आयकर विभाग (ITD) दिवस 2025: 166वीं वर्षगांठ पर जानिए कर प्रणाली का विकास, संशोधित टैक्स स्लैब और नवीन बजटीय पहलियाँ

Income Tax Day 2025 – Celebrating 166 Years of India’s Tax Legacy

Every year on 24th July, India observes Income Tax Day (also called Income Tax Diwas) to commemorate the inception of income tax as a formal financial system in the country. The day marks the historical introduction of Income Tax by Sir James Wilson in 1860 to overcome financial stress following the 1857 revolt.

In 2025, we celebrate the 166th anniversary of Income Tax Day, recognizing not only the evolution of the Indian tax administration but also honouring the contribution of the Income Tax Department in supporting national development.

To provide a clear snapshot of this observance, here is a quick summary of important facts and figures around Income Tax Day and the Indian tax system as of 2025.

📘 Job/Event Information

Organization Name	Post Name	Total Vacancies	Qualification	Age Limit	Application Start & End Date	Application Mode	Official Website
Income Tax Department, Government of India	n/a (Event)	Not Applicable	Not Applicable	Not Applicable	24 July 2025	Not Applicable	incometaxindia.gov.in

📜 Historical Significance of Income Tax in India

The formal taxation system in India was introduced in 1860 under the British rule by Sir James Wilson. The aim was to mitigate the financial losses incurred due to the First War of Independence in 1857. Over the years, taxation has played a crucial role in nation building.

In the year 2010, the Government of India formally designated 24th July as Income Tax Day to celebrate the 150th anniversary of the tax system in India.

📌 What is Income Tax?

Income Tax refers to the direct tax levied on income earned by individuals and organizations in a financial year. The computation and collection of this tax are governed under the Income-tax Act, 1961.

Section 2(24) of the Act defines income to include:

• Salaries
• House property income
• Earnings from business or profession
• Capital gains
• Income from other sources (like interest, lottery winnings, etc.)

💼 Evolution of Tax Administration in India

• The Income Tax Act of 1922 was the first structured law, formalizing central authority for tax administration.
• The Central Board of Revenue Act, 1924 institutionalized appointing Commissioners in provinces.
• Later, the Income Tax Act, 1961 replaced the 1922 Act and continues to serve as the legal foundation for taxation in India.
• The push for modernization started in 1981 with computerization and took a major leap with the launch of the Centralized Processing Centre (CPC) at Bengaluru in 2009.

📊 Income Tax Collection Trends – 2025 Highlights

• Net Direct Tax Collection (till July 10, 2025): ₹5.63 lakh crore (down 1.34% YoY)
• This decline is due to a 38% increase in refund disbursements totaling over ₹1 lakh crore
• Gross Direct Tax Collection: ₹6.65 lakh crore – marking a healthy 3.17% YoY growth
• Income Tax Return (ITR) Filings: Over 9.19 crore returns filed (an impressive 36% growth in past 5 years from FY21)

📈 Year-wise Growth in Direct Tax Collections

• FY 2020–21: ₹12.31 lakh crore
• FY 2021–22: ₹16.34 lakh crore
• FY 2022–23: ₹19.72 lakh crore
• FY 2023–24: ₹23.38 lakh crore
• FY 2024–25 (provisional till 31 March 2025): ₹26.02 lakh crore

📑 Revised Tax Slabs – Union Budget 2025-26 (New Regime)

Under the new income tax regime, following tax slabs were proposed for individuals:

Income Range	Tax Rate
Up to ₹4 lakh	0%
₹4 lakh – ₹8 lakh	5%
₹8 lakh – ₹12 lakh	10%
₹12 lakh – ₹16 lakh	15%
₹16 lakh – ₹20 lakh	20%
₹20 lakh – ₹24 lakh	25%
Above ₹24 lakh	30%

Additionally, salaried individuals with annual income up to ₹12 lakh benefit from standard deduction resulting in zero tax liability.

📍 Key Budget 2025 Reforms

🔸 TDS & TCS Simplification

• TDS limit on senior citizens' interest income raised from ₹50,000 to ₹1 lakh
• Rent payment TDS limit increased from ₹2.4 lakh to ₹6 lakh/year
• Liberalized Remittance Scheme (LRS) TCS threshold increased to ₹10 lakh
• Delay in payment of TCS is no longer a crime, easing compliance

🔸 Strengthening Voluntary Compliance

• Withdrawals from National Savings Scheme (NSS) post 29 Aug 2024 are now tax-exempt
• Old tax regime contributors to NPS Vatsalya Account get deduction benefits

🔸 Simplification of Compliance

• Updated ITR filing deadline extended to 4 years
• Validity of charitable trust registrations extended from 5 to 10 years
• Taxpayers can now claim exemption on two self-occupied properties instead of one

📕 Income Tax Bill 2025 – A Step toward Simplification

The Income Tax Bill 2025 aims to replace the older Income Tax Act, 1961. The proposed bill intends to make the law simpler, reorganized, and aligned with modern tax objectives. Old or ambiguous provisions are planned to be removed, supporting transparency and clarity in tax administration.

🏛️ About the Central Board of Direct Taxes (CBDT)

CBDT is the apex authority for direct tax administration in India under the Department of Revenue, Ministry of Finance.

• Chairperson: Ravi Aggarwal
• Established: 1964
• Headquarters: New Delhi
• Motto: “Fund Roots and Bar”

🔚 Conclusion

Income Tax Day serves as a thoughtful reminder of India's robust tax framework and the silent yet powerful role played by taxpayers, authorities, and policy-makers. As we enter a new phase of tax simplification and economic transparency, observances like these reinforce the importance of compliance and national contribution.

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