How does your salary compare to that of everyone else?
Have you ever wondered how your pay packet compares with the rest of the country?
There may be a way to find out where you stand if you are a taxpayer. The income tax department recently released data on salaried income filed by individuals on an aggregate basis for the financial year 2012. While this ignores anybody who doesn’t file income tax returns, it does give you an idea of everybody else who makes money from a salary and pays taxes on it.
For the calculations below, we look only at the 1.1 crore individuals who reported a salary income and filed an income tax return. If your salary is greater than Rs.4 lakh per annum, you are better off than a majority of them.
There’s a calculator below if you want to know exactly how well you are doing. If the answer surprises you, remember that nearly half of India lived on less than Rs.38 a day in FY12. That’s less than Rs.14,000 a year.