Black Money and Tax Evasion in India: Causes and Remedies

Abstract

In the present scenario, Black money and Tax Evasion both are the serious problems of Indian Economy. It is a very common phenomenon. Tax evasion and tax evasion can seriously affect the entire system of the economy. Black money and tax evasion both are the reason for the high inflation in Indian economy. They both cause the prices of commodities to increase beyond level. The government of India has taken many remedial measures and corrective action to control the black money and tax evasion. In this paper we focus on causes of black money and tax evasion in India. This study also focuses on the impact of black money and tax evasion on Indian economy, remedial measures and corrective actions taken by Government to control black money and tax evasion.