Black Money in India

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.

Thank you!

Hello everyone.

My name is Rajdeep Kumar.

Today the given topic is black money.

I want to tell you what is black money. black money means that people earn money which comes from illegal work and hide from the government and don't pay taxes, is called black money.

This is a big problem for our country.

That's why India is not a developed country, if you don't pay taxes it will destroy our GDP growth.

There are so many people in India who have black money that's a big reason why richer became richer and poorer became poorer. The government took a good decision Notebandi in India it reduces black money.

Conclusion: In my opinion, black money is a big problem in our country, because of black money our GDP growth is decreased, a cashless economy is a good initiative to decrease black money because of cashless economy and last I would like to say that government should take a strict decision against black money.

Thank you, everyone.

Jai Hind.

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.

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.

Let's begin with our country.

Nowadays black money spoils the total growth of our country including our routine economy also instead of killing us. Compared to other countries India has the largest population it's the main reason for the corruption now. Because the black money is hidden in the population the corrupt people's hide the huge amount of black money in the huge population.

They didn't pay the taxes.

They hide their income.

They created the fake documents to avoid raid.

They think it's not necessary to pay taxes regularly.

Some of the political powers, officials in their hand that's why they live like that. But they didn't care about our nation growth across the world economy level.

The solution for black money corrupting government Should take severe actions to who are handling it then block their money it's will helps to black money corrupting in our Nation.

Thanking you.

Hello everyone.

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.

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.

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.

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.

Thank you.

Hii everyone!

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.

Thank you.