption of 200% Penalty , Which is announced by Govt of India Recently