"On that day, I picked up few passengers and after a while I noticed a bag lying in my cab," Dhillon told SBS Punjabi radio programme channel here.
He said when he opened the bag, he found 11 bundles of 10,000 Australian dollars each.
Dhillon said instead of thinking to pocket the money, he was thinking of returning the cash to its owner.
"For a while, nobody came to claim it as the owners were not able to remember it if they had left the cash at the restaurant or the cab," he said.
"After an hour or so, those passengers called the taxi company, inquiring about the bag, and I told them that it was with me," he said.
"I went and returned the bag to the right people. The owner was very happy and said I was a super honest man," Dhillon said.