3. MEANING OF BLACK MONEY
HISTORY OF BLACK MONEY
SOURCES OF BLACK MONEY
TOP 10 COUNTRIES INCLUDES IN BLACK
MONEY
BLACK MONEY ACT HIGHLIGHT
DISADVANTAGES OF BLACK MONEY
4. MEANING OF BLACK MONEY
• Black money is money which is earned through any illegal activity controlled
by country regulations. Black money proceeds are usually received in cash
from underground economic activity
5. HISTORY
• In 1930s
• In late 60s, we got money from several nation as loan/aid, the politically
connected people took the advantage of it and gave donation to the political
parties.
• In 80s, IMF and IBRD came starting giving loan to every country for
development work.
In1980sIn1960sIn1930s
6.
7. TOP 10 COUNTRIES IN BLACK
MONEY
CHINA
MEXICO
MALAYSIA
SAUDI ARABIA
RUSSIA
PHILIPPINS
NIGERIA
INDIA
INDONASIA
UAE (UNITED ARAB EMIRATES)
8. Black money act have came into force on the 1st day of April 2016.
Only resident person covered the act not ordinarily resident in
India as defined under section 6 of the income tax act1961.
9. DISADVANTAGE of BLACK MONEY
WIDENING THE GAP BETWEEN THE RICH AND THE POOR
Growth of the money causes regressive distribution of income in
the society . When the black money grows faster, rich become
richer and poor become poorer.
11. Conclusion of this topic
• As we know that our prime minister started Aadhar card in India for each and every
person .
• If we individually give tax to the government then our country will become a
developed country.
