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National Income Tax Day 2024 - July 24
July 26 , 2024
121 days
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- This day honours the establishment of income tax by Sir James Wilson in 1860.
- This first tax was intended to tax income from different sources, as stated in the Income Tax Act's Section 2(24).
- But the nation's tax system was genuinely revolutionised by the Comprehensive Income-tax Act of 1922.
- In 1924, the Central Board of Revenue Act further strengthened this structure by constituting the Board as a statutory body.
- Group A officers were recruited in 1946 and had their initial training in Bombay and Calcutta.
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