Black Money in India

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.

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.

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.

Thank you.

Hi, everyone.

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.

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.

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.

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.

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.

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.

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.