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According to a Swiss Banking Association Report (2006), "India has more black money than the rest of the world combined." India has stashed almost $1.456 billion in black money in Swiss banks.
Black money is income obtained by illegal activities that is not reported to the government to avoid income taxes.
See the related link for a report from the Times of Bombay.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoMaybe True, Maybe False. Yes, Switzerland has been one of the preferred destinations for criminals to stash away their illegal income/black money. However these days law enforcement agencies can get details of a customers bank account if they can prove that an individual did something illegal.
Apart from Switzerland there are many places like Nevis, Bahamas etc which offer similar confidential banking services.
Wiki User
∙ 11y agoIndia prime minister have around $26,456000 crore billion or trillion ok.
Wiki User
∙ 11y ago1456 billions
Wiki User
∙ 11y agoAmbani brothers
Wiki User
∙ 11y agoAs mush as you want it to be.
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What is use of tortoise in black magic in India?
the use of tortise in india is for getting a lot of money doing black magic on it where the tortoise spills out money from its mouth.... hard to believe but its truee
How mush the cost testosterone replacement therapy in India?
Rs 100 a month
Why is the UK a richer than India?
UK is richer than India because India is not that rich and cannot afford to buy expensive building but the UK can. India is like Africa
How do you convert white money into black Money?
Black money is Total money minus White money. White money is Total money minus Black money. In todays India everyone have lots of Black Money with them. It is common phenomenon that most of the people converts or they want to convert their Black Money into White Money. 1. Black money can be convereted into White money by donations to PM funds, National emergency fund, Forming educational institutions and trusts. 2. Go to a Jeweller and give him the amount of Black money you want to convert it into White money. He would give you a Cheque back for the same amount less 4%. He would give you a Reciept to show that you have Sold Jewellery to him. On the amount of the cheque when you file your returns you will have to pay capital gain tax. The money is White now.
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How much total black money in India?
there are 1,456billion$ black money in India
What are the reasons of extinction of animals in India?
because illegal hunters have hunted so mush of that spices that the species has been endangered in India and they make money from the spices.
How much Black money in India?
Black money in India is $1,456 billion
Who is the highest black money holder from India?
there are many black money holders in india or in the whole world.but i also don't knew names of them, sorry.
How black money stored?
Black money is something used in India. It is what money that is earned on the black market is called. This money is often stored in Swiss banks.
What is the total black money in India WHERE IS?
Kin pa black money ha mereko nam bat
How mush money does god have or does he have infinite money?
God would not have a need for money
Who are the black money holders in India?
Political Leaders
What is the total black money present in India?
72lakshcrores
How do you overcome black money in India?
Plzz dont think that black money was not in the headline... If you want to over come from that.... I want to be the president of india..... Plz do something for me ............... Than i do for the country........... And i bit..... That black money will be converted into white money............ Than 1rs=5$
Which banks hold indian black money?
A Big Part Of India's Black Money Is Held By Swiss Bank.
Who is the person with most black money in India?
Rajeev Gandhi.
