Taxation Commons^™

Eliminate Black Money, Vijaya Krushna Varma Mr

VIJAYA KRUSHNA VARMA Mr

Abstract: - We all know that black money is being generated by tax evasion through unreported/shadow/hidden accounts and also by corruption and fake currency. Tax evasion is being caused by the indirect result of high tax component on commodities and services, multiple taxes, complex tax structures, cumbersome accounting and auditing. In the present economic system, most of the money in circulation is in physical form (bills/notes). This physical money, in huge amounts, is being transferred from one hand to the other eluding all tax nets in transactions of commodities or goods and transforming into black money. The huge accumulation of …