Income that is not reported to a government in order to evade taxes.
In India, the government faces the issue of combating black money stashed overseas.
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(India) Money that is obtained illegally, especially that which circulates outside the formal financial system in the underworld.
Demonetization — or the withdrawal from use — was one of a package of measures recommended by a Government committee that investigated the problem of “black money” — money acquired through illegal transactions and kept hidden from tax au…
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