Well, the government is making efforts to free the country of black money however the sources of this ill practice are stronger than the policies imposed to get rid of it. The government has taken certain steps to eradicate the issue of black money. buying an essay butterfly Those indulging in taking bribe will refrain from corrupt practices as it will be hard for them to keep their unaccounted cash. The ban on high value currency will also curb the menace of money laundering. They are running to the banks to exchange, deposit or withdraw notes.
Here are essays on Black Money of varying lengths to help you with the topic in your exam, class tests or competitions. The rate of tax in India is quite high. mba essay services makes you unique People earn money from different sources and do not bring it to notice so that they can refrain from paying tax. As per the government this action would bring down the accumulation of black money and bring down the illegal businesses and activities that are funded by the same.
The second step that the government initiated was a tax declaration of the income and had given October 30, deadline for this purpose. The accumulation of black money has several negative repercussions on the society with economic and social disparity being the major ones. writing essay in mla format There is a background to the current decision of demonetization of and rupee notes. There are a number of causes of accumulation of black money. Some of these include the high rate of tax, increased cost of living, inflation, different rates of excise duty and the real estate market.
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Those individuals who have unaccounted cash are now required to show income and submit PAN for any valid financial transactions. Such practices are the reason why the rich here are getting richer and the poor are getting poorer. The government has taken certain steps to eradicate the issue of black money.
Tax free income limit in the country is just Rs. The government has taken few steps in this direction much before its November 8, announcement. The money earned via unlawful means is known as black money. While the move was condemned and criticized by many here is a look at the positive impacts of demonetization:. Here is a look at the various other sources of black money:.
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Here is a look at some of these and also the way government has tried to curb this problem in the recent past. Black money is basically the accumulation of income obtained illegally. write my term paper wallpapers Some of these include the high rate of tax, increased cost of living, inflation, different rates of excise duty and the real estate market. It has to bear the cost of printing of the new currency notes.
The problem of black money has given rise to a number of other issues in India. The government is saying that there are only advantages of demonetization policy and this will be seen in the long term. write my term paper wallpapers Such practices are the reason why the rich here are getting richer and the poor are getting poorer.
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However, even if it helped, it definitely was not enough. The demonetization policy will help India to become corruption-free. Those indulging in taking bribe will refrain from corrupt practices as it will be hard for them to keep their unaccounted cash. There are various sources of generating black money and people have been practicing these since decades despite the negative impact they have on the society.
Such practices are the reason why the rich here are getting richer and the poor are getting poorer. The old notes were removed completely from circulation. The private manufacturers and retailers take advantage of this policy that results in black money. There are a number of factors that contribute to this problem. Most of the people who have been hiding their income are now forced to come forward to declare their income and pay tax on the same.
The high tax rate set by the government is said to be the main reason for it. However, if we compare the merits verses demerits, it will be safe to conclude that the former outweighs the latter. The second step that the government initiated was a tax declaration of the income and had given October 30, deadline for this purpose.