Points to remember before you participate in this discussion:
|Shivam Singh Rajput said: (Nov 30, 2020)|
Today we are going to discuss the black money. Black money means people who have gathered their money without pay taxes. For this reason, we are still developing country not developed country. Our country has approx 6% original taxpayers. For this reason, the government is not capable to make more plane to reduce the poverty and also our GDP going reduce day by day. We should be an honest taxpayer to develop our country otherwise richer will be richer and poor will be poorer.
|Hitesh Yadav said: (Nov 28, 2020)|
|Hi guys, we all are discussed here the term black money.
According to my opinion, we are Perpetrators of this scenario that why black money runs in the market because everyone busy in blaming one another than to try to overcome the problem if we individually think and make a resolution that we do not take and gives bribe then we will get rid of quickly from this situation.
|Narender Kumar said: (Nov 26, 2020)|
My name is Narender Kumar. Thanks for giving me this golden opportunity to discuss on the BLACK MONEY.
Black money means, the money is earn/collect without paying of tax and illegal way.
Due to the black money in our country increment of poverty and corruption.
Due to the black money the GDP of our country is also reduce.
Due to the black money rich becomes richer and poor becomes poorer.
Black money is earn from the black market.
Black money is the widens gap between rich and poor.
|Aditya Singh Anjani said: (Nov 26, 2020)|
I am A S Anjani from Bihar.
Today we discuss Black money. The money which is stored by without paying any taxes. The collection of this money by any way in which one is famous that is a bribe.
Our government continuously try to decrease this but its impact is not marvellous. Our present prime minister takes a big decision regarding this NOTE BANDI.
|Vikas.Patil.Kushtagi said: (Nov 24, 2020)|
|Black money is money on which tax is not paid to the government. The sellers in both examples have earned money from legal sources but evaded taxes. The most common source of black money is the black market or underground economy.
|Heeramani Singh said: (Nov 22, 2020)|
Today we all have gathered here to discuss as I have seen you all are right.
Black money in India it means the money which is consumed or collected by doing illegal activities. As well as they hide their bank balance.
And In my opinion, it can be prevented by taking action against them.
And all the people of our country should aware of this kind of problem.
|Kanak Sharma said: (Nov 18, 2020)|
According to my perception, black money is an illegal collection of wealth without paying taxes to the government. Now it is become a mammoth problem due to the mindset of people. It becomes very ridiculous.
How to reduce it.
A. government should be taken initiate with a visionary plane.
B. people should be aware of it.
C. start a campaign for provoked the people.
D. restriction should be enhanced for this type of flattery.
Thank you all.
|Anil Kumar said: (Nov 18, 2020)|
|Hello, friends, I am Anil Kumar from Bharatpur Rajasthan.
Today, I want to discuss our gd topic of black money in India. As we all know now black money is soaring high in the sky it can't be caught. It has a bad effect on us. No one country remains from it. All country is suffering from it. To check it our prime minister Narendra Modi rose some steps demonetization is one of them but it was not as affected as we hope. Digitalization is very effected on it now this is time to rise whole youth against it. At the recent time, there were many scams in our country. For example, Chara Ghotala is one of them which was happened in Bihar. As we can see now not a single man can't get any work without giving any bribe so this is a very dark side of it. So, the government and people of India should stand against it. Thanks a lot.
|Harish Malik said: (Nov 16, 2020)|
In my opinion, the black money is illigal source to collect money, who give no tax they collect black money and other activities collect money, our PM Modi has taken good decision to notebandi, the people who catch by the government they collect black money.
|Mandeep Jangra said: (Nov 12, 2020)|
In my opinion, people are avoiding to pay the tax and deposit their money in another country means the money deposit by the people without paying the tax called black money. According to me, demonetisation is good to think for reducing the rate of black money and the new currency has come in the market. Thus the whole people deposit their money in the bank and those people don't pay their taxes, the government can taking legal action for criminals. Black money also reduces our Economy, GDP and inflammation is much higher.
Thank you all.
|Akash Prajapati said: (Nov 11, 2020)|
Black Money stands for not giving taxes to Goverment that lead to hamper in Nation development. This is the good move that is 'Notebandi' that taken by Goverment of India it reduces black Money in India.
|Akhilesh said: (Nov 10, 2020)|
|In my point of view, this is one of the reason for India to be still developing nation. By doing illegal activities and earning black money rich people are becoming richer, poor people very very poor. Even after banning of 500, 1000 there is no change. Political leaders must change and even every individual must change to make India as a black money free nation.|
|Abhishek Sen said: (Nov 9, 2020)|
My name is Abhishek Sen.
Today, I am discussing 'black money in India '. Nowadays black money is increasing very fast in India. If govt will not prompt action on the black money India never develops like another country. And as we know India is a developing country and moreover. Approximately eighty percent of people in India will fall under the category of the middle class and poor class so they are mostly dependent on the government for getting the benefits of government services. Mostly they won't wait for that. They have to use it quickly. So that they will give some amount to the officers which lead to corruption. And also this forms a way to black money. Simply black money is the money for which the tax yet paid. If the people in India is honest in their work half of The black money can be abolished.
|Sumit Ahlawat said: (Nov 9, 2020)|
|Good morning, afternoon, evening, friends,
Today, I want to come in light the major problem that has been faced by many countries all over the world "Black Money''.
