Download Free Black Income In India Book in PDF and EPUB Free Download. You can read online Black Income In India and write the review.

In this book, the author critically examines the standard explanations for the causes and consequences of black income generation. His analysis lays bare the pernicious effects of black income on the macroeconomy and the resultant inefficiency, waste in the economy and society.
In India, the phenomenon of `black money' - from undeclared tax to smuggling - has assumed gigantic proportions. This volume provides estimates of black income, both in the aggregate and for individual sources, and examines the underlying causes. The author also explores the political, economic and social consequences, suggesting that political and bureaucratic corruption are at the root of the problem and he evaluates policy measures designed to check black income.
Just how much black money is there in India? Estimates vary from 10 per cent to 20 per cent of our GDP. Conservatively, Rs 15 lakh crore (10 per cent of Rs 150 lakh crore, our GDP in 2016-17). As for Indian money in tax havens around the world? Around Rs 65 lakh crore. Truly astounding figures. Black money or kala dhan is a topic that has elicited much debate in recent times. This has been mostly marked by mudslinging and name-calling, and the discussions that have ensued often have no basis in fact. While most people have a hazy notion of black money, only a few understand it in its entirety. The issue of tax havens is perhaps even more misunderstood. Most people fail to see the connection between tax havens and black money. Black Money and Tax Havens is the first work that discusses both of these issues in depth and offers a 360-degree view to the reader. In this work, R. Vaidyanathan provides the reader with a brief overview of black money-its generation, its estimates and how and why it is spirited away to tax havens. He also lays bare the danger that is posed to world financial well-being on account of the lack of political will to tackle these issues. A unique and timely work, this book packs in much information in an accessible manner.
The Narendra Modi government's sudden demonetization of `500 and `1,000 notes in November 2016 failed to put a dent in the black economy but caused untold hardship to hundreds of millions of Indians. It has crippled the country's economy for a long time to come. In this book, Arun Kumar, the country's leading authority on the black economy, tells us why Modi's gambit failed. He shows us the way in which the problem can be rooted out, provided the government has the political will and determination to act. Today, the black economy is estimated to be 62 per cent of GDP-or about `93 lakh crore ($1.4 trillion). Corrupt businessmen, corrupt politicians, and corrupt members of the executive (bureaucrats, police and the judiciary) are responsible for controlling the black economy and enabling its growth. If the black economy were to be dismantled and turned into a part of the 'white' economy, the country's rate of growth would be 12 per cent. If it had not grown the way it has since the 1970s, India's per capita income today would be approximately `7 lakh per annum ($11,000) and India would become the second largest economy in the world. If the black economy were taxed at current rates, it would generate `37 lakh crore in additional taxes and the union budget would show a surplus of `31 lakh crore instead of a deficit. The failure of successive governments to tackle the problem effectively has been the single biggest obstacle to eradicating poverty. It is the cause of both widespread policy failure and the inability of the nation to improve its living conditions rapidly.
When Lew Archer is hired to get the goods on the suspiciously suave Frenchman who's run off with his client's girlfriend, it looks like a simple case of alienated affections. Things look different when the mysterious foreigner turns out to be connected to a seven-year-old suicide and a mountain of gambling debts. Black Money is Ross Macdonald at his finest, baring the skull beneath the untanned skin of Southern California's high society.
To meet the deadline set by the Honourable Supreme Court for the previous Government, the new Government of Prime Minister Narendra Modi constituted a Special Investigation Team (SIT), soon after assuming office on May 26, 2014. Headed by Justice M.B. Shah, a former judge of the Supreme Court, SIT was notified on May 27, 2014 to look into the issue of black money. The objective of this book is to explain various facets and dimensions of black money and tax evasion and their complex relationship with the policy and administrative regime in the country. It describes the factors which lead to the generation of black money, and records various estimates of black money and tax evasion. It also presents the measures/strategies that the Government of India has been pursuing to tackle this issue, especially recent initiatives and developments.
