Black Money
This query is : Resolved
26 May 2009
What is meaning of Black Money and why and for what it is used for?
27 May 2009
Which amount has not been declared that amount called black money
27 May 2009
It also called unaccounted/not declared money on which normally tax is not paid. e.g. a person sells his house for 5 crore but for the purposes of income tax and stamp duty declares the sale value as Rs. 3 crore only. The transaction of rs.2 crore will be unaccounted/not declared thus treated as black money.
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