Black money is usually to collect illegally obtained money. The component that makes money black money is that the tax is not deducted from this money, that is, it is taken without the knowledge of the employees and when the tax is not deducted from it, then it becomes black money.
It is illegal to keep such money and upon meeting someone, it is legal action.
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Essay on black money in hindi (100 words)
The problem of black money is not new in our country. If the government imposes a tax on the salaries of the people in the country, then if they want to save their salaries, then they take this money illegally and keep it hidden.
The money is either hidden in a foreign bank account or it is kept in the form of gold. This saves it from wealth tax.
The government of our country is dependent on tax for various development activities of the country and if we do not pay it, the government will not be able to do various development activities and our country’s development will be left behind.
The government has taken several steps in the past to solve this problem and if we take a recent example of this, some time ago, the government demonetised the main goal of which was to catch the people possessing black money from the country and get rid of the problem of black money Was.
Essay on black money, black money essay in hindi (200 words)
Black money generally means money that has been obtained illegally and tax has not been paid to the government. Because of this money becomes black money.
The problem of black money has also added many more problems in our country, which are preventing the country’s economy from developing.
The government of our country relies on tax money to develop the country but when people do not pay tax out of their salary, the government gets less finance for development and as a result the desired development in the country is not possible. Apart from this, it also affects the common people because this problem increases inflation in the country.
There are many reasons for black money. The most important reason is the tax rates set by the government which are very high. Because of this, people are reluctant to give large part of their salary to the government as tax.
They adopt new techniques to avoid tax, most of which are illegal. The government will have to bring concrete rules to solve this problem, only then this problem will be overcome and the country’s economy will be fully developed. With this, the common people also have to support the government, only then the country will become a developed country.
Essay on black money, essay on black money in hindi (300 words)
Prologue (black money definition in hindi)
We can call black money as money that is earned in the black market, that is, it is not legally correct because it is not desired. The money is mainly hidden to avoid tax. This is hindering the development of our country.
Sources of black money
The question arises that when there is such a large amount of black money in the country, then why is the government not taking appropriate steps to eliminate it. The government is taking steps on its own level, but this is not possible without the support of common people. Therefore, we should play the role of a good citizen and refrain from doing such illegal acts.
There are different types of taxes in the country like income tax, property tax etc. and having so many options, keeping black money is not a big deal. So people make black money in many ways. Some of these are:
- Black money on exports:
When a business exports its products, it creates a lot of black money. There is no concrete rule of the government on this, so often the exporting businessman has a lot of black money.
- Black marketing:
If businessmen sell their products in the black market, it produces black money.
- Stock Market:
Excessive performance is not accounted for in the stock market , which is a big reason for making black money. The government will have to make concrete rules to control the share market.
- Bribe:
Government employees often take bribes from the common people to get any work done which is not audited and hence it is illegal. This causes black money to grow.
In all these ways, the people of our country make black money and keep it which is illegal. Along with this, it is also harmful for the development of our country. Due to this, the government had demonetised but this plan could not succeed due to some shortcomings.
Conclusion
The government will have to bring concrete rules to solve this problem, only then this problem will be overcome and the country’s economy will be fully developed. With this, the common people also have to support the government, only then the country will become a developed country.
Essay on black money, black , 400 words
Prologue (meaning of black money)
There is a huge problem of black money in our country today due to which many more problems have taken birth. Due to black money there has been a lot of difference between rich and poor people and the development of the country is being hampered due to this. Due to this problem, the tax rate has increased, inflation is getting faster and now tax is also being increased on rectangle-exports. Although the government is taking the desired steps in this, it cannot get rid of this problem without the common man.
Eradication of black money
There is a need to stop black money from growing as soon as possible because of which the development of the country is being disrupted and the economy is also affected. Below are some measures to control black money.
- The tax system should be realistic. People should not see it as a burden. The higher tax rate will only make people look for ways of tax evasion.
- The process of tax collection should be made more efficient. The government should take some steps to reward dedicated and honest officers for this task so that more and more officers are motivated to take it seriously.
- The government should work on its price control policy as it is also a reason behind the origin and accumulation of black money.
- Public sector projects should be monitored strictly to reduce their expenditure.
Private sector investment expenditure should also be effectively monitored. - The government should take action against corrupt officials who contribute to the development of black money in many ways.
- Administrative corruption should be controlled at various levels.
