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Black money

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(Querist)
17 October 2013 What is black money and how it will be quantified?
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Sanket

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Sanket (Expert)
18 October 2013 It is money which is unaccounted for
and untaxed cash generated by dealings
in a black economy, black market, or
organized crime. Holders of black money
try to convert it into legitimate ('clean'
or 'white') money through money
laundering.
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Ganeshbabu K

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Ganeshbabu K (Expert)
18 October 2013 black money means income for which you have escaped from tax
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