Income Tax Day 2026 observed on July 24

Exam-focused facts from the 26 July 2026 current affairs briefing.

Key facts

Income Tax Day is observed annually on July 24.
In 2026, it marks 167 years since the introduction of income tax in India.
Income tax was introduced in India in 1860 by Sir James Wilson, the first Finance Member of British India.
The official observance of Income Tax Day began in 2010 when the Central Board of Direct Taxes (CBDT) marked 150 years of income tax.
The Income Tax Act of 1961, effective from April 1, 1962, is the backbone of India's direct tax law.