white is to declare it as farm income which is not taxable one reason why many buy farm houses near delhi some people even buy receipts from grain merchants to prove they have made money from genuine farming activity for this they pay up to 5 per cent of the receipt value to the merchantbecause gift tax is zero some people take loans and gifts from relatives to convert black money into whitea lot of money which has been taken out of the country comes back as foreign direct investment or foreign institutional investment in 2004 around 18 billion came via fiis and fdi investment some of which was recycled black money