Commits (2)
The unaccounted money that is concealed from the tax administrator is called black money.
Now a days in india one of the issue is black money.
Almost every politician, bussiness man, some of the memebers as lot's of black money.
It was mainly done by the corrucption like some of the hospitals, bussiness, elections, etc....
By the july 2011 $500 billion of illegal money was an estimated based on a statement placed in superem court.
The total money depositied by indian in foreign banks is unknown
Some reports claim a total of US$1.06 - $1.4 trillions is held illegally in Switzerland.
In March 2018, it was revealed that the amount of Indian black money currently present in Swiss and other offshore banks is estimated to be ₹90 lakh crores or US$1500 billion