Under the Black Money Act, undisclosed foreign income and, or, assets are subject to tax at 30% of the taxable value of such income and, or asset. Further, the assessee is also liable to a penalty of 3 times of the tax computed.
whatever serves society in four functions: as a medium of exchange, a store of value, a unit of account, and a standard of deferred payment.
What is the full meaning money?
1 : an accepted or authorized medium of exchange especially : coinage or negotiable paper issued as legal tender by a government. 2a : assets or compensation in the form of or readily convertible into cash.
What is the saying about money?
Money is like sea water. The more you drink, the thirstier you become. Possession of wealth creates an addiction to money; modern saying. Money isn’t everything.
Can I pay tax on black money?Are money trees real?
The Pachira aquatica or the money tree is a tropical tree that is native to Central and South America, where it naturally grows in swamps.
Does God own my money?
As Founder and Creator of the heavens and the earth and all that is in them, God holds the rights to all of it. That includes even us – our bodies, our minds, and our lives. Even when we had become slaves to sin, he redeemed us, paying with his Son’s life. We are doubly owned.
What is M1 and M2 money?
What Is M2? M2 is a calculation of the money supply that includes all elements of M1 as well as “near money.” M1 includes cash and checking deposits, while near money refers to savings deposits, money market securities, and other time deposits (in amounts less than $100,000).
Can I pay tax on black money?Is money important to be happy?
Being Rich Isn’t Necessarily the Path to Happiness. Money is important to happiness. Ask anyone who doesn’t have it. Having a higher income, for example, can give us access to homes in safer neighborhoods, better health care and nutrition, fulfilling work, and more leisure time.
What are the advantages and disadvantages of money?
It’s easy to waste
Learn about money in this video:
Does money save life?
Without money, we would soon lack things basic to survival. Thus money can literally be said to save lives; it saves our own lives. Some people collect spare change to donate to local charities. In developing countries, things we might consider as basic necessities are often sadly lacking for want of money.
Is it OK to give money to beggars?
A charity spokesman said: “Whether or not people give money to beggars is a personal decision, but we know from our own clients how important a simple act of kindness can be to those in desperate circumstances. “Not everyone who begs is homeless and not all homeless people will beg.
Can you buy a money tree for yourself?
Buying your own money tree often brings the thought of losing out on the symbolic meanings behind the plant. Well, you’ll be glad to hear that buying your own money tree isn’t bad luck as it’s supposed to bring good luck and prosperity to its owner, even if you did buy it yourself.