India marks Income Tax Day on July 24, commemorating the introduction of income tax by Sir James Wilson in 1860 to cover losses from the 1857 revolt.
Income Tax Day: 166 Years Since India's First Tax Law
India's income tax turns 166. It began in 1860 as an emergency measure to fix a colonial budget hole — and grew into the system that funds the country today.
Every July 24, India marks Income Tax Day. The date commemorates 1860, when income tax was first introduced in the country by Sir James Wilson.
Why 1860?
The tax was imposed to help the government recover from the heavy financial losses of the 1857 revolt. It applied to incomes of British residents in India and was structured progressively, with higher rates on higher incomes.
Who Was James Wilson?
A British economist and the founder of the banking group that became Standard Chartered, Wilson is widely regarded as the father of income tax in India.
From 1860 to Today
The 1860 Act was originally passed for just five years. It eventually paved the way for the Income-tax Act of 1922, which created a structured system with defined tax authorities and a proper administrative framework — the ancestor of today's system.
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Support Our WorkWhy the Day Is Observed
The Income Tax Department began observing July 24 as Income Tax Day in 2010, marking 150 years of income tax in India. The day is used to recognise taxpayers and highlight reforms in tax administration. More on the department's observance at PIB.
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