- The sale and purchase of properties should be closely monitored by IT officials to ensure that people do not hide any black money in this incident.
- Politicians, celebrities, senior civil servants and media persons should set an example for the general public to pay their taxes.
- Incentives should be given to those who provide voluntary disclosure of income.
- Exchange rates should be realistic and reflect our comparative rates and position in the world economy.
Conclusion
Although the Modi government has taken steps like demonetisation to stop black money, but still a large part of this problem is yet to be solved, so its government and the citizens of the country will have to make constant efforts only then this problem can be eradicated from the root. And this country will progress at a fast pace.
Essay on black money, essay (500 words)
Introduction
Black money is money of which some part is not paid to the government as tax. In order not to pay taxes, such money is kept hidden from the government. A large number of people do this so that they keep the money hidden so that they do not have to pay tax on it and they can save their earned money. Due to this problem, the tax rate has increased, inflation is getting faster and now tax is also being increased on rectangle-exports. Although the government is taking the desired steps in this, it cannot get rid of this problem without the common man. The government is constantly trying to get rid of this problem because the country’s economy is not fully developed due to this Is getting
How black money is made
It is often heard that many big businessmen, ministers and celebrities have deposited their money in foreign banks. Although the total amount deposited by Indians in a foreign bank is not known, there are several reports which estimate the amount deposited by Indians in their foreign accounts. According to one of these reports, US $ 1.06 trillion has been held in Switzerland while another report claimed that Indians have about US $ 2 billion in Swiss bank accounts. It has also been claimed that the amount of illegal money of Indians in foreign tax is about US $ 500 billion.
Demonetisation: Steps against black money
Recently, a concrete step was taken by the Modi government to end the problem of black money. On 8 November 2016, Narendra Modi announced that 500 and 1000 rupee notes would become illegal from midnight. ATMs across the country were closed on 9 and 10 November. They were refilled with a 2000 rupee note and a new 500 rupee version. The old notes were completely removed from circulation. This step was taken by the government to thwart the accumulation of black money.
Effect of demonetisation:
Although many people strongly opposed demonetisation, there are some positive effects of demonetisation below:
- Much of the black money in India was eradicated by this step of the Modi government.
- All the leaders who used black money in election campaign got a big shock and now they are unable to do so.
- Black money declined in large numbers in real estate.
- This also had a negative impact on the Maoists.
- The circulation of fake notes was reduced.
Conclusion:
The issue of black money is being eaten like a termite to the country, if it is not stopped soon, it will increase and disturb our economy. Although the Modi government has taken steps like demonetisation to stop black money, but still a large part of this problem is yet to be solved, so its government and the citizens of the country will have to make constant efforts only then this problem can be eradicated from the root. And this country will progress at a fast pace.
Essay on black money, black money essay
Preface :
In today’s era, people earn money not from one source but from many sources. Employers invest in the stock market or real estate to create a better future. Along with this some businessmen have many businesses. Along with domestic, they also do business internationally. Due to the different currency of the two countries, it is difficult to impose appropriate tax on it.
Some people hide their earnings by taking advantage of these components and they do not share tax as a tax on this. Because of this it becomes black money which is illegal to keep. Currently, the problem of black money is increasing greatly.
Reasons for black money:
- High Tax Rate
The tax rate in India is quite high. The increase in taxes has forced people to take the path to illegal wealth accumulation. The tax-free income limit in the country is just Rs 25,000, which is not enough to run a household these days when the cost of living skyrocketed.
This is why high earning professionals do this to hide their income that they do not have to pay tax. Poor people cannot afford this much loan.
- Price Control Policy
The prices of some commodities like manure, sugar, cement etc. are controlled by the government through its price control policy. The policy is rigid and does not go through market fluctuations. Private manufacturers and retailers take advantage of this policy resulting in black money.
- Different Excise Rates
The government has set different rates for excise duty based on the quality of the products. To avoid paying a higher rate of excise duty, manufacturers downgrade a product several times. This creates black money.
- Real Estate Transactions
Real estate transactions involve large amounts of money. People accumulate black money through real estate transactions. Buying property at a cheaper rate and selling it when prices rise has become a lucrative business and a lot of black money is generated with it.
- Quota System
The government has set a fixed quota for exports, imports and foreign exchange. While it is prescribed for the benefit of the people, it is often misused to accumulate black money.
