Income different Income types of Income aay aay ke prkar

Income different Income types of Income aay

Private Income –

An income which is received by the private or personal people from different – 2 income sources or as a production factors. In this income, there is no involvement of government side or an income which is received from government services. So, we must add or subtracted some of item from GNP. Add these types of item like – pension, unemployment, health scheme, normal profit and abnormal profit or income from abroad etc. subtract item – income from government, other surplus, pension scheme or life insurance etc.

Private Income – NNP at factor cost or National Income + transfer payment + interest on public debt – profit of public sector – payment for social security.

Income

Personal Income –

A total income which is received by the public from different – 2 resources before paying any tax. There are lots of differences in national income or personal income. We must add lot of transfer or payment of amount in personal income.

Personal Income – national income + transfer payment + interest on public debt – tax on profit – payment for social security – undistributed profit of corporate.

Disposable Income –

An income which is left for expenditure or consumption after giving all tax. 

Disposable Income – personal income – direct tax.

Real Income –

When we calculate the national income on the base of any year like 1981 or 1991 or 2000-01 or 2011 etc. when we calculate the national income with this method, we are able to get a real picture of national income and growth. But when we calculate the income on current year price index then we add inflation & also these data not represent a real picture.