India s per capita income was 1 13 500. 370142 11 2019 tpl dated 12 9 2019 following table should be used for the cost inflation index.
India located in south asia is bordered by the bay of bengal the arabian sea and the indian ocean and is also bordered by the countries of pakistan bhutan china nepal myanmar formerly burma and bangladesh india is the world s 7th largest country by area with more than 1 3 billion residents.
Income graph of india. India the source for global inequality data. India s per capita income was 1 25 408. This represented a growth rate of 10 0 over the previous year.
Notified cost inflation index under section 48 explanation v as per notification no. Under the income tax act 1961 the percentage of income payable as tax is based on the amount of income you ve earned during a year. The tax applies to the range of income which is called income tax slabs.
The value for income share held by second 20 in india was 11 70 as of 2011. As of 2016 about 121 million households in india belonged to the middle income bracket earning a gross annual income between 7 700 and 15 400 u s. Disposable personal income in india averaged 25440473 14 inr million from 1950 until 2019 reaching an all time high of 206752290 inr million in 2019 and a record low of 91540 inr million in 1950.
It is expected to grow at the rate of 6 8. This is slower than its previous growth. Income tax brackets in india for fy 2020 21 ay 2021 22 updated on january 28 2021 20286 views.
Government of india ministry of finance income tax department hereby excludes any warranty express or implied as to the quality accuracy timeliness completeness performance fitness for a particular purpose of the site or any of its contents. Paying income tax is a duty of every indian citizen. This page provides india total disposable personal income actual values historical data forecast chart statistics economic calendar and news.
Income share held by second 20. Graph map and compare more than 1 000 time series indicators from the world development indicators. As the graph below shows over the past 28 years this indicator reached a maximum value of 12 70 in 1993 and a minimum value of 11 70 in 2011.
India s per capita income is expected to be 1 36 048. Open access high quality wealth and income inequality data developed by an international academic consortium. Data on ethnicity is not collected by the indian census although the.