Black Money in India

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.

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.

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.

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.

It will effect Indian economy in relating to growth. Rich people will become rich and poor people will become poor.

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.

Hi friends,

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.

Thank you.

Hello everyone.

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.

Black money makes the richer men richer and poor people as the poorest.

So black money should not be reduced it should be avoided.

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.

Thank you.