Write an article on black money in india
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black money in india
We know that black money is big problem owr country ...
by this step owr country economy is very down
We know that black money is big problem owr country ...
by this step owr country economy is very down
Answered by
6
Black money is undisclosed or unaccounted money on which income tax is not paid. This money is thus "INVISIBLE" to the government.
India has a tax slab. People earning more than this amount need to pay income tax to the government. This amount need to be disosed during Income tax filing. When income tax paid on salary, it becomes white money.
Black money deprives the goverment of income tax. This is a great loss as black money exists in thousands of crores in India and in foreign banks such as Swiss Bank. Government does not get crores of income tax that can be used for the benefit of our country. Black money is stored in the form of cash eveywhere -- from pillows to mattresses to sofas. This money is stored in 2000 rs. notes as it is the highest note in India.
Since black money is stored in the form of large currency notes, government of India announced on 8 November, 2016 at around 8:15pm that fron 12 midnight, all the 500 and 1000 rupee notes will be banned and put out of use. This made black money holders to remkve their black money and disclose it to the govt. Dont say thanks. Mark as brainliest, please.
India has a tax slab. People earning more than this amount need to pay income tax to the government. This amount need to be disosed during Income tax filing. When income tax paid on salary, it becomes white money.
Black money deprives the goverment of income tax. This is a great loss as black money exists in thousands of crores in India and in foreign banks such as Swiss Bank. Government does not get crores of income tax that can be used for the benefit of our country. Black money is stored in the form of cash eveywhere -- from pillows to mattresses to sofas. This money is stored in 2000 rs. notes as it is the highest note in India.
Since black money is stored in the form of large currency notes, government of India announced on 8 November, 2016 at around 8:15pm that fron 12 midnight, all the 500 and 1000 rupee notes will be banned and put out of use. This made black money holders to remkve their black money and disclose it to the govt. Dont say thanks. Mark as brainliest, please.
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