In this essay we will discuss about the Black Money of India.
Select Page Black Money Essay Black money is basically the accumulation of income obtained illegally. It is not declared for tax purpose. The issue of black money is prevalent in India and the government has come up with stern measures to deal with it lately. The money earned via unlawful means is known as black money.
There are various sources of generating black money and people have been practicing these since decades despite the negative impact they have on the society. Long and Short Essay on Black Money in English Here are essays on Black Money of varying lengths to help you with the topic in your exam, class tests or competitions.
You can choose any Black Money essay according to your need and interest: Black Money Essay — 1 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. Apart from the impact it has on the nation as a whole this also impacts the general public as it is the basis of social and economic disparity in the country. There are a number of causes of accumulation of black money.
The high tax rate set by the government is said to be the main reason for it. Other reasons include the different rates set for excise duty, the price control policy, the real estate market, inflation and quota system.
People look for various ways to hide their income from the government and get away with it. The need to stop this practice must be sensitized.
Black Money Essay — 2 words Introduction 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.
Well, the government is making efforts to free the country of black money however the sources of this ill practice are stronger than the policies imposed to get rid of it. It goes without saying that evasion of different types of taxes including the income tax, state taxes, corporation tax, excise duty and customs duty is the key to generating black money.
Here is a look at the various other sources of black money: Black income via exports: A lot of black money is generated by businesses that export their goods. The good supplied in the black market are another source of black money. A lot of profit is generated via the stock market trade and most of it goes unaccounted.
It is this unaccounted profit that makes for the accumulation of black money. Many government officials take illegal commissions from the general public for offering certain services. The income earned via this means is all black. A lot of bribery goes on at different levels in the government as well as private sector and this also contributes to black money.
Scams done by politicians and other people in power are undoubtedly a major source of black money. Conclusion The problem of black money has persisted in our society since decades. It is high time the government should come up with a foolproof plan to free the country from the clutches of this ill practice.
Black Money Essay — 3 words Introduction Black Money is one of the major problems being face by our country these days. This is one of the reasons behind the economic disparity that in turn causes social inequality which is the root cause of several problems in the country.
There are a number of factors that lead to this problem. Some of these include the high rate of tax, increased cost of living, inflation, different rates of excise duty and the real estate market. Ways to Control the Problem of Black Money It is important to control the problem of black money as it is hampering the growth and development of the country to a large extent.
Here are some of the ways in which we can control this issue: The tax system should be realistic. People must not see it as a burden. High tax rate would only make people look for ways for tax evasion. The process of tax collection must be made more efficient.
The government must take certain steps to award the officials who are dedicated and sincere towards this task so as to motivate more and more officials to take this seriously.Feb 20, · Essay on black money in India information, a short speech, paragraph and article, causes and effects of black money India, solutions to fight black money and corruption, footprint, fight against black money, evil, remedy, for class 6,7,8,9,10 in /5(8).
Why Do Students Feel As If They Need Them? I recently had the opportunity to speak with a former writer for a prestigious essay writing service and his . Spending black money on illumination, feasts and the purchase of imported cars is a way of converting that into white; some of such activities hoarders of black money quite often cashes in on.
Today, perhaps there are more black goods, black gold, unaccounted collections of precious stones, more decorated and elegant homes than black currency.
So, with some fancy games and pliant appraisers, the bank recorded a $2 million gain on its deal making. The reality, however, was that $9 million had gone out the door, the bank was paying 15% interest to depositors, and no money was coming in, .
Dec 12, · The playing field is not fair. It’s never been fair. But that doesn’t mean a poor black kid from the inner city can’t succeed . Tax evasion and black money go together like love and marriage. While tax evasion leads to the creation of black money, the black money utilised secretively in business for earning more income inevitably leads to tax evasion.