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TMI BlogPositive side of Black Money - Whether did it save our economy from recessionX X X X Extracts X X X X X X X X Extracts X X X X ..... Positive side of Black Money - Whether did it save our economy from recession - By: - Chandan Goyal - Other Topics - Dated:- 31-3-2008 - - In an interesting article published in Times of India, it i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s revealed that black money is a boon for Indian economy in the era of worldwide recession. As per the article the followings are positive sides of negative aspects in India 1. A large proportion, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... often half, of almost all home purchases is paid in black money. If a house is sold for Rs 100 lakh, the official registered value will typically be only Rs 50 lakh, with the balance paid under the t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able in cash. A bank may loan Rs 50 lakh, covering the entire formal price. However, the owner's contribution is not zero: he has paid Rs 50 lakh in black. To preserve that black investment, he will k ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eep paying his installments even if house prices dip. 2. In India legal system is so slow that borrowers have little fear of even their mortgaged homes being seized, let alone other assets. Yet, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hey do not default, and India's financial system remains strong. (For detailed article - click here ) - - Scholarly articles for knowledge sharing authors experts professionals Tax Manageme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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