When was the first formal income tax introduced in India?

• 1857

• 1860

• 1886

• 1922

Who introduced the first income tax in India?

• Lord Dalhousie

• Sir James Wilson

• Raja Chelliah

• Kautilya

Which ancient Indian text mentions the levying of taxes by kings?

• Rigveda

• Arthashastra

• Manusmriti

• Ramayana

What major change in tax administration occurred in 1922?

• Introduction of the Goods and Services Tax (GST)

• Enactment of the Indian Income Tax Act, 1922

• Bifurcation of the Central Board of Revenue

• Introduction of faceless assessments

In which year did the current Income Tax Act come into force?

• 1961

• 1962

• 1986

• 1991

What was the purpose of the Income Tax Investigation Commission appointed in 1956?

• To introduce GST

• To explore and close loopholes in the tax system

• To simplify the income tax filing process

• To propose tax exemptions for industries

What major economic event led to significant tax policy changes in 1991?

• Introduction of VAT

• Liberalization of the Indian economy

• Implementation of the Income Tax Act 1961

• Introduction of the Kelkar Committee recommendations

Which committee's recommendations led to the introduction of major tax reforms in 1986?

• Kelkar Committee

• Raja Chelliah Committee

• Mahavir Tyagi Commission

• Law Commission

What was a key feature of the Goods and Services Tax (GST) introduced in 2016?

• It replaced direct taxes

• It unified the indirect tax structure across India

• It abolished the income tax

• It was implemented only for the state of Maharashtra

What was the aim of the faceless assessment scheme introduced in 2019?

• To increase tax rates

• To centralize tax administration

• To reduce corruption and increase transparency

• To abolish the income tax department