Various Threshold Limits under the Income Tax Act

Individual, HUF / AOP / BOI / Artificial corporation's highest income, no income tax

Maximum income of income tax reachable by the elderly (over 60 years old in the previous year, 80 years old on the last day of the previous day)

The highest income of residents without income tax in the hands of super elderly people

3A. If net profit is higher than rupee, additional fee should be charged with 10% of income tax. 50 Rach, but it does not exceed Rs. 1 rupee (for marginal relief) for individuals, HUF, AOP, BOI, artificial judicial personnel. 500 thousand rupees

If net profit exceeds Rs, additional charge will be charged at 15% of corporate tax. Individuals, HUF, AOP, BOI, 1 gram of artificial judicial personnel (by marginal relief)

4A. If net profit exceeds Rs, additional charge will be charged at 12% of corporate tax. In the case of a company, cooperative, or local government (by marginal relief), it is 1 rupee. 10 rupees

If the net profit exceeds Rs, additional charge will be charged at 7% of income tax. If the net profit exceeds Rs, it will be 10 million rupees and the tax rate will be 12%. 10 grams of domestic enterprises (by marginal relief)

If net profit exceeds Rs, additional charge will be charged at 2% of corporate tax. If the net profit exceeds Rs, it will be 10 million rupees and the tax rate will be 5%. 1 billion rupees from foreign companies (by marginal relief)

7. Tax rate of domestic company is 25%, total sales or total turnover of 2016-17 fiscal year does not exceed Rs. 250 rupees (Influence of marginal relief) 250 million rupees

Taxpayers are advised to be allowed to receive a tax refund of up to Rs. 50,000 with a total income of 2,000 rupiah. For taxpayers with incomes up to 50,000 rupees, this will increase the basic threshold for a tax trigger to 200 thousand rupees. However, the total income of taxpayers over 50,000 rupees has not decreased. At the same time, FM imposes a 10% income tax increase on people with incomes over 100 rupees. This number is only 42,800. The government we have seen takes the position of "poverty alleviation and wealthy people". In addition, FM in the budget for 2013 attracted a lot of attention for women. Among the many proposals noteworthy is the "Nirbhaya" fund that allocates 1,000 cores. It is designed to protect women. He also announced the establishment of public sector banks for all women with a distribution of 100 rupees.

In addition to UBI, another option is that Mr. Milton Friedman, a Nobel Prize-winning economist, called negative income tax. Under current tax law, we operate active income tax. There, a family is taxed on the progressive income tax system exceeding a certain threshold. Under the negative income tax system, people with incomes below the critical point will receive a certain percentage difference from the government. Technology like block chains created an unprecedented opportunity to test decisions on distributed resource allocation. Use the distributed ledger system to ensure that funds are only allocated to those who have completed productive work, as determined by changing conditions or priorities monitored by the artificial intelligence engine.