Car Sales Reveal Clues

09.05.2016 • Emerging Markets

From Vivek Kaul’s Diary (IND) – In a country where around 1,390,000 individuals actually pay some income tax, 2,534,000 cars are sold during the course of the year. This basically tells us that many people who are buying cars are not paying any income tax. This could be because of two reasons. One reason could be that those earning income from agriculture, which is tax free, are buying cars. The other and the more likely reason is that cars are being bought with money on which income tax has not been paid i.e. cars are being bought with black money.

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