If the buyer only reports $50,000 on the books and pays $150,000 under the table, then there is a black money transaction worth $150,000. As another example, consider a property buyer who purchases land valued at $200,000. That store is transacting in black money, as it would not pay tax on the unrecorded sales. Suppose a store accepts cash for its merchandise and does not issue receipts to its customers. In its simplest form, black money is money on which tax is not paid to the government.
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