Income Tax Day- July 24th

July 26, 2023

The IT day is celebrated every year on 24^thJuly to spread awareness around the importance of taxes and encourage more and more people to pay taxes for the development of the nation.
In 1860, on July 24^th, Sir James Wilson introduced the concept of income tax for the first time ever in India. This initiative was taken to compensate the loss during the first war of Independence (1857) in the British rule.
In 2010, Aaykar Diwas was celebrated for the first time on July 2010 to acknowledge 150 years of income tax in India.