In the modern economic system, Black Money refers to funds earned in the black market, on which income and other taxes have not been paid. The total amount of black money deposited in foreign banks by Indians is unknown, but one estimate by an expert reveals that the black money held by Indians, in foreign banks is more than all the black money, hoarded by people in the rest of the world, combined together. While official numbers are not available, Swiss banking personnel have also said that the largest depositors of illegal foreign money in Switzerland are Indians. Black Money is an economic term, hard to define, accurately. Black Money is also sometimes used for payments to evade tax. However, this is a mild form of black money. This money in fact is obtained, illegally and is partially suppressed. A popular way for criminals to launder black money in property is to set up complex structures. In this way, they try to see that the money flows out. This book on this subject should certainly prove to be an asset for all scholars, researchers and social activists Table of Contents Preface....................................... ix Introduction............................... 1 Definition of Black Money • Birth of Black Money • Burning Topic • Use of Black Money • Controlling Black Money • Roots and Causes of Black Money • Black Money Scenario • Another Definition • Mid-form of Black Money • Art of Spending • Repentance Scheme • Black Money in Swiss Banks • The Modus Operandi • Mauritius Route • Non-sufficient Funds • Implementation Black Money in India..................... 33 An Overview • Sources of Black Money • Parallel Economy • Political and Administrative Corruption • Indian Politics and Black Money • Remedy to Corruption • Failed Policies • Current Scene • Baba Ramdev and his Individual “Satyagraha” • Industries and Black Money • Poverty, Industrial Scam and Corruption • Illicit Means Adopted • Tax Information Exchange Agreement • Economics of Corruption • Remittance Services • Cybercrime • White-collar Crimes • Terrorist Financing • Human Trafficking • Court Cases Impact of Black Money on Indian Economy 71 Effects and Aftereffects • Other Effects • Various Causes of Black Money • Effects of Black Income • Impact on Common Man • Inflation • Speculative Investments • Major Tax Havens • State of Indian Economy Indian Government’s Actions against Black Money................................ 81 Law against Black Money • Income Tax Department’s Role • Various Measures Undertaken Money Laundering........................ 95 Disguising Illegal Sources • General Aspects • Methods • Enforcement • Laws by Region • Locations • Castle Bank and Trust • FIMACO • Fraud Enforcement and Recovery Act • Legislative History • Money Laundering Control Act • Money Mule • Nugan Hand Bank • Founding • Parcel Mule Scam • Russian Mafia Unlawful Transactions................. 129 Cheque Fraud • Types of Cheque Fraud • Bad Cheque Writing • Cheque Kiting • Bad Cheque Restitution Programme • Methods • Circular Kiting • ChexSystems • Services • Overdraft • Shared Cheque Authorisation Network Black Marketing........................... 155 Background • Transportation Providers • Modern Examples Insider Trading............................ 169 Definition of Insider • Legal Insider Trading • Illegal Insider Trading • Liability for Insider Trading • Tracking Insider Trades • Common Law Menace of Corruption................... 181 Etymology • Areas of Corruption • Corrupt Activities • Bid Rigging • Bribery • Cartel • Collusion • Cronyism Corruption in India....................... 207 An Overview • The Background • Politics • Bureaucracy • Land and Property • Income Tax Department • Judiciary • Armed Forces • Medicine • Religious Institutions • Education • Protectors against Corruption • Socioeconomic Issues • Economic Issues • Violence Organized Crimes......................... 223 The Background • Theoretical Background • Critical Criminology and Sociology • Models of Organised Crime • Individual Difference • Violence The Scams.................................... 249 Lottery Scam • Charity Scams • Fraud Recovery Scams • Pet-Scams • Rental Scams • Attorney Collection Scams Controlling Financial Crimes......... 255 Various Organisations • Directorate General of Economic Enforcement • Directorate of Revenue Intelligence • Economic Intelligence Council • Various Members • Financial Crimes Enforcement Network • Hawala • Financial Transaction Centre • Guardia di Finanza • Different Roles • Anti-drug Operations • Chiasso Financial Smuggling Case • Unit Awards • Special Departments • Mobile Phone Financial Services • Market Abuse • Market Manipulation • Servicio de Vigilancia Aduanera • Department of Customs and Special Taxes • Territorial Services • Armament and Equipment • Slush Fund • the United States Secret Service • Uniformed Division • United Nations Convention against Corruption Anti-corruption movement in India. 299 Background • India against Corruption Movement • August Protests • Vote Bank against Corruption • Political Support • Jan Lokpal Bill • Use of Cyberspace • Government’s Response • Political Response to Jantar Mantar Protests • Ramlila Ground Protests • Police Action against Demonstration • Aftermath of the Protests • Civil Society Response • Suo Moto Cognisance by the Supreme Court • Protest Timeline Laws in Various Countries............. 327 International Laws • Indian Laws against Corruption • The Acts • The Amended Act • Patronage • Ecclesiastical • Price-Fixing • Criticism on Legislation Bibliography................................ 345 Index.......................................... 363
“Read this book. It explains so much about the moment...Beautiful, heartbreaking work.” —Ta-Nehisi Coates “A deep accounting of how America got to a point where a median white family has 13 times more wealth than the median black family.” —The Atlantic “Extraordinary...Baradaran focuses on a part of the American story that’s often ignored: the way African Americans were locked out of the financial engines that create wealth in America.” —Ezra Klein When the Emancipation Proclamation was signed in 1863, the black community owned less than 1 percent of the total wealth in America. More than 150 years later, that number has barely budged. The Color of Money seeks to explain the stubborn persistence of this racial wealth gap by focusing on the generators of wealth in the black community: black banks. With the civil rights movement in full swing, President Nixon promoted “black capitalism,” a plan to support black banks and minority-owned businesses. But the catch-22 of black banking is that the very institutions needed to help communities escape the deep poverty caused by discrimination and segregation inevitably became victims of that same poverty. In this timely and eye-opening account, Baradaran challenges the long-standing belief that black communities could ever really hope to accumulate wealth in a segregated economy. “Black capitalism has not improved the economic lives of black people, and Baradaran deftly explains the reasons why.” —Los Angeles Review of Books “A must read for anyone interested in closing America’s racial wealth gap.” —Black Perspectives