Black Money in India

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.

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.

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.

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.

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.

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.

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.

Black money is a kind of illegal activities done by corrupted person and is the way to gain money in unwanted works.

* 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.

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.