Income Tax Day, also known as Aaykar Diwas, is the day focused on celebrating and remembering the unique taxation system that was introduced in India by Sir James Wilson. Income Tax Day 2024 is celebrated on July 24. This annual commemoration looks back to the history of the Income Tax Act in India, its importance in building the country and also encouraging people to understand taxation and pay their taxes. With the new introductions and taxation changes in the Union Budget, people are sure to want to relook at the history and journey of the Income Tax in India. As we prepare to celebrate Income Tax Day 2024, here is everything you need to know about this day, how to celebrate Income Tax Day and more.

Income Tax Day 2024 Date

Income Tax Day 2024 is observed on July 24. This annual celebration is focused on the introduction of income tax in India by Sir James Wilson in 1860. The celebration aims to highlight just how important income tax is, in helping our country be better and Income Tax Day helps you do just that.

Income Tax Day Significance

Income Tax is one of the most important tools that can help citizens to contribute to the civic duties of the nation they were born in. The celebration of Income Tax Day, annually, is mainly focused on educating more people on the reality of taxation, how it helps build our country and the journey of income tax for individuals over the past few decades.

The most common way to celebrate Income Tax Day in July is to first ensure your IT returns have been filed. The celebration is also focused on appreciating income tax and the actual thought put behind the tool. Many people also take this chance to share Happy Income Tax Day jokes and memes as well. We hope Income Tax Day fills your day with the smile and happiness you deserve.

(The above story first appeared on LatestLY on Jul 24, 2024 11:03 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).