Black Money in India

We all know that in India all rich people becomes richer day by day because they do not pay taxes and they do illegal works to earn more money. They want more money and to become more richer then they do illegal works.

When rich person will pay taxes on correct time then he will also help poor person. The reason is that the extra money of rich people will be use by poor people then poor people becomes financially good and also all taxes will pay by rich people.

Illegal Income earned from black market is called black money. Such income is concealed from taxation. Since 2011 Indian media reported Rs 90 lac corer, also mentioned in the writ to the Supreme Court, is deposited as black money in tax haven countries like SW, UAE, Hong Kong.

Some of the main sources of black money are gold, land, and heavy money deposit aboard.

In the 2011 election, many political parties including BJP has written in its manifesto to bring back the Black Money in India.

As per the India media report, Indians hold the biggest share in Swiss banks however Swiss bank officials denied the Indian media reports.

Since 2016 after the Panama leak, many names have surfaced and the Indian government assured to take action against them.

However, to date, we have not seen any arrest in this connection. Neither any official data is released for the amount of black money. But as an Indian citizen, looking to the development of our country, and disproportionate income we can say yes Indian politicians, sportsperson, Bollywood stars, the business person do have black money.

We at our level can report the bribery cases and the slow working rate in official work.

Very good morning friends.

Let us start with the discussion and topic is black money. We should remove corruption around us. First of all, it is our responsibility that we give our tax to help the government for developing country.

Thanks.

First of all, its our responsibility to help our government Our generation can only make a big change in the exposing of the person who involves in illegal work like black money.

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.

The first govt should ban all offline money and explain about online transaction even for 1 or 2 rupees also do in online only. They we can get uncorrupted India if this was not implemented we can never say that "India is developed country" after 10000 years also we say "INDIA is developing the country". I think so India never gets developed.

Hello friends.

As we all know that we are discussing Black monkey. Firstly I will tell you in my way! What is black money? I think black money is illegally earned money or another way the money which is earned through illegal activity. Black money is used by the rich in various evil activities.

India also earns black money. It is illegal that's why our Country Today is developing the country.

Black money is a curse. It must be rooted out of public life.

Thank you.

Firstly, Modi government banned the notes for the sake of decreasing black money in our country but, it doesn't work. The government provided strict rules to pay taxes for the particular business and etc. Not only government, every citizen has responsible for the developing Indian Country soo, we should have obey the rules.

Hi friends,

According to my view, in our country, digitalisation is a good idea and if we reduce the currency notes like 2000, 500 notes then it will help us because the value of rupee is falling it leads to face a lot of problems for example in past if we pay a hundred rupees to shop keeper he gave us some items and we manage with those items for a few days but now by giving a hundred he does not give a single oil packet the cost of rupee is falling if we remove 2000, 500 and 200 notes and using 100 rupees note then some problems will solve by this way what they are means.

1. No one carries a huge amount in 100s.
2. People make digital transactions.
3. Reduces black money by putting an expired date on every hundred rupees note.

Thank you all.

Hello everyone, According to me, black money is the biggest burning problem in India, It affects the Indian economy and that's why the rupee is falling each day, It is the deceive with our own country and there should be some strict changes in the laws regarding it, Those who are supporters of black money should be kickoff from the country.