Black money is the part of the personal assets of a person for which no taxes is paid. It is start with a single person and flourish worldwide. Its main cause is corruption. If corruption nipped in bud, black money reduced a lot.
I suggest many measures to abolish black money.
(1) By starting digital India campaign.
(2) A secure planning must have taken before demonetisation.
(3) A citizen of a country must have a single personal account in his own national and state banks.
(4) Transparency in a transaction.
(5) By bringing mutual agreement among different on account of citizen accounts in different countries state banks.
|Neeshu Gupta said: (Nov 9, 2020)|
|Black money reduces our economy rate and that's why until this is a developing country.|
|Anurag said: (Nov 8, 2020)|
|From many years, we face the problem of black money in our country. This black money increases in anywhere due to the greed of the peoples to don't giving tax. The Indian government also has taken some important step to resist it which examples we see as "Notebandi", GST etc.
I think that this problem cannot be solved only by Government restriction for clearing black money from society, but it can be solved by cleaning our black Mind.
|Rahul Yadav said: (Nov 8, 2020)|
I am going to tell something about black money, that money which is without paying taxes is called black money. We should help our nation with pay taxes. I end my discussion with saying some harsh truth GOVERNMENT IS CORRUPT THE PEOPLE, IT IS PEOPLE THAT CORRUPT THE GOVERNMENT.
|Saswata Dutta said: (Aug 8, 2020)|
|India is a developing country and moreover, approximately 80% of people in India will fall under the category of middle class and poor class so they are mostly dependent on the government for getting the benefit of government services. But mostly they won't wait for tat, they have to use it quickly so that they will give some amount to the officers which lead to corruption. And also this forms a way to black money. Simply, black money is the money for which the taxes yet paid. If the people in India is honest in their work half of the black money can be abolished. Then eventually if the corruption is abolished the politicians and rich peoples who hide their money will be noticed and most of the black money could me abolish.|
|Rajat Jain said: (Jul 25, 2020)|
1. First, we need to understand what exactly the Black Money is: Black Money is neither of the black colour nor the money generated through illegal means nor the money over which the tax hasn't been paid rather black money is that money of which information hasn't been given in ITR during filing.
2. What is the root of generating black money: Well only corruption is the main root of generating black money, where there is corruption, definitely there will be the Black money.
3. Sources of generating black money: There're various means to accumulate black money like smuggling, crimes, hoardings, hawala, bribes, politician, tax evasion, real estate and so on.
4. What measures have been taken by the government to reduce or to rein over the black money: Connecting bank accounts of the individuals with their ADHAR CARD (UID), Initiating the Digital India campaign in 2015 to control over the transaction and bringing the transparency and for the other reasons too, Demonetisation of 500 & 1000 Rs. Notes to control over the terrorism funding, hawala transactions, accumulated black money; opening up the 'Jan Dhan account" to create transparency and many more.
5. Why govt failed: As per the writ petition in the Supreme Court estimated to be at 300lac Crores Rupees is the black money in India and deposited in a Swiss bank (Switzerland) but Government courageous step towards Demonetisation got failed due to lack of planning of the RBI and other banks, around 99. 3 % currency notes returned to Bank which was expected to be at 70%. So there can be two cases either there was no black money flowing in the market or people found the loopholes to convert black money into white money. After the Demonetisation, 2000 Rs. Fake currency notes were found in an ample quantity. Even after Demonetisation, terrorists activities and attacks continued.
6. How to rein over the black money: Making the harsh law and execution of the same to punish such black money offender and forming an SIT and providing them a free hand and enough powers & authorities to rein over the black money; Proper planning and strategies; exposing the swiss bank account holder's name, controlling over the hawala transactions and terrorists funding, encouraging Digital India campaign and cashless economy; keeping an eye on real estate transactions and so on.
|Neeraj19 said: (Jun 28, 2020)|
|Good evening/morning/afternoon to all.
Let me put some light on black money. When you earn money from a legal source but don't pay the tax on that money and try to hide and keep the whole of it then that kind of money is called black money. Also, when money is earned from an illegal source then it is called as illegal money and also falls in the category of black money.
Black money is the bitter and naked truth that the whole world is facing. Especially India. Money in the number of billions is sent outside or has been hidden by our own people to save the tax. Our own people have become greedy and selfish and that is why our country in not progressing as faster as it is expected. However, our government has taken some serious steps towards the black money issue by demonetisation and by linking every bank account to the Aadhar number. But I think our citizens must also understand their responsibilities and should pay the taxes honestly.
|Divyansh said: (May 31, 2020)|
Today our topic is Black money in India.
I consider that black money is an illegal asset and black money is increasing especially in our country day-by-day. Our prime minister, Narendra Modi take the very good decision of 'demonetisation' in our country to decrease black money from India. And after it, black money is increasing again and again. I think the best way to let it down is the digital transaction and this is the best way to decrease the increasing black money. By online transaction of everything. By which there are very fewer possibilities of black money because there is are not able to store it and peoples who collecting black money they also not paying tax of that black money.
