NEW DELHI: The government crackdown on unaccounted cash since November 8 has put many investors in a state of disarray. While the war on hoarded money is on, the government has also given more opportunities to people to declare their unaccounted wealth.One such measure introduced on Monday offers 50 per cent tax and four-year lock-in for unaccounted wealth.Finance Minister Arun Jaitley introduced a bill to amend the Income-Tax law, which offers people disclosing black money a scheme to mandatorily deposit 25 per cent of the amount disclosed under the anti-poverty scheme without interest for a four-year lock-in period.The government warned that if cash hoarders do not take advantage of the new amnesty scheme and get caught subsequently, they will be slapped with an 85 per cent penal income-tax. The government has already moved amendments to the income-tax law to enable this window.Although some brokerage firms have already cut their December-end estimates for Sensex and Nifty50, yet they say calendar year 2017 promises to deliver double-digit returns on stocks.“The low-return environment that India seems to be trapped in may change in 2017 thanks to better equity valuations, the bottoming of the growth cycle and higher correlations with global equities, on which we are more constructive,” Morgan Stanley said in a report.“There is a case for a big shift in asset allocation to equities for domestic investors. The last time an equivalent valuation opportunity in favour of equities arose was in June 2013,” it said.The base case scenario for Sensex target by December 2017 is 30,000 while in the bull case scenario, it may go as high as 39,000.Can Indian investors take advantage of equities and use the opportunity given by the government to declare their unaccounted wealth and at the same time help the economy by investing in equities?The answer to that question is yes! Some analysts have come out with a plan, which can help investors make money even if they pay tax because the strength in the Indian equity market will only grow from here.“Indian households would invest over $100 billion in equities directly and through mutual funds in 2017. Almost 50 per cent of them will be first timers,” Porinju Veliyath, MD & Portfolio Manager at Equity Intelligence India, said in a tweet on Tuesday, November 29.He said investors can convert Rs 100 unaccounted cash into Rs 125 in four years! “The utility and productivity of the white money over unaccounted cash at the end of four years would be much more,” Porinju said.According to Porinju if an individual deposits Rs 1 crore in his bank account and pays the required tax and then transfers the remaining savings into equities, s/he can still make Rs 75 lakh by the end of four years, he told ETMarkets.com over the telephone.Let’s understand the concept. If one deposits Rs 1 crore in a bank account, half of it will get deducted by the way of income-tax, and the remaining 25 per cent or Rs 25 lakh will be locked in the anti-poverty scheme without interest. The remaining Rs 25 lakh can then be invested in stocks via mutual funds or direct equity.After four years, the amount invested in equities could double to around Rs 50 lakh, and one would also be able to withdraw Rs 25 lakh from the locked-in scheme. Thus, the total amount at the end of four years would be somewhere closer to Rs 75 lakh.Porinju said the equivalent utility value of Rs 75 lakh at the end of four years is equivalent to Rs 1.25 crore, when one thinks of the added value, peace of mind as well as dignity. To explain, he said that Rs 75 is pure white money in hand after 4 year with projected reasonable return on equities (almost double) which is interest free deposit.The utility of Rs 75 lakh received of notional Rs 1 cr invested is much higher compared with Rs 75 lakh stashed in bed. The value added by Porinju is 20 for that, the rest of the value parameters such as 17 for peace of mind and 13 for dignity are intangible wealth which only good citizens can understand and appreciate, he explains.