Who introduced the first Income-tax Act in British India in February 1860?
ALord Curzon
BLord Dalhousie
CLord Canning
DJames Wilson
Answer & Solution
Correct answer: D. James Wilson
James Wilson, British India's first finance minister, introduced the 1860 Act to fill the treasury after the Mutiny of 1857.
Keep practising Income-tax Basic Concepts
Browse all Income-tax Basic Concepts questions for CA Inter, or explore more Taxation topics.
Related questions
Which section governs deduction for charitable contributions?A deduction for medical insurance premium falls under which section?Which section allows a deduction for interest on a student loan?The Lumbini pillar inscription of Ashoka records tax relief to one-eighth instead of what?Choosing the New Tax Regime's reduced rates means giving up what?Late fees for delayed filing of a return are payable under which section?Under section 270A, misreported income attracts a penalty of what share of the tax?Scrutiny assessment is made under which section?