WebGovernment took various steps about the problem of Black money. The main aim of this research paper is to know how it is generated, committees and report of black money. This paper represents the framework, policy options and strategies that Indian Govt. should adopt to tackle with this issue and also describes various measures taken by Government. 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, and tax-evaders. Around ₹22,000 crores … See more 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 … See more The 2016 Panama Papers scandal is the largest-ever leak of information on black money in history. International Consortium of Investigative Journalists first obtained the leaked … See more The Economic Times reported that Indian companies as well as politicians routinely misuse public trusts for money laundering. India has no … See more In early 2011, several reports in the Indian media alleged Swiss Bankers Association officials to have said that the largest depositors of illegal … See more In February 2015,balances for the year 2006–07 in HSBC's Geneva branch. The list was obtained by French newspaper Le Monde and … See more From 2011 to 2014, the BJP included the return of Indian black money in their manifesto. In speeches, their prime ministerial candidate See more Noted jurist and former law minister Ram Jethmalani along with many other well known citizens filed a Writ Petition (Civil) No. 176 of 2009 in the Supreme Court of India (SC) seeking the court's directions to help bring back black money stashed in tax havens abroad … See more
Essay on Black Money for Students and Children
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Effects Of Black Money On Indian Economy - 1679 Words Bartleby
WebThe inadequacy of the powers given to the tax enforcing authorities is another important cause for black money. 9. Weak Deterrence encourages black money. Despite of adequate legal provisions to curb the growth of black economy in India, it has persisted because of weak deterrence against tax evasion in practice. WebPresence of corruption, black money, counterfeit currency, poor governance etc. promotes and establishes parallel economy. Parallel economy is nothing but functioning of unsanctioned sector in the economy whose purpose is to evade tax. This is popularly known as illegal economy, unaccounted economy; tax evaded economy or black … WebEven though tax rates and controls have been drastically reduced in India, the black economy has continued to flourish. It has been argued that if the black savings … open concept floor plans with inlaw suite