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Money literally under the mattressHari Kamat, Goa

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Key Take-Aways
  • Avoiding tax liability is not a way to create wealth. Instead, focus on creating money that is official. Having proper records will help to expand the business as you need tax returns to get a loan from bank.

  • Having proper records rather than dealing solely with cash helps to keep better track record of cash flows and assess the growth of the business. It is easier to create a surplus to do proper investments.

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Comments Posted
Vijay Hede ARN NO :Shivranjani Securities Pvt. Lt Panaji , 08 Jun 2018

Very interesting conversation. I heard for the first time how an IFA reformed a black marketeer. Wish him a success for more such conversions. Only a small grammatical needs to be pointed out. Tax avoidance is perfectly legal Tax evasion is not . You possibly mean evasion and not avoidance. When you invest in a FMP rather than Bank FD you avoid tax and not evade. Warren Buffet himself suggests that for creation of wealth tax avoidance is a must.

Vinay Kumar Laxman ARN NO :ARN-89615 Bangalore, 06 Jun 2018

Video is getting stuck frequently. Why it is not playing continuously

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