Finally, our government wants to take better steps towards these problems.
|Nikhila Soma said: (May 21, 2020)|
|According to me, black money is the illegal assets. Illegal asset means which do not pay the any taxes for them or they may be got through the currupted way.
Corruption in India is the most menance threat to our economy. India has been battling with ever, since the independence.
The main reason for corruption or black money is lack of transparency in bureaucracy and lack of implementation in rules and laws. By this black money the poverty is increasing in India. Unfortunately most of the black money is in the hands of politicians who are ruling us. Unless the general people became vigilant, the black money cannot unplugged from our nation.
|Ragini Gupta said: (May 21, 2020)|
|First of all, thanks for this opportunity.
My point of view about black money is the illegal assets when we are not paying the taxes, or our assets is not in surveillance under the government (income tax). It is a big issue in our country as well as in other countries. We can't say this problem is in only our country. On other sentence is corruption is the main part of this problem. Today black money ' s issues are not only in the individual sector. Politics, business industries. Everywhere it is the main problem.
|Anshoo Singh said: (May 18, 2020)|
|Black money is money earned by illegal resourse. In my opinion, black money is not good for any country.
It is curse for any country.
According to government, low unpaid tax and uncounted money come in category of black money.
If I talk about black money in india, most of politician is engaged in corruption and corruption leads to illegal activities.
Another reason is system of country, system of any country play very vital role in development of any country.
So, if system of any country is not good then it increase corruption.
|Ajay23 said: (Apr 29, 2020)|
|In India, most of the Black Money is in the hands of "Politicians" and "Businessmen". This black money is hidden from the government under their "Benami's". To collapse this black money government recently came with "Demonetization". But as the citizens, we should also make India free of "Black Money" by making all the operations and pays legally.|
|Meer Shahid said: (Apr 19, 2020)|
According to my ideology is to concerned,
Black money means to earn money in an illegal way that is black money.
In our country what is happening, the people from rich background they think we are the best nobody is above then them, in order to control this curb we must take a step towards this, we have to make everyone aware about this, example, educated person, illiterate person, and especially students because they are Nation builders.
|Santhosh said: (Apr 15, 2020)|
|Some of the politicians are having black money in India. These activities are illegal and because of this India is not a republic but this country can be a republic but some of the politicians are hiding the black money which is money to develop India. Those politicians are not good so now India is not a republic country.|
|Chhavi said: (Apr 9, 2020)|
|Black money is a serious problem with us it was the money of unpaid taxes that corrupted all the roots of the country slowly which resultant a very big drop-down in the economy.|
|Manoj said: (Jan 27, 2020)|
|Black money is one of the major issue which is going without a problem. As earlier everyone spoke about it we as an individual must take a step forward for ending this everlasting problem. I could like to finish my discussion by highlighting a sentence "GOVERNMENT DOES NOT CORRUPT PEOPLE, ITS PEOPLE THAT CORRUPTS GOVERNMENT".|
|Aravind said: (Jan 25, 2020)|
|Black money is one of the major problem of any nation.
The money earned through by not paying taxes is termed as black money. The black money effects the growth any nation. The Abolishing of black money is responsible of every citizen by paying taxes on time. Black money not only corrupt nation but also increases sources for other illegal activities in nation.
|Kankana said: (Dec 16, 2019)|
|Black money is a serious problem. Because all the corruption occurs for this black money. Corruption in example unpaid tax, price products increased.|
|Moh Arif said: (Oct 24, 2019)|
|Black money is basically the money which is unaccounted for and is kept illegally. There is a huge amount of black money which is present in India, which causes a lot of issues.|
|Shivam Singh said: (Oct 12, 2019)|
|Black money in India is a serious problem. Corruption occurs at all levels of government and organization structure in the country which affects our country's economy badly. A few years ago, Modi Government launched "Demonetization" that was a noble move to curb corruption but it did not make a meaningful impact and now we need better methods to reduce the use of black money in the country.
We have find ways that do not negatively impact the economy of our country. A beneficial move would be to transition into digital currency which is more traceable and safe too and also environmental friendly. It would not affect the country's economy instead do more good.
Other options could be to increase the satisfaction and incentives of all levels of workers because people usually tend to black money because of financial problems. If they are happier psychologically they would opt for less bad measures. Nabbing criminals like mafias and underworld dons can also reduce black money consumption as they are the major perpetrators of corruption.
To sum it up, if we gradually adopt digital currency and more meaningful changes and take small measures in our systems, the consumption of black money can vanish from the country.
|Hritik Singh said: (Oct 6, 2019)|
|Was a nice expectations from the government point of view but it failed on the large basis and the timing was incorrect too. It shows the worst face of the economic failure of the current government. In the time when farmers if our country had no rains and had less money in the pocket because of draught in the country, our government had to increase the MSP of the country but instead of doing that they banned the 500 and 1000 notes and our economy apparently collapsed due to that and our GDP is no longer stays at the international forum.|
|Deepamala said: (Sep 24, 2019)|
|It's the people who are corrupt. Why they are so greedy that even on seating on the chairs of responsibilities. And getting dignity respect from a citizen of India. Still, they are running out of money through illegal way. It's not the Government which has to change its mindset of the people which has to change.|
|Pawan said: (Sep 23, 2019)|
|Hello everyone, today we are gathered here to discuss the topic of black money.
