Black Money in India

Hello everyone.

I am Abhit, today we are here to discuss black money in India.

The main source of black money is the black market. Black money is that which is earned by illegal means or without paying of the tax. A large no. Of Indian deposits black money in Switzerland banks about $1trillon. So many business people store a large number of commodities at their store place, and after some time, when there is a deficiency of these commodities, they sell these at a very high rate. Black money is collected by a smuggler, criminal and politicians. Black is a big reason for poverty and corruption. A good step had taken by the government in 2016 in form of demonetization. Thanks.

Black money is a main cause of Corruption. Corruption starts from black money. Black money is illegal money. It affects especially poor and middle class family because they have to pay bribes for every small work. They give bribes because they have a fear to pending theri work.

So I think, we and only we are responsible for black Money. Today it is a serious problem for our nation. It is a curse for our society.

I think, there is only one reason of black money that every one wants to become more and more wealthy. They consider money as the most important thing in life.

It can be reduced only the better afforts by the government as well as every person.

Thank you.

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.

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.

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.

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.

Thanks.

Hello guys.

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.

Hello everyone.

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.

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.

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.