Re:India's Pointless Search for 'Black Money'
by discardorama on Thursday June 26, 2014 @02:06AM
(#7948313)
That may well be; but historically, farms were the perfect vehicle to launder ill-gotten wealth. You claim (on paper, and certified by greasing some palms) that your farm's output was $X*2, when in fact it was $X. Suddenly, the extra $X of money is counted as "agricultural income" and tax free (AFAIK).
[1] http://en.wikipedia.org/wiki/Farmers%27_suicides_in_India