WHAT IS MEAN BY BLACK MONEY
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Answer:
income illegally obtained or not declared for tax purposes
Answered by
1
Answer: income illegally obtained or not declared for tax purposes.
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 .
That is, black money can come from two broad categories: illegal activity and legal but unreported activity. The first category is the more obvious of the two. Money that is earned through illegal activity is obviously not reported to the tax authorities, and so is black.
Explanation:
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