"white money" = Money that has been received via legitimate means after paying appropriate taxes. Usually this stays in the bank. Only the necessary amount is c

"white money" = Money that has been received via legitimate means after paying appropriate taxes. Usually this stays in the bank. Only the necessary amount is carried in cash. "black money" = Money that has been tax evaded or received via illegal means. This is mostly kept in cash (in boxes, mattresses, hidden rooms) or converted to gold or bitcoins or foreign currency(via currency gray/black market) Example1: You earned 100 and were supposed to pay 20% tax. So the post-tax amount is 80. If you paid the tax, 80 is white money and 20 was paid to govt. If you did not pay the tax, you save 20 but entire 100 is your black money. Example 2: Black money - could be money received by accepting a bribe.