What is Black Money
Black and White Money It does not mean that money is painted black or white. It’s like an important concept. What we are going to learn today is that in fact we are often stuck in the wrong news and understand what black money is in terms of black money in Swiss banks abroad where many Indian citizens have accumulated. Any money that is accounted for should be kept and any amount that is taxed is not primarily white money and do not claim that you will continue to do so Do not pay taxes on it, it is now for black money. I will do this with the example you see of what is happening now, I will get a salary income and this is like crediting my account directly to my bank account. If anyone sees my bank statement it will already go into my books like tomorrow. But there is no way to hide that a certain number has come and that it must be justified because this is my salary but if I am doing any commission work or intending to engage in international relations it is to do all this and give me money for a fun sport. I mean there is no way this account can hit the bank until I decide to do it because a landlord takes a rental income as cash or something like that.
I still have the money to see what happens if I do not decide to do so. Now I can use this money for other small expenses CA I mean furniture or other things like having this money for this account food I use the money and things like covering my daily expenses are now happening in the second case the way I did not keep this I do not declare it because the money is in the bank, I do not count for it and I do not declare this income at the end of the year. So there is no way on earth. This money can be tracked by an officer or anyone. Below I mean it is a small amount of money I do not put it in the bank or for good I mean it is the black money you often see You will often hear about CBI. This is like the homes of political politicians or the homes of insiders. Then they find a large amount of money. What those people are doing is using bad relationships under table games and other things. This corruption is rampant in India. So they will charge 2 to 3 percent for anything. What is this 2 percent 3 percent? So when they get this money they can put it in the bank so I have to put it somewhere else I mean. So they hid it in suitcases or in a place of resignation. The income tax rate and everything you know about the income tax rate and all that happens the way you know it. It will prevent people from doing all these illegal things. If you understand this, white is clear. If you think, you do not want to be frustrated if you cannot get the right pitch so invest in a good capo.
What you prefer is that if you do not know what to go for and you publish it under a certain hat computer gloss, the total income will benefit from the deductions you have invested. If you have made a return investment and in what year you can benefit from the income tax, you can go ahead and make a profit in front of me which will help you to get a return of Rs. 1 lakh. The money so far is sixty one thousand ninety two rupees and I hid it. So I decided that what I really needed to do was learn how to do it right. So I declared it as income from other sources. So add my payroll income to the 51st nine Calculate the 51st total income The benefits of bookings like D and that’s what I mean when everything and everything is over. I went ahead and paid his taxes. When I pay those taxes, the indirect objection is that I have paid taxes on previously accounted and unaccounted money. The black man turns white because he has paid taxes. This is the purpose.
All you need to know about Black Money and Demonetisation
The probability of not being the only adult in India who has not been involved in corruption, including getting a driver’s license at school or registering a property racket in India, is so prevalent that it has become an integral part of our lives. This means that all of these corrupt people still refuse to pay bribes, and in the context of recent D money making, we can understand what black money is, and that black money is the amount of money you earn, even if you have black money. There are two types of money that can be earned through legal means, such as selling drugs and bribery. The next problem is that this black money is only with the rich and let’s assume you are a salaried person.
Someone with other income, such as rent from your two apartments. If you are a salaried person, your employer will deduct taxes from your monthly salary. Therefore, we assume that this white man has not now declared his rental income of Rs. 50,000 per month in your tax return. This means that you do not pay taxes when your annual rental income is 600,000 and this is black money. If you declared your additional rental income and tax paid, this would be white income.In order to promote this voluntary disclosure of income, an individual can declare that they can live peacefully by paying a 30 percent tax and a 30 percent penalty on their foreign assets between July and September 2015, thereby ensuring their anonymity. By 2016, 147 crabs had been published by individuals and signed up for automated information exchange between India and various countries. Rewrote double tax evasion agreements with tax havens such as Mauritius and Cyprus. Circulation of black money through Mauritius as per previous agreement India would not levy capital gains tax if money came from Mauritius and Mauritius.
On the other hand, is it not capital gains from India? So all that had to be done was to take the black money out of India and invest it through shell companies. Switzerland has signed a joint statement since September 2019 to automatically exchange information between Switzerland and India every 2017 on most black money. The Income Statement Scheme launched by the present Government in 2016 has given the opportunity to the citizen who has not paid tax in the past to come forward and declare 45% of the undisclosed income salary, 45% has finally been taxed and more peacefully Live Benami Transaction Bill was passed this year with the aim of seizing and prosecuting property owned by one person or a counterfeiter but paid for by another. Corruption We need to understand that corruption is limited to not just money transfers but also assets. The money-making drive for No. 8 in 2016 was that after all the opportunities previously given to people to complete the D-Monet, the ice that is going to influence black money is targeted at those who have amassed large sums of money illegally or by not disclosing that real income and fake Corrupt government officials targeting those who generate notes are small, medium and large corrupt.
Business Institution Landlord Professionals Can Keep Five Thousand Pieces And Rs.1000 Note D With Cash Earnings. The only way these players can convert these notes is to deposit them in the bank or exchange them through the bank in both cases. Income tax declarations by individuals in recent years The department is seeking clarification on the source of the revenue so that they can be caught with counterfeit notes. How can the government get this for the people who are caught in the black money that the government gets because they are useless? Paying taxes and fines on this undisclosed amount for money that has not been circulated but not exchanged or deposited in the bank is as good as 100% cash back to the government. Because they can now print and send new notes. The money collected through circulation taxes can be used for various government services such as infrastructure development in rural and urban India and provide better health care to improve the living standards of every citizen. It increases employment opportunities for skilled and unskilled workers after tax. The base will also increase and the government can reduce tax rates by giving relief to the wage middle class. Instead of destroying their black money instead of exchanging it, if they exchange it with God every year, they should start showing real income.
Now they know the real income because they will not be able to collect black money. Making Money In The Future In One Swipe Will Help In One Of The Ways. The counterfeit notes become worthless Naxalites and terrorists as the corrupt lose their hard-earned black money. The money-hungry political campaign will be relatively clean. The man who had previously stood had to pay a large sum of money to the basket for the seat, and the locals were only paid to work for him to recover the money from the corruption. Now Rs.500 and Rs.1000 nodes have been banned despite the large number of hundreds of counterfeit notes due to the fact that most of the black money is stored in high denominations.
You can save Rs.100 crore at home for Rs.1000 and it is Rs. Just waiting and if that amount is stored within 100 rupees it will be 1000 kg. Political funds are a big black hole when the average citizen deposits money in a bank account, and if political funds are to be considered a big black hole, the culprit’s cash account is close to zero if the shortcomings are not fixed. Our information is expected to be presented, however. The same is not true of political law. Under the current rules, no document in 2014 means a contribution of less than 20,000 rupees. Seventy-five percent of contributions to the six major political parties came from unregistered sources, and how does this affect them? Control affects business entities and real estate is key.