CURRENT AFFAIRS

Detailed explanation-1: -The Central Board of Direct Taxes (CBDT) celebrated the 159th Income Tax Day on 24th July 2019. It was on 24th July, 1860 that Income Tax was introduced for the first time in India by Sir James Wilson.

Detailed explanation-2: -Income Tax Day 2022: On July 24, 1860, income tax was introduced in India. The first Income Tax Day was celebrated on July 24, 2010. The Income Tax department observes July 24 every year as Income Tax Day or ‘Aaykar Diwas’, to commemorate the introduction of provision of income tax in the country.

Detailed explanation-3: -The Central Board of Direct Taxes is a statutory authority functioning under the Central Board of Revenue Act, 1963. The officials of the Board in their ex-officio capacity also function as a Division of the Ministry dealing with matters relating to levy and collection of direct taxes. Historical Background of C.B.D.T.

Detailed explanation-4: -An e-Calendar, 2022 was launched by Chairman, CBDT on the theme of Azadi Ka Amrit Mahotsav. It gives a glimpse of activities organized by the Department as a part of #AzadiKaAmritMahotsav celebrations.

Detailed explanation-5: -Central Board of Revenue bifurcated and a separate Board for Direct Taxes known as Central Board of Direct Taxes (CBDT)constituted under the Central Board of Revenue Act, 1963. For the first time an officer from the department became Chairman of the CBDT w.e.f. 1-1-1964.