| Black money refers to money removed from the official economy (via corruption, bribery, tax evasion, etc.) and stored in terms of cash within or outside of the country. Any monetary transaction which is done in cash and not shown officially on any documents is source of generation of black money.
Real estate is market in which sources confirms that 50 % business are done in cash. Most of real estate developers do so in order to save tax which is actually wrong...............................................Full Article: Source
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