What is white paper on black money?
Table of Contents
What is white paper on black money?
The “White Paper on Black Money” presents the different facets of black money and its complex relationship with policy and administrative regime in the country.
What is black money write the causes of black money?
The increase in prices of commodities like petrol, etc., in international market, increase in prices of commodities due to high increase in duties and taxes imposed by the government, conspicuous consumption indulged in by people with unaccounted money, diverting resources from production to speculation—all these cause …
How do you make black money into white Quora?
Here is how they do it:
- Fake Bills: Fake bills are issued to the clients for which the client pay through bank.
- Loans: Clients pay in cash and then CA issues them loans from “entry” companies and NBFCs.
- Capital in Company: They create “entry” companies in which they deposit cash from people like peon, washer-man etc.
How is black money calculated?
If that 40\% cash component is not reported to the Income Tax Department, then it is black money. A large number of small shops around the country almost exclusively do business in cash without receipts. All of this could potentially be black money.
Why the term black money came into usage?
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 total amount of black money deposited in foreign banks by Indians is unknown.
What are the sources of black money?
The most common source of black money is the black market or underground economy. Activities in the black market may include selling prohibited drugs, gunrunning, terrorism, and human trafficking.
Where can I invest black money Quora?
Most black money in India is invested in real estate, educational institutes, gold and NGOs (yes – many NGOs launder money. If a person needs black money for buying property, many NGOs will take a cheque as donation and return cash).