Current Affairs - Important Days - Discussion

Income Tax Day is observed every year on July 24 to commemorate the introduction of income tax in India by Sir James Wilson on July 24, 1860. In 2026, the observance marks 167 years of India's income tax system. The Central Board of Direct Taxes (CBDT) officially began celebrating the day in 2010 to recognise the contributions of honest taxpayers and promote tax awareness. The occasion also highlights the transformation of India's tax administration from a paper-based system to a modern digital platform featuring online ITR filing, faceless assessments, e-verification, pre-filled tax returns, and faster refund processing, making compliance simpler, transparent, and taxpayer-friendly.