Black Money

Black Money

First day, First cabiniet meeting, First decision ....Prime Minister Narendra Modi and his cabinet got down to work during it's very first meeting on Tuesday afternoon on 27 May 2014. They set up Special Investigation Team (SIT) under two retired Supreme Court judges to probe black money stashed abroad.

 This is very strapping and unique decision taken by Indian Government. As of now many movement took place for black money. Every Indian welcomes this decision and surely Mr.Narendra Modi deposited credit in Indians mind for next 5 years. Getting back Black Money is very long process and may be government will take months/years to come up with output however hats off for this decision. Currently on TV every channels shows many presumption about amount stashed oversea however there are many questions coming in the mind of common man and one of them is "What is Black Money ?
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In India, Black money refers to funds earned on the black market or any transaction on which income and other taxes has not been paid.The total amount of black money deposited in foreign banks by Indians is unknown. Whatever that amount but is it the only amount which is so called as black money ? 

Huge amount of black money reside in India through Black Marketing, Now what and all comes in black marketing ?

Look at few of the below well know black marketing in India. undoubtedly these black marketing creating huge amount of black money in India which mostly stay in India itself. 

• Sexual exploitation and forced labor
• Illegal drugs
• Prostitution
• Animals and animal products
• Alcohol
• Tobacco
• Biological organs
• Transportation providers
• Currency

So now we are clear about black money and black marketing , Is there anything left for black money source ?

                                                                            Yes , Here it blends .(No hard feeling)

Most of Indians right from chaiwaala to well educated people try to save their taxes. Most of us shows false receipt of medical bill and rent receipt to save few thousands tax money. Since we are not paying taxes all that money will be treated as black Money. Even though all of us are bound to pay income tax by our organization but to save few tax we contribute in that huge amount of "BLACK MONEY"

Instead of suggesting another tax system to government and trying to change rules ,Let us be honest to yourself and try to pay tax.

After all "Akela Modi kya kya karenga "