Black money is a term that has been in use for a long time, but what does it really mean? In simple terms, black money refers to money that is earned through illegal means and is not reported to the government for taxation purposes. It is often associated with corruption, money laundering, and other illegal activities. In this article, we will explore the definition and meaning of black money in more detail.
Definitions
Black money can be defined as any income or wealth that is earned through illegal means and is not reported to the government for taxation purposes. This can include income from illegal activities such as drug trafficking, smuggling, and human trafficking, as well as income earned through legal means but not reported to the government, such as under-the-table payments.
Origin
The origin of black money can be traced back to the early days of civilization when people started engaging in trade and commerce. However, the term “black money” gained popularity in the 20th century when tax evasion and money laundering became rampant. The rise of the shadow economy, which consists of unreported economic activity, has also contributed to the growth of black money.
Meaning in different dictionaries
The meaning of black money is consistent across different dictionaries. It is defined as income or wealth that is earned through illegal means and is not reported to the government for taxation purposes.
Associations
Black money is often associated with corruption, money laundering, tax evasion, and other illegal activities. It is also linked to organized crime, as many criminal organizations use black money to fund their operations.
Synonyms
The synonyms of black money include unreported income, undeclared income, hidden income, and illicit income.
Antonyms
The antonyms of black money include reported income, declared income, legal income, and taxable income.
The same root words
The same root words for black money are illegal income, untaxed income, and unreported income.
Example Sentences
- The government is cracking down on black money by implementing stricter tax laws.
- Many politicians have been accused of amassing black money through corrupt means.
- The businessman was caught with a large amount of black money hidden in offshore accounts.
- The company was fined for not reporting their black money to the government.
- The investigation revealed that the criminal organization was using black money to fund their operations.