Question

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Answer 1

Explanation:

PLASTIC MONEY HELP IN REDUCING CORRUPTION, FAKE CURRENCY AND TAX EVASION:-

How does Plastic money help to reduce tax evasion:-

When money is transacted from one person or an organization to the other using plastic money then it is recorded. Hence when income is received by the person or organization, then that income amount is always recorded. Every time the person or the organization receives any amount of money, it is recorded and so the total income of the person or the organization is known to the income tax office. And the tax that is required to be paid by the person or organization is also calculated and so he or she cannot escape from paying the tax and hence in this manner plastic money creates a pressure on the person or the organization for the prevention of tax evasion.

Answer 2

Answer:

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