Updated By: LatestGKGS Desk
Reasons behind generation of Black money tax corruption
Generation of black money through tax, corruption, bribes, illegal activities
Black money is generated due to tax evasion which means an illegal practise to not pay tax to the Government.
Corruption and bribes also generate black money because the amount is not shown in book of accounts therefore, the government does not came to know of this money.
Black money is also generated from illegal sources like drugs, weapons trade etc.
People do these illegal things which is completely prohibited by the government and generate money from these sources.
Mining without the permission of state or central government or absence of license extract natural resources comes under illegal mining which generates black money.
People attempt free and fair operation in the market and create artificial appearances which is equity market manipulation leads to black money.
