Income Tax Day 2023: Why IT Department celebrate this day as Aaykar Diwas - Know significance and other details

Income Tax Day, also known as Aaykar Diwas, is celebrated by Income Tax Department every year on July 24. The day is celebrated on July 24 as it was on this day in 1860 when Sir James Wilson introduced income tax for the first time in India. This step was taken to compensate the British government for the losses incurred during the First War of Independence in 1857. The first Income Tax Day in India was celebrated on July 24, 2010.

The proper framework Income Tax Act was designed in 1922. In 1924, a statutory body, the Central Board of Revenue was established to monitor the functions and responsibilities of the department. In 1963, a classified Board for direct taxes called the Central Board of Direct Taxes (CBDT) was introduced under the Central Board of Revenue Act.

 
Income Tax Day 2023: Celebration 

Income Tax Day is celebrated with a number of outreach programmes and events designed to promote tax payments and educate future taxpayers about the importance of tax payments. In addition, events like a half marathon, cyclotron, distribution of board games on tax literacy to children and young adults, cultural programmes and inauguration of caricature exhibitions are also held.

 Income Tax Day 2023: Messgae and Quotes

There's just one thing I can't figure out. My income tax! - Nat King Cole

"Today, it takes more brains and effort to make out the income-tax form than it does to make the income." - Alfred E. Neuman
 
 The hardest thing in the world to understand is the income tax." - Albert Einstein