Answer: July 24
Notes: The Income Tax department observes July 24 every year as Income Tax Day or ‘Aaykar Diwas’, to commemorate the introduction of income tax in the country. On the same day in 1860, Sir James Wilson introduced income tax for the first time in India, to compensate for the losses suffered by the British regime during the 1857 war of independence. ‘Aaykar Diwas’ was celebrated for the first time in 2010, to mark 150 years of income tax in India.
