November 2, 2024

Income Tax Day

Celebrated every year on July 24 as the National Income Tax Day, or Aaykar Divas, to marking the historical development of tax administration in the country

  • This day commemorates the historical evolution of tax administration in India and the ongoing reforms that aim to enhance tax compliance and simplify the process for taxpayers.
  • Income tax was first levied as a duty in India in 1860.
  • Celebrated for the first time in 2010 marking 150 years of the introduction of Income tax in India.
  • This year marks the 165th occasion of National Income Tax Day.
  • Income tax is a tax levied by the government on the income earned by individuals and businesses throughout the fiscal year.
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