In my opinion, black money is money earned through illegal activity by not paying taxes on time. This is one of the major reason for corruption in India and Our PM Narendra Modi took a beautiful move by banning Rs. 500 and Rs. 1000 notes. I think this is the best move in politics. Black money can vanish only when every citizen think for a better and clean India. It is the duty for every citizen of India to pay taxes for countries development.
Thank you all.
|Vishnu said: (Sep 8, 2019)|
|Whatever all people said was right.
Even though our prime minister Narendra Modi introduced the scheme banning of 500 and 1000 notes but still the malpractices have occurred during this scheme by many ministers and all.
Most of the middle-class families faced a lot of problems.
I hope in the coming years, the government will take a good step towards eradicating black money in India.
|Mangalsoren said: (Sep 3, 2019)|
|Now that we have understood what is black money, it is important to discuss why this is affecting India adversely. This black money, gives rise to a parallel economy, which affects the transparent transactions which happen through cheques and banks. Black money further leads to malpractices like corruption, bribery, crime etc. Black money in India is also used for funding extremists, which cause a lot of damage to life and property. Hence, black money is something which is corrupting India and dampening its progress.|
|Sumit Kumar said: (Aug 23, 2019)|
|Hello everyone, today we are gathered here to discuss on the topic of black money.
In my opinion, black money is money earned through illegal activity by not paying taxes on time. This is one of the major reason for corruption in India and Our PM Narendra Modi took a beautiful move by banning Rs. 500 and Rs. 1000 notes. I think this is the best move till now in politics. Black money can vanish only when every citizen think for a better and clean India. It is the duty for every citizen of India to pay taxes for countries development.
Thank you all.
|Stephy said: (Aug 13, 2019)|
|Black money is one of the major issue which is going without a problem. As earlier everyone spoke about it we as an individual must take a step forward for ending this everlasting problem. I could like to finish my discussion by highlighting a sentence "GOVERNMENT DOES NOT CORRUPT PEOPLE, ITS PEOPLE THAT CORRUPTS GOVERNMENT".|
|Gopal said: (Aug 6, 2019)|
|Unpaid tax money is called black money or you may say the money that earned by illegal is called black money eg bribe is also a kind of black money. I think that there are a number of professions are in India where people can easily earn black money. Such as in govt offices, police, central govt etc.|
|Sunil Kumar said: (Aug 3, 2019)|
|In my opinion, Black money occurs crime or accident s because a person who earns black money then he will go to the wrong way to earn extra money which is known as black money. Black money creates corruption which is more harmful to every person.|
|Karan said: (Jul 21, 2019)|
|Good morning all, today we are here to discuss the relevant topic of black money in India let us clear about the term what black money is, black money is the money of we all that should be paid to the Government as a form of Tax but it didn't, I really welcome the action taken by our PM Modi to ban 500 and 1000 notes that stunt really raised the first action against corrupt nation Congress from Year's they had looted in the rift, finally, we witnessed a new political era.|
|Sanya Kasaudhan said: (Jul 18, 2019)|
|It's our responsibility to pay taxes timely. Bt many people run from paying taxes and thus carrying black money with them. Even after demonetization, India didn't get the culprit carrying black money because the tax collectors were given bribes and they have hidden the data. If tax will not be paid effectively then black money will keep on growing and India will lack behind in civilization. Most of the private employee doesn't pay taxes as they think rich people should pay this but it's the right of each and every individual to pay tax.|
|Satyadeep said: (Jul 15, 2019)|
|Hi, I am, satyadeep.
Black money is not only a crime, it is like dust spreading in clean water.
If leaders (citizens) are well aware of their country's Future towards sustainable living then no one tries to hide their money.
|Sachin Nema said: (Jul 11, 2019)|
|Hello everyone, According to me, black money is the biggest burning problem in India, It affects the Indian economy and that's why the rupee is falling each day, It is the deceive with our own country and there should be some strict changes in the laws regarding it, Those who are supporters of black money should be kickoff from the country.|
|Gopi said: (Jul 10, 2019)|
According to my view, in our country, digitalisation is a good idea and if we reduce the currency notes like 2000, 500 notes then it will help us because the value of rupee is falling it leads to face a lot of problems for example in past if we pay a hundred rupees to shop keeper he gave us some items and we manage with those items for a few days but now by giving a hundred he does not give a single oil packet the cost of rupee is falling if we remove 2000, 500 and 200 notes and using 100 rupees note then some problems will solve by this way what they are means.
