Before revision:  The Beta Prime distribution is appropriate to fit the collapsed data . A dynamical model based on a master equation with growth and reset terms is successful in explaining the observed distribution in a self-consistent manner, i.e. the growth and reset rates are evaluated from the same individual level data. Income distribution derived for other countries are following similar trends .
After revision:  The Beta Prime distribution is appropriate to fit the collapsed data and it is shown that distributions derived for other countries are following similar trends .