When was Income-Tax introduced?

Wrong! Try again.

Wrong! The correct answer is 1404.
In early times, the government often taxed a variety of goods and activities, including property, trade, and sometimes wealth. Administrators in England attempted to collect the first true Income-Tax, a tax on wages, in 1404, but the public quickly demanded its repeal, and all tax records were burned. Britain introduced I-T for the second time in 1799. This tax raised revenues for the Napoleonic Wars against France. But it was repealed in 1816. In 1842, Britain introduced another Income-Tax. By the end of the 19th century, Germany, the Netherlands, Sweden, Switzerland and Canada also introduced Income-Tax.

Correct!
In early times, the government often taxed a variety of goods and activities, including property, trade, and sometimes wealth. Administrators in England attempted to collect the first true Income-Tax, a tax on wages, in 1404, but the public quickly demanded its repeal, and all tax records were burned. Britain introduced I-T for the second time in 1799. This tax raised revenues for the Napoleonic Wars against France. But it was repealed in 1816. In 1842, Britain introduced another Income-Tax. By the end of the 19th century, Germany, the Netherlands, Sweden, Switzerland and Canada also introduced Income-Tax.

Wrong! Try again.

Wrong! The correct answer is Arthasastra.
Kautilya's Arthasastra was the first authoritative text on public finance, administration and the fiscal laws in this country. It is remarkable that the present day tax system is in many ways similar to the system of taxation in vogue about 2,300 years ago. According to Kautilya, the power of the government depended upon the strength of its treasury.
Kautilya, also known as Chanakya, was a shrewd political strategist of third century BC.

Correct!
Kautilya's Arthasastra was the first authoritative text on public finance, administration and the fiscal laws in this country. It is remarkable that the present day tax system is in many ways similar to the system of taxation in vogue about 2,300 years ago. According to Kautilya, the power of the government depended upon the strength of its treasury.
Kautilya, also known as Chanakya, was a shrewd political strategist of third century BC.

Wrong! Try again.

Wrong! The correct answer is 1860.
The history of Income-Tax in modern India dates back to 1860 when the first Income Tax Act was introduced by James Wilson who became (British) India's first finance member.
This Act lapsed in 1865. Thereafter Act-II of 1886 was the next landmark. The Indian Income Tax Act, 1922 came into being following the recommendations of the All India Income Tax Committee. The Act of 1922 remained in force till 1961.
In 1956 the Government referred the Act to the Law Commission to recast it. Income Tax Bill was submitted in the Lok Sabha in April, 1961. The Bill received the assent of the President on September 13, 1961.

Correct!
The history of Income-Tax in modern India dates back to 1860 when the first Income Tax Act was introduced by James Wilson who became (British) India's first finance member.
This Act lapsed in 1865. Thereafter Act-II of 1886 was the next landmark. The Indian Income Tax Act, 1922 came into being following the recommendations of the All India Income Tax Committee. The Act of 1922 remained in force till 1961.
In 1956 the Government referred the Act to the Law Commission to recast it. Income Tax Bill was submitted in the Lok Sabha in April, 1961. The Bill received the assent of the President on September 13, 1961.

Wrong! Try again..

Wrong! The correct answer is Bachelor Tax.
Mussolini believed that Italy could become a superpower if it multiplied its 40-million-odd population a couple of times over. So on December 20, 1820, Missouri imposed a bachelor tax on unmarried men between 21 and 50.
In 1718, Peter the Great of Russia, introduced a soul tax on all males – excepting the clergy and the nobles – to finance his military reforms.
Napoleon Bonaparte reintroduced salt tax to fund his invasion of Italy and interestingly the tax survived till 1949.

Correct!
Mussolini believed that Italy could become a superpower if it multiplied its 40-million-odd population a couple of times over. So on December 20, 1820, Missouri imposed a bachelor tax on unmarried men between 21 and 50.
In 1718, Peter the Great of Russia, introduced a soul tax on all males – excepting the clergy and the nobles – to finance his military reforms.
Napoleon Bonaparte reintroduced salt tax to fund his invasion of Italy and interestingly the tax survived till 1949.

Wrong! Try again.

Wrong! The correct answer is Central Board of Direct Taxes.
The apex body of the Income Tax Department is the Central Board of Direct Taxes - manned by the officers of the Indian Revenue Service - is the administrative head of the Income Tax Department and functions as a part of the Finance Ministry of the Government of India. The CBDT consists of one Chairman and six members.

Correct!
The apex body of the Income Tax Department is the Central Board of Direct Taxes - manned by the officers of the Indian Revenue Service - is the administrative head of the Income Tax Department and functions as a part of the Finance Ministry of the Government of India. The CBDT consists of one Chairman and six members.