1. No one carries a huge amount in 100s.
2. People make digital transactions.
3. Reduces black money by putting an expired date on every hundred rupees note.
Thank you all.
|Bhavani said: (Jul 9, 2019)|
|Firstly, Modi government banned the notes for the sake of decreasing black money in our country but, it doesn't work. The government provided strict rules to pay taxes for the particular business and etc. Not only government, every citizen has responsible for the developing Indian Country soo, we should have obey the rules.|
|Ambika said: (Jun 27, 2019)|
As we all know that we are discussing Black monkey. Firstly I will tell you in my way! What is black money? I think black money is illegally earned money or another way the money which is earned through illegal activity. Black money is used by the rich in various evil activities.
India also earns black money. It is illegal that's why our Country Today is developing the country.
Black money is a curse. It must be rooted out of public life.
|Bharath said: (Jun 27, 2019)|
|The first govt should ban all offline money and explain about online transaction even for 1 or 2 rupees also do in online only. They we can get uncorrupted India if this was not implemented we can never say that "India is developed country" after 10000 years also we say "INDIA is developing the country". I think so India never gets developed.|
|Mukesh Raj said: (May 27, 2019)|
As we all are discussing black money in India so I want to tell you all guys what is black money? Black money is that when a person earns money form illegal work and hides his money from govt for not paying tax is called black money this is the reason that India is under development and facing many problems and only some people are not doing such but also we all are doing because some of us also not paying tax so having money over limit we should pay tax.
We should help our country it is not the only the responsibility of govt we should also participate in help of country.
Thanks a lot.
|Swapna Rani Lenka said: (Apr 30, 2019)|
|First of all, its our responsibility to help our government Our generation can only make a big change in the exposing of the person who involves in illegal work like black money.|
|Anuj said: (Apr 11, 2019)|
|Very good morning friends.
Let us start with the discussion and topic is black money. We should remove corruption around us. First of all, it is our responsibility that we give our tax to help the government for developing country.
|Anjali Mathe said: (Mar 25, 2019)|
|Illegal Income earned from black market is called black money. Such income is concealed from taxation. Since 2011 Indian media reported Rs 90 lac corer, also mentioned in the writ to the Supreme Court, is deposited as black money in tax haven countries like SW, UAE, Hong Kong.
Some of the main sources of black money are gold, land, and heavy money deposit aboard.
In the 2011 election, many political parties including BJP has written in its manifesto to bring back the Black Money in India.
As per the India media report, Indians hold the biggest share in Swiss banks however Swiss bank officials denied the Indian media reports.
Since 2016 after the Panama leak, many names have surfaced and the Indian government assured to take action against them.
However, to date, we have not seen any arrest in this connection. Neither any official data is released for the amount of black money. But as an Indian citizen, looking to the development of our country, and disproportionate income we can say yes Indian politicians, sportsperson, Bollywood stars, the business person do have black money.
We at our level can report the bribery cases and the slow working rate in official work.
|Alveera Ansari said: (Mar 21, 2019)|
|We all know that in India all rich people becomes richer day by day because they do not pay taxes and they do illegal works to earn more money. They want more money and to become more richer then they do illegal works.
When rich person will pay taxes on correct time then he will also help poor person. The reason is that the extra money of rich people will be use by poor people then poor people becomes financially good and also all taxes will pay by rich people.
|Sanjay said: (Mar 20, 2019)|
|Black money is one who did not pay the tax correctly. Black money plays a major role to decrease the country development. Farmer is backbone of our country. But youth are the future of our nation. Every person should feel India is not ourcountry and it's a home and we are the family members. So, we have to develop our country to reduce these black money and corruption.
Develop some of the schemes to reduce the black money. Day by day poor man becomes very poor but rich man becomes richer because of incorrect tax payments.
In India, most of the persons are lower middle class. They paid the taxes correctly. Most of the persons in higher positions didn't pay their taxes, because they are richest and no one can handle them. So please find such people. Even we find 10percent people and to paid taxes correctly, then we will be in a higher position. On that time we proudly say India is a developed country.
|Priyanka said: (Mar 19, 2019)|
|* Earning money by the illegal way that is back money. Black money is example of corruption.
* Black money is a kind of illegal activities done by a corrupted person and is the way to gain money in unwanted works.
* The black money is accumulated by the criminals, smugglers, hoarders, tax-evaders and other anti-social elements of the society.
* Black money is the main problem of India. Which makes weak of the India.
* In my opinion, black money is basically rich people don't pay taxes on time and also hides a huge amount in their houses and also some people hide their money in foreign countries. The government don't get taxes on time so it increases the cost of needy things and poor people have to suffer.
* The root cause for the increasing rate of black money in the country is the lack of strict punishments for the offenders. The criminals pay bribes to the tax authorities to hide their corrupt activities.
* In my point of view, the main reason for black money is only a middle-class people paying tax properly but some rich people do not pay tax correctly that mean they keep money in their home or invest in out side country.
