Income Tax Day – July 24
▪ Observed on: July 24 annually
▪ Theme: Responsible Taxation. Resilient Nation.
▪ Commemorates: Introduction of Income Tax in India in 1860 by Sir James Wilson during the British Raj.
▪ Symbolizes India’s fiscal growth, voluntary tax compliance, transparency, and digital transformation in taxation.
▪ Historical Milestones:
✓ 1860: Income tax introduced to finance British war expenses.
✓ 1922: Income-tax Act enacted – formalized the tax structure.
✓ 1924: Central Board of Revenue Act established statutory tax administration.
✓ 1961: Income Tax Act, 1961 came into existence.
▪ Digital Advancements
✓ 1981: Start of computerization of income tax processes.
✓ 2009: Launch of Centralized Processing Centre (CPC) for efficient and jurisdiction-free return processing.
✓ 2020: Introduction of the ‘Vivid se Vishwas’ scheme to reduce litigations and generate
government revenues.
