black money


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black money

n.
Income, as from illegal activities, that is not reported to the government for tax purposes.

black money

n
1. (Economics) that part of a nation's income that relates to its black economy
2. (Accounting & Book-keeping) any money that a person or organization acquires illegally, as by a means that involves tax evasion
3. (Government, Politics & Diplomacy) US money to fund a government project that is concealed in the cost of some other project

black′ mon′ey


n.
income earned surreptitiously and not reported to the government in an attempt to avoid paying taxes on it.
[1965–70]
References in periodicals archive ?
The EC will assess the steps that are currently being taken by the poll panel teams on the ground in Bihar and also detail additional steps that need to be taken to curb the flow of black money.
Brisbane: Prime Minister Narendra Modi on Saturday unequivocally said that repatriation of black money kept abroad is a "priority" for his government, as he sought close global coordination to achieve this objective.
Summary: New Delhi [India], Jan 28 (ANI): A Delhi court on Monday granted five days further remand of Gautam Khaitan to Enforcement Directorate (ED) in a black money case under the Black Money Act.
THE Supreme Court- constituted Special Investigation Team probing black money on Tuesday submitted before the apex court that cricket betting has emerged as one of the key sources of black money generation and, according to one account, it could be as high as ` 3 lakh crore annually.
New Delhi: The Indian government said on Tuesday, that it would submit to the Supreme Court today the names of all Indians who have allegedly stashed away illegally accumulated wealth (black money) in banks abroad.
Summary: 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.
Trinamool Congress supremo Mamata Banerjee on Saturday demanded the return of ballot papers in place of Electronic Voting Machines (EVMs) and said electoral reforms are required in the country to save democracy and stop the use of black money during polls, according to the statesman .
IT is a good move by the government to abolish high denomination prize bonds for controlling black money and corrupt wealth but motivation may be kept open for the fair wealth holders.
Regarding the whistleblowers' safety bill, Naseem said, 'The names of those giving information about black money will be kept confidential.
We had said that we will take action (karyawahi) against black money. Action is being taken against black money.
The book, in the aftermath of demonetization, is a significant, serious and critical contribution to the theoretical and practical understanding of the impact of black money on the economy.
Describing demonetisation as a defining moment in the NDA government's war on corruption, President Ram Nath Kovind on Thursday said it had struck at the very root of the parallel economy which was thriving on black money.