Black Money
Why did money became black?
It is understood that illegally earned money is called black money. Here, illegally means: corruptions, cheating, theft or burglary, and what more....?
Of course, even though hard earned, through business, or by profesion ,say a doctor, engineer, merchant or any professional earn rightfully with their efforts, still their money becomes black, when the income is not declared and the tax paid to the government.
Of course, it is the duty of every citizen to pay the scheduled taxes in order to maintain the government whose duty is to look after the welfare of the people and the nation.
The small trader, who cannot maintain accounts and whose income does not exceed the exempted limit need not pay the income-tax. But, still, his savings accrued over several years,not saved in a Bank or Post-office, will become black if not invested properly. This is for general public.
An artist, or a professional, if he is paid in cash and does not show in books of account, what all he has earned, his saved money becomes black. If a person sells or buys a land, and if the actual amount received or paid is not mentioned in the document, the difference of amount received will be become black.
Truly, Black money is a detriment to the economy of a country.
Why at all the people should be taxed ? If there are no taxes at all, the people can keep all the money or wealth they earn and no need to keep the cumbersome accounts.
But, with out any funds, how can a Government maintain the rules and regulations, build roads and arrange for other necessities of the people. So, I agree that all the citizens should contribute for the welfare of the nation.
But, there is a big BUT here. Most of the people are of the opinion that why should we pay taxes. They feel the taxes collected are wasted or knocked off by the politicians who form the government and the officials . Of course, that is true. Government officials have become very corrupt. This is mainly because the politicians are selfish and selfless service is absent from them. Even if there are a few honest workers among them, they cannot withstand the ignoble company and soon surrender to them.