- Inflation
High inflation rate is considered as one of the causes of black money. As inflation occurs, the expenditure of people increases without increasing the salary, due to which they are hesitant to pay more taxes, due to which they increase the black money further.
Effect of black money on the economy:
Black money is like a black spot on our country’s economy. Along with the economy, Kaldhan is doing wrong in society as well. Because of this, the difference between rich and poor people increases, due to which there is social difference and it becomes poorer and poorer. When social changes increase, incidents like theft, robbery and looting increase.
Apart from this, tax evasion occurs due to black money. Tax evasion also means the amount that could have been used for the growth and development of the country, did not reach the government. If the government does not get enough revenue then it will be unable to take up new projects for the development of the country and the upliftment of poor sections. Countries where people pay taxes religiously are far better than those with large amounts of black money.
Conclusion:
The government has taken some steps to eradicate the issue of black money. Recently and a major step taken in this direction was demonetization. While the move helped eliminate black money to some extent, it was condemned by many. However, even though it helped, it was certainly not enough. Much more needs to be done to stop this malpractices. The government should find more effective measures to curb this problem. And remember, the government cannot end the issue alone. This can be curbed only when every citizen of the country makes his contribution. Only then will the country progress rapidly and develop fully.
Essay on black money,
Preface :
Such money, of which some part is not paid to the government as tax, is called black money. In order not to pay taxes, such money is kept hidden from the government. A large number of people do this so that they keep the money hidden so that they do not have to pay tax on it and they can save their earned money. Due to this problem, the tax rate has increased, inflation is getting faster and now tax is also being increased on rectangle-exports. Although the government is taking the desired steps in this, it cannot get rid of this problem without the common man. The government is constantly trying to get rid of this problem because the country’s economy is not fully developed due to this Is getting
Sources of black money:
There are many sources of black money. If we see in government work, corrupt officials demand bribe from common man for doing small work. This wealth cannot be declared clearly and is deliberately hidden from the tax net.
However, it is invested in a new business through shell companies or money laundering. In this way, the money which should have been put in public welfare works, they keep the money with them and disrupt the development of the country. This is very harmful for Dadesh because at present our country is a developing country and it needs a fast progress. If such works will be done in the country then this will not be possible.
Apart from government employees, private firms also generate black money through a method called “transfer misprinting”. The modus operandi used in this method is to manipulate the transaction price between the two agencies, so as to deceive the tax agencies and benefit both parties.
Although this money is not earned by dishonest methods, it is deliberately hidden from the tax authorities in order to be taken out of taxation and still considered black money.
Impact of black money on the country:
When government or private employees do not pay taxes from their exorbitant wages, the government has less tax and the government is less able to invest in development works. Due to this, there is lack of road, public facilities in the country. This hinders the development of the country. This money is invested in other countries where the tax rules are not so strict.
The government offices are affected due to so much black money. The government does not have the finances to spend and as a result it does. The money which should have been given to the government and in the end, which is spent in the development work of the country, remains with these illustrious people who use this money in their selfishness. Due to this, social and economic development of the country is not possible. With this, the distinction between rich and poor people increases.
Black money not only affects the development of the country, but it also has an impact on people. Problems of black money promote inflation. When this happens, there is inflation in the country and interest rates rise simultaneously. This increases anger among people and promotes incidents like theft, looting etc.
Measures to control black money (eradication of black money)
Important steps have been taken by the government to control black money. Many times in the past, the government had asked the black money holders to show their black money and the condition was that they could pay it at a lower rate. Apart from this, a common man can also take steps to end black money as if he swears that he will neither take bribe nor give bribe to any employee on demand.
Recently, a concrete step was taken by the Modi government to end the problem of black money. On 8 November 2016, Narendra Modi announced that 500 and 1000 rupee notes would become illegal from midnight. ATMs across the country were closed on 9 and 10 November. They were refilled with a 2000 rupee note and a new 500 rupee version. The old notes were completely removed from circulation. This step was taken by the government to thwart the accumulation of black money.
Apart from the measures given above, the government will have to institute even stricter rules so that anyone who saves black money from tax gets a fair punishment. Along with this, awareness should be spread among people against not doing such activities.
Conclusion:
Black money has the potential to push back the progress of a nation and create economic and social inequality. Money illegally earned gradually leaves the nation in a state of economic and social upheaval.
It is a battle in which no government can fight alone and people should be cooperative and vigilant to fight any kind of financial fraud or illegal activities.
