Earnings bracket wise
This should help everyone understand the true picture of income brackets Indians fall in, where do viners belong?
True. Considering the salaries posted by the majority here, everyone is like a millionaire.
India is a lower middle-income country, check GDP/per capita, most people don't earn enough to file taxes.
Most of them do but don't file taxes. And the farmers & agricultural sector is a different ball game altogether with basically 0 tax rate
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This is only white money. Many Indians are filthy rich thanks to black money and don't even pay tax.
doodle
Stealth
a year ago
This seems super interesting, thanks for sharing. I'm in the first bracket (from the left) XD
This most likely doesn't include pure offline businesses, and even their employees who get cash salary, not to forget your famous chat panipuri wala, pg aunties at kota etc, 3-4 taxi owner uncles,
If you think about it if apple can sell gadgets worth 1bn usd in a year in India, or even the cumulative revenue of luxury retail. then we can't term India as low income country.
Easy example My neighbour has a "furniture factory" owns 4bhk bungalows, probably earns a more than a crore annually yet was rejected for a Honda civic loan according to his itr, ended up picking some other car all cash.
Wow in just 1 year number of people earnings more has drastically increased.
