Black Money


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Black Money

A scam in which the scammer attempts to convince a victim that black construction paper (or similar material) is in fact dyed money. Such scammers send e-mails stating that they have a large amount of money that has been dyed black to avoid customs. The scammer then asks the victim to pay for the chemicals to take off the dye in exchange for a percentage of the money. An alternate version of the scam involves actually showing the dyed "money" to a potential victim. It originated around 2000.
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On Monday, India Today had carried an investigative report on how crores of rupees of black money are being transferred via the hawala route to poll bound Bihar.
On the recommendation of the I-T Department,EeEDEehad registered a case against him under the Black Money Act.
" Large amounts of black money are being transacted every year.
New Delhi [India], Dec 3 ( ANI ): Asserting that demonetisation had no impact on black money, former Chief Election Commissioner OP Rawat on Monday said that the move had no impact on misuse of money during elections.
If we want to stop use of black money in elections, save democracy and let political parties maintain transparency, you must go for electoral reforms," Banerjee told reporters here on Saturday.
While the government offers amnesty to black money holders as a boon, prize money on savings scheme certificates will serve as a good gesture to the tax registered investor and may also bring in more investment in government investment schemes.
In addition, the government will award 20 per cent of the recovered amount of the black money to the informers or whistleblowers.'
Bringing black money stashed abroad was one of the key issues for 2014 elections and the BJP had promised to crack down on black money parked in foreign banks.
Chapter 1 and 2 deals with the concepts of corruption, black money and critical review of the literature on the black money estimation techniques in the economy.
Addressing the joint sitting of Parliament, Kovind listed several measures taken by the government, like the enactment of new laws, the constitution of Special Investigation Team (SIT) and signing of tax information exchange agreements with various tax havens, to effectively deal with the menace of black money. "Demonetisation was a defining moment in the government's war on corruption and black money.
Chennai: The Income Tax department today filed four charge-sheets against former Union finance minister P Chidambaram, his wife Nalini, son Karti and daughter-in-law Srinidhi under the Black Money Act for allegedly not disclosing their foreign assets.
New Delhi: Prime Minister Narendra Modi on Wednesday thanked the people of the country for supporting his government's measures to eradicate black money, on the first anniversary of demonetisation.