* So people have to submit their taxes on time so that no can suffer.
|Haindhavi said: (Mar 17, 2019)|
|Black money is a kind of illegal activities done by corrupted person and is the way to gain money in unwanted works.|
|Amit Yadav said: (Mar 16, 2019)|
|Yes, Of course, this black money should be banned and if anyone sees the exchange of money they have to immediately respond to government officers. Making one rule the black cooprated persons have to get serious or strict punishment. Because they are a victim of an increase in taxes.|
|Shalabh Saxena said: (Mar 7, 2019)|
|The portion of a country's income that is tied to its black economy affects the economic growth of the country. Black economy constitutes a financial leakage since tax income from unreported earnings is not received by the government, thereby, serving as a loss of revenue to the government. In addition, since these funds rarely enter the banking system, economies are stifled, as money remains hidden that otherwise could be used by banks to stimulate the economy by funding small business owners and entrepreneurs. In addition, black money causes the financial health of a nation to be underestimated.
|A.K.S. said: (Feb 22, 2019)|
|Black money is the main problem of India. Which makes weak of the India. It makes weak of India because many peoples of India keeled the illegal money so India is not repaying loan of other country.|
|Sourabh said: (Feb 10, 2019)|
|In my opinion, black money is basically rich people don't pay taxes on time and also hides a huge amount in their houses and also some people hide their money in foreign countries. The government don't get taxes on time so it increases the cost of needy things and poor people have to suffer. The government need taxes for the repair of roads and streets and for development of India. So people have to submit their taxes on time so that no can suffer.|
|Sanjeev Singh said: (Jan 22, 2019)|
|In India, black money is funds earned on the black market, on which income and other taxes have not been paid. Also, the unaccounted money that is concealed from the tax administrator is called black money. The black money is accumulated by the criminals, smugglers, hoarders, tax-evaders and other anti-social elements of the society. The root cause for the increasing rate of black money in the country is the lack of strict punishments for the offenders. The criminals pay bribes to the tax authorities to hide their corrupt activities. Thus, they are rarely punished by the judge. The criminals who conceal their accounts from the government authorities include big politicians, film stars, cricketers, and businessmen. Some Indian corporations practice transfer mispricing, by under-invoicing their exports and over-invoicing their imports from tax haven countries such as Singapore, UAE, and Hong Kong.|
|A.Deepika said: (Jan 22, 2019)|
|Hai everyone I am Deepika,
Black money is one who did not pay the tax properly to the government. Most of the richest persons have much black money other than the white money. It is a illegal one. Such persons are respond to severe punishment. Then the government can't able to provide any suffecient offers for people. These will affect only the middle class and poverty peoples. Black money develop the richest persons going to rich and down the poor peoples going to down. So, avoid using Black money and paid the tax regularly. This will make our country to good and also we should provide the sufficent process to the poor peoples. It will make the poor people to get good development in our country.
|Veeramani said: (Jan 19, 2019)|
|Hi everyone my name is Veeramani.
Black money is one of the main issues faced by India. Black money also destroy the development of the country. In my point of view, main reason for black money is only a middle class people paying tax properly but some rich people do not pay tax correctly that mean they keep money in their home or invest in out side country. So, we for getting about past, we are the future of India, so do our work properly and don't expect extra money for work and follow the rules and regulation of govt.
|Gaurav Shukla said: (Jan 10, 2019)|
Today India is a developing country. But due to black money, India is a corrupt nation in the world. After stopping the 500 and 1000 note to come positive results in India but due to political reason does not have any big effect. I think if we want to stop the black money fastly in India then we have to need to stop the printing of big currency in India.
|Akash Thapa said: (Dec 20, 2018)|
|Black money is like the insect for our country who continue to destroy our country growth. The rich people do not submitted taxes in time and keep huge amount of money in their house. When govt not get tax amount they have rise the price of needy item and poor people have suffer. Rich people keep their money also in foreign countries. If every people of India submitted their money in time India become one of the developed country very soon. But no one do their duty. Shame on them. The road, Light and other needy fields still need money but govt haven't money to fix them. Because of people irresponsibility.|
|Madhu said: (Dec 14, 2018)|
|Hi every one.
In my point of view this is one of the reason for India to be still devolping nation. By doing illegal activites and earning black money rich people are becoming more rich poor people very very poor. There must be a change. Even after banning of 500, 1000 there is no change. Political leaders must change and even every individual must change to make India as a black money free nation.
|Rekha said: (Dec 14, 2018)|
|If rich persons pay tax to the government that amount is used for other any reservation policies which is useful to all kind of person this is the best way but when government do the such policies and release amount that amount is not reach fully to the user's because the mediator (maybe government employees or politician or any other persons) take the maximum percentage of total amount indirectly and minimum amount will reach to user after spending time and money to take any kind of reserved policies of government. So, instead of paying taxes if the rich people are kind hearted my wish is they have to do the help to needy persons may be poor or any other direction and he has maintained a document for this type of work to show to the government if they ask tax.|
|Akram said: (Dec 9, 2018)|
|Good morning everyone.
Today our topic for discussion is black money in India. The black money is the money that is earning from illegal action. The reacher person cannot pay tax to the government of India. For the development of a country required some source of earning which comes from tax from reacher person and foreigners company that is established in India and taking the tax on foreigners item. In India, the Real situation is that the most of the reach person store their money in the house to avoid the tax, due to such kind of nature the reach person becomes reacher and poor people becomes poorer day by day. Result decreasing India's economy day by day.
|Rohit Sharma said: (Dec 1, 2018)|
|Now a days black money is increasing very fast in India. If Government will not take action on black money, India never develops like other country. So, it is important to take serious on black money.|
|Bireswar Adhikary said: (Nov 24, 2018)|
|The money which comes from illegal action is called black money. It makes rich person richer and poor person as poorer. India is 7th largest country of the world. i.e. a huge country.
