Black Money and Tax Evasion in India
By M. M. Sury
In recent years, the issue of corruption and black money in India has come to the forefront after a series of financial scandals. The creation/generation of black money - and its stashing abroad in tax havens and offshore financial centers - has dominated discussions and debates in the public forum. Members of India's Parliament, the Supreme Court, and the public at large have unequivocally expressed concern on the issue, particularly after some reports suggested enormous estimates of such unaccounted wealth being held abroad. Following the uproar, the government of India came out with a White Paper on Black Money in 2012. This White Paper presented the different facets of black money and its complex relationship with the policy and administrative regime in the country. It also reflected upon the policy options and strategies that the government had been pursuing, in the context of recent initiatives, to address the issue of black money and corruption in public life. This book explains the various facets and dimensions of black money and tax evasion in India, and their complex relationship with the policy and administrative regime of the country. It describes the factors that lead to the generating of black money, and it presents the measures/strategies that the government has been pursuing to tackle the issue.
Publication Date: 7/31/2014