parallel economy Archives - H&R Block| Blog

parallel economy

December 14, 2016

Demonetisation Gives Birth to Innovative Laundering Methods

From Black Money Act and Income Disclosure Scheme to Demonetisation scheme, government has left no stone unturned to demolish parallel economy. However, hardcore tax evaders have taken this as an opportunity to come up with new and increasingly innovative ways to launder cash. Some of […]
November 23, 2016
Swiss Banks to Share Information with India

Swiss Banks to Share Information with India

Government has given another blow to parallel economy by signing an agreement with Switzerland for automatic exchange of information or AEOI. This agreement will help India in obtaining all information on transactions made by Resident Indians to Swiss banks. Indian government has no official estimation […]
November 23, 2016
Would demonetization of 500 and 1000 rupees note help to reveal the black money?

Would demonetization of 500 and 1000 rupees note help to reveal the black money?

The reigning government has delivered another massive blow on the parallel economy in the ongoing war against it. In an unprecedented move, government demonetized Rs. 500 and Rs. 1,000 notes with effect from November 9, 2016. Black money is like the legendary Greek monster kraken […]
November 14, 2016
Effect on Demonetization

Effect of Demonetization on Indian Economy

Some economists say demonetization will adversely impact India’s economic growth even as others believe the disruption is unlikely to be significant. Here is our take on how demonetization will impact Indian economy. 1) Effect on parallel economy The removal of these 500 and 1000 notes […]