black money essay

500+ Words Essay on Black Money. Black Money is the money on which income tax is not paid. This money is earned through corrupt practices and not declared fearing legal action. Black money is collected by corrupt officials, politicians, businessmen, criminals, smugglers and any other individual trying to evade taxation.

500 Words Essay on Black Money Introduction. Black money refers to funds earned on the black market, on which income and other taxes have not been paid. It is a significant economic issue, affecting the growth and development of nations. The problem of black money is prevalent worldwide, with severe implications for developing countries like India.

Black money is money which is earned through any illegal activity controlled by country regulations. Black money proceeds are usually received in cash from underground economic activity and, as ...

Smuggling, illegal transport of drugs and corruption are also major fields in which black money can be seen. Recently, Prof. Arun Kumar of Centre for Eco­nomic Studies, Jawaharlal Nehru University, Delhi has authored a book on black money in India (1999). He holds that black economy is equiva­lent to 40 per cent of the GDP out of which 32 per ...

Long Essay on Black Money. In this essay on black money, many important points can be covered like the effects, both advantage and disadvantage and how one can handle this problem. In any country, it is important to have laws that monitor and ensure the growth of the people along with the growth of the country. One such law is the tax law.

Long Essay on Black Money 500 Words. Black Money is the Money that is associated with corrupt and illegal practices, trade, and business. It is accumulated in large amounts to evade and avoid the liable income tax. Black Money hinders a nation's growth in the economic sector. Despite it being an immoral asset, many politicians, people in ...

Black Money Declaration Scheme 2017 - This scheme was recently launched by the government headed by Mr Modi. This scheme enabled the black money hoarders to declare their whole illegal income and gave them the time limit to declare it till 31 st March 2017. In this scheme, everyone was allowed to disclose their illegal income either with the ...

Problems of Black Money. Even after 40 years of independence, our country is faced with poverty and numerous economic ills. Even though socialistic pattern of society has been accepted in the constitution, our country is far away from socialism and her economy is in the grip of private enterprises. In fact, India has unlicensed economy which ...

Blog. Essay on Black Money: A Curse to Nation. September 18, 2022September 17, 2022by Abhishek Singh. Estimated reading time: 10minutes. The fight against black money has been a long and difficult one for the Indian government. Despite various crackdowns and awareness campaigns, the problem persists. In this essay, we will explore the reasons ...

Long Essay on Black Money. Black Money - It is the money earned through unlawful activities. The illegal money earned in a massive amount is hidden and not affirmed for income tax purposes. Black money is earned in the course of corrupt practices. Many cowardly politicians, inhabitants in business, smugglers, individuals, etc., have power ...

Black Money refers to funds earned on the books but concealed from the tax authorities. The generation and circulation of black money is a serious problem for the economy. It deprives the government of tax revenue and generates inflationary pressures. It fosters corruption and illegal activities. Clamping down on black money requires regulatory ...

Black Money. Black money is the money that people earn with corruption. For your information corruption involves the misuse of the power of high posts. For instance, it involves taking bribes, extra money for free services, etc. Corruption is the main cause of the lack of proper growth of the country. Moreover, money that people having ...

Black Money. Essay No. 01. Of the total supply of money in circulation, black money accounts for a sizable percentage. What is this 'black money? Black money means unaccounted money, concealed income, and undisclosed wealth. This money is not in any way helpful to society. It deprives the nation of the funds required for its development.

Essay on Black Money Essay 300 words. Black money is basically the money earned in black market. It is the amount which is hidden from the government so as to avoid taxation on the same. The accumulation of black money has several negative repercussions on the society with economic and social disparity being the major ones.

Black money essay 10 Lines (100 - 150 Words) 1) Black Money is the hidden money that remains out of reach of tax authorities. 2) The money for which people don't pay tax is considered black money. 3) Black money is not good for the country's economic development. 4) India ranks among the highest countries with black money in the foreign ...

Paragraph On Black Money - 100 Words for Classes 1, 2, 3 Kids. Black money is the money that is unrecorded in the tax department and concealed from the tax administrator by the owner of that money. In India, black money mainly aids and funds the black market that is a centre of fraudulent and illegal activities.

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Black Money - Indian Economy for UPSC Exam. Click to Read More on Black Money in India, its Sources, Volume, and Measures taken by GOI to Curb Black Money. Download PDF. Clear UPSC 2023 with BYJU'S.

In India, black money is funds earned on the black market, on which income and other taxes have not been paid. ... The 2016 Panama Papers scandal is the largest-ever leak of information on black money in history. [31] International Consortium of Investigative Journalists first obtained the leaked information, revealing over 11 million documents ...

Black Money Essay - 1 (200 words) The problem of black money is not new to our country. Money generated via various illegal sources and the attempt to hide it from the government for the purpose of tax evasion has been a common practice here. The problem of black money has given rise to a number of other issues in India.

The quantum of black money circulating in the Indian economy is at least 6.6 per cent of the GDP which now would be in the range of Rs 70,000 crore. However, a Parliamentary Standing Committee on Finance quoted unofficial estimates of black money at Rs 1,10,000 crore in 1994-95.

Black Money Essay - 1 (200 words) The problem of black money is not new to our country. Money generated via various illegal sources and the attempt to hide it from the government for the purpose of tax evasion has been a common practice here. The problem of black money has given rise to a number of other issues in India.

Why in News. Recently, the government has said in the Parliament that Rs 2,476 crore has been collected as tax and penalty under the one-time three months compliance window during 2015.. It has also been said that there is no official estimation how much worth of black money is lying in foreign accounts over the last five years.; Total undisclosed credits amounting to Rs 20,353 crore have been ...