So it is not possible to completely wash out black money by any minister or president.
|Abhishek Rautela said: (Nov 19, 2018)|
|Many people in our country find different types of tactics to save income tax. It's our moral duty to pay the taxes because we are citizen of this country. Without having money govt are unable to do the development work. Due the black money, govt have to rise the prices of the necessary good. Rising prices of essential goods, it effects the pocket of the middle class and lower class family. Due to rising prices, they are unable to full fill their basic needs. People should realise that thing that it's our moral duty to pay the tax and not hide our actual income then the change will come.|
|Rohit said: (Nov 5, 2018)|
|It's well known that earning money through illegal ways will be termed as "Black Money".
It important to understand that why people prefer the illegal channels to earn or make deals, its because the tax and financial laws prevailing in the country are too stringent, complex and public doesn't want to pay to government as they lack trust in its working and expect no proper returns, like no proper police reforms, bad roads and drainage system, poor infrastructure, lack of employment, poor healthcare etc.
The other reasons might also be over taxation which is quite evident from the prevailing petrol prices in the country. Over taxation will always lead inflation and hence less revenue generation as it reduces the consumption of products and services.
Further to add on these complex laws are creating an illegal parallel economy in the country which will only affect negatively on the treasury of the government.
It's time for governments to realize this and implement a transparent, balanced, simplistic, financial and tax laws in India.
|Himaja said: (Nov 3, 2018)|
|Black money is money earned through illegal or legal source and not paying tax for that. So that revenue of the govt is decreasing as of that inflation occurs so that lower and middle class people suffers a lot. Because of black money rich becomes richer and poor becomes poorer, if every working individual pays tax India would be a leading country in the world where free and sophisticated education is given to everyone and poverty can be decreased to some extent.|
|Santosh said: (Oct 28, 2018)|
|According to me, first, we should honest after blame to other we are not seeing ourself maximum people educated yet they do not pay tax.|
|Golla Ajay Krishna said: (Oct 24, 2018)|
|It will effect Indian economy in relating to growth. Rich people will become rich and poor people will become poor.|
|Charu said: (Oct 18, 2018)|
|Earning money by the illegal way that is back money.
There is a two type of money Frist is black money and the second is white money.
White money is earned by the legal way. White money is to pay the tax of government all type of tax. Government use the tax for developing the country.
Black money is earned by the illegal way like most of the people are not paying the tax. The black money is earned by in the form of land, bike, house and etc.
In the research, the government find many people's are saved there black money they opened their account in foreign banks and lots of India currency is deposited in the foreign bank. That is not good for our country.
The prime minister Modi Ji take action against black money they changed the note of 500 hundred or 1000 in 2016. This action is very good for retrieve black money.
Black money is earned in many ways this is not good for our country and also not good for poor people they face many struggles every time anywhere. They are not good enough for paying black money.
The government has tack more action against for black money.
|Chitra said: (Oct 7, 2018)|
Avoid black money in India we are using digital currency. Because businessman correctly pays for tax in government. So stop the black money, We use the white money. We are creating great & wonderful India.
|Umesh Shinde said: (Sep 29, 2018)|
Black money is a collection of money which comes from the bad jobs. Nowadays corruption is increasing day by day. Specially.
It occur in the politics and also other field like sports. It can be reduced by creating a law.
|Pravin Gandhi said: (Sep 29, 2018)|
|Black money makes the richer men richer and poor people as the poorest.
So black money should not be reduced it should be avoided.
|S.Singh said: (Sep 29, 2018)|
|Good morning friends,
I am discuss about 'Black money in India'. I start this topic. People are seen that every department is hungry for money which corruption increases. Black money is example of corruption. That is increasing day by day. Black money is that money which government is not got form tax by people. In India 80% people belong to middle families and poor families, these people do give the tax the government and 20% people these people do not pay the tax that is poison for economic of our country. It is the reason that economic growth is not increasing.
|Vipin Malakar said: (Sep 25, 2018)|
Black money is unaccounted money many people of India don't pay Tax and dial each other without pay tax and also the helped government employee, politic leaders and also police to behave of some bribe because of this govt is not able to implement of the country and poor people are not able to get benefits.
Demonetization is good action agents the corruption.
So, we have to stand agents the corruption.
|Hanuman said: (Sep 25, 2018)|
|Black money is a great problem in India. It is increasing day by day in India. It's main cause is corruption, bad politics. Human thinks that if he gets more and more money than he will become happy in his life and he will not sad in his life. The human becomes greedy day by day. So we should control this problem, choose a right government, thinks about our poor people.|
|Dhiraj said: (Sep 23, 2018)|
What is mean by black money?
