Income tax in India was introduced by

Answered
  • Sir Charles Wood
  • Lord MacHale    
  • James Wilson     
  • William Jones
Monis Rasool Professor Asked on 28th April 2015 in Finance,   General Knowledge.
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    James Wilson

    Income tax in India was introduced by James Wilson. In 1860 James Wilson India’s first finance member,introduced first Income Tax Act.  In present time Income tax is an annual tax and is one of the various ways of raising revenue for the Government. Income tax is direct tax which paid by Individual to the Central Government of India.

    Monis Rasool Professor Answered on 2nd May 2015.
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