India Business Line : Industry & Economy / Taxation & Accounts : Tracking black money

April, 23rd 2011

Black Money is a flow, and not a fund. This well-established truism has to be thought over again and again for the implications of the statement. Black money is generated constantly and goes on accumulating in hidden places apparently beyond the reach of the taxman. Half a century of after the Income -Tax Act 1961 came into force, Government is still groping in the dark to find ways and means of preventing generation of black money. What is needed is a close link between the tax law, the company law and the money laundering law.

More: … Business Line : Industry & Economy / Taxation & Accounts : Tracking black money.

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