Unmasking The Shadow: The Perils And Impact Of Black Money
Posted By: Sayan dey
About this Talent:
Hi,
Black money, also known as illicit money or unaccounted wealth, refers to funds that are acquired through illegal means or are not declared for tax purposes. This clandestine wealth is a global issue that poses serious economic, social, and political challenges. In this article, we will delve into the concept of black money, its sources, consequences, and the measures taken to combat it.
Sources of Black Money
Tax Evasion: One of the primary sources of black money is tax evasion. Individuals and businesses underreport their income or engage in fraudulent practices to avoid paying taxes. This undermines government revenue and hampers public welfare programs.
Corruption: Corruption, both in the public and private sectors, contributes significantly to the generation of black money. Bribes, kickbacks, and embezzlement divert funds away from legitimate channels.
Criminal Activities: Organized crime, drug trafficking, smuggling, and other illegal activities generate substantial amounts of black money. These funds often flow into offshore accounts, making them difficult to trace.
Real Estate Transactions: The real estate sector is notorious for facilitating the conversion of black money into white through under-the-table transactions and benami property holdings.
Consequences of Black Money
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| Location: Rs.Kolkata | Languages Known : english |