Black money is the part of person who don't pay the taxes from earned income. In society as many of peoples including politician, industrialista and business are doing this same because they want to be save from the pay taxes. Because of this our country growth is going decreases. In many of gov sector still they are sought of money from people to terminating their deed and work. So it's not fault of government its fault of every single person who gives the money to corrupt officer to terminating their work. Black money still exsit in country.
|Ajithkumar said: (Sep 19, 2018)|
|Black money is very dangerous poison for economics. So we will support and destroy the black money.|
|Rin R said: (Sep 17, 2018)|
|Black money is something that can't be obliterated till transparency comes into existence in every part of governance. We just can't put all the blame to our politicians. We do have some responsibility in reducing black money. Not only the government but also we people have to be transparent about our property. We must pay the taxes properly before blaming the government. The root cause of black money is corruption. So to eradicate black money and its effects on the country's economy we have to first counter the deep spread corruption. If every citizen of India first sincerely protest corruption then there is a hope. That means we will neither go in the path of corruption nor allow anyone to do corruption. To realise this a effective literate and participative society is required.|
|Mohit Ram Satnami said: (Sep 15, 2018)|
|In my point of view, Black money is the danger for our country it reduces economic growth.|
|Shivani Khandelwal said: (Sep 9, 2018)|
|In my view, according to Reserve bank of India statistics, 99.3% of 500 & 1000 rs notes have collected intended the results that the aim of demonetization have not completed, still, there is an existence of black money in India and the reason behind that is an unpaid tax, money laundering act guidelines etc.|
|Monisha said: (Sep 7, 2018)|
|I want to add on this, as we see there is corruption everywhere. Black money is all about this. All leaders, politicians and all big people have black money.
As, jio is being a trap of removing the black money when demonetisation was being about to applied. All big business icons have black money. And the middle class n lower class people suffers because of this.
|Hari Krishna said: (Sep 4, 2018)|
|Black money is an act which indirectly put our nation downward. Also, degradation ourself for being a part of our country.|
|Ranjeet Rana said: (Sep 3, 2018)|
|There are large sources of black money the major source is corruption in everywhere. This can be regulated to transparency in every government projects and need to check the bank account and the properties of politicians, officers. So, we can say the overall conclusion is that stop the corruption and welcome the transparency at work.|
|Shubham Sahu said: (Sep 2, 2018)|
|According to me, the Indian economy grows faster because it gives transparency in the system. As the customer will know how much tax they are given in government of India but when the black money concpet come all the meaning of giving taxex is reduced.|
|Payal said: (Aug 31, 2018)|
|Black money is that part of a person's income which he/she earns by not paying tax to the government. So, the black money is earned from legal sources but people don't want to part it as it is their hard earned money. Before demonetisation, in India there was another economy called parallel economy. People evaded taxes as much as possible and t was possible for them to do so because there were multiple taxes imposed. But after demonetization, a large amount of black money has come back to the government as people tried to get rid of the cash they holded by depositing it in bank. GST has made India one tax nation and all the procedures of filing IT return to paying taxes has become transparent. So, people cannot evade taxes. Thus, it can be said the quantum of black money has reduced but not completely cleaned.|
|Md Azim said: (Aug 30, 2018)|
|There are a lot of black money in our country. But I want to ask some questions with government. Whose is black money. Are this poor man, farmers, employees and students. Everyone want to know about it. I would like to say that every leader and officer has black money. We are laborious Indian man. We don't have black money. And we don't know about black money, What is black money?|
|Asha Devisetty said: (Aug 28, 2018)|
|Due to our support only politicans are becoming illegal in our country. If politicians are corrupting our country, we simply watching. Not even any person ready to take stand because we only electing the person for every 5 years. How many passed India became only developing country. Without food so many people are servering but our Indian politicians are not ready to support our society they just need money not humanity. So, India has black money.|
|Sonu said: (Aug 21, 2018)|
|I agree, for the existence of black money there is a major contribution of politicians and big industrialists.
The central government gives money to them for development of undeveloped areas or areas which need to develop but this middle person i.e. politicians and their contractors grab a large amount of money for their sake. Remaining little bit is given to work to display the place like developed.
Later their grabbed money becomes their black money.
|Raj said: (Aug 20, 2018)|
|Black money reduce our economy rate and that's why until this is developing country.|
|Sanu Raj said: (Aug 18, 2018)|
|Black money, a huge restrictor in the development of any country. It is the property which is earned by unfair means or illegal in the eyes of the government.
Black money has different faces, either in the form of gold, currency, foreign deposits, market shares or land. Some criteria are fixed for paying taxes inside the country but people do not follow it. Many businessmen hide their actual income in order to escape from taxes any keep their income as black money.
Corruption is also a big factor behind it. Recently, Panama papers leaked the big name whose black money is deposited in the Swiss bank.
In past years, the government has imposed GST and bring demonetization to take out black money and restrict it in India.
|Snehalata Behera said: (Aug 13, 2018)|
|In our country the many political people also many industrialists have plenty of black money. The middle class and poor people were facing so many problems for this. Due to this black money, no development occurs in our country. Price of every product increased gradually cause they should not deposit their income tax at the proper time. So poor people's became poor and reach became get reach.|
Black Money in India
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