When is Income Tax Day in india observed every year?

Daily Current Affairs

July 27th

July 26th

July 25th

July 24th

Correct Answer : Option (D) - July 24th

The Income Tax department observes July 24 every year as Income Tax Day or 'Aaykar Diwas', to commemorate the introduction of provision of income tax in the country.

History of Income Tax Day : On July 24, 1860, Sir James Wilson introduced income tax for the first time in India. Wilson did this to compensate for the losses suffered by the British regime during the first war of independence in 1857.

‘Aaykar Diwas’ was celebrated for the first time on July 24, 2010, to mark 150 years of income tax in India.

“Since income tax was first levied as a duty in the year 1860 and the authority to levy that duty came into force on July 24 of that year, it is proposed to celebrate this day as Income Tax Investiture Day,” a finance ministry official said in July 2010.

Income Tax Day celebrations : In the week preceding the occasion, several activities are undertaken by regional offices of the tax department. Outreach programmes are held across the country to promote tax payment as a value norm, and to sensitise potential taxpayers that paying taxes is an ethical duty of the citizens.

Income Tax department : Headquartered in New Delhi, the Income Tax department is responsible for direct tax collection for the Government of India. It functions under the Department of Revenue in the Ministry of finance, and is headed by an apex body called the Central Board of Direct Taxes (CBDT)..

Source : Hindustan Times

Published On : July 25, 2022

The Vital Role of the Liver :

The liver is a remarkable organ that plays a pivotal role in numerous bodily functions, including immunity, digestion, and metabolism. Any disruption or disease affecting the liver can have far-reaching implications, impacting not only the digestive system but also the kidneys, lungs, heart, and brain. Excessive fat accumulation in the liver, a condition known as non-alcoholic fatty liver disease (NAFLD), is a growing concern that can lead to serious health complications if left unchecked.

2024 Theme: “Keep your liver healthy and disease-free” :

This year’s theme, “Keep your liver healthy and disease-free,” emphasizes the importance of preventive measures and regular health check-ups to detect and address liver-related disorders early on. By promoting a proactive approach to liver health, the campaign aims to empower individuals to make informed choices and adopt lifestyle habits that can safeguard their liver’s well-being.

The Origins of World Liver Day :

Introduced by the World Health Organization (WHO), World Liver Day was first formally commemorated on April 19, 2012. Since its inception, the observance has gained significant traction, with health organizations, hospitals, and liver treatment institutes worldwide organizing various programs and activities to raise awareness and support those affected by liver diseases.

Published On : April 19, 2024

Q .

Recently (April 16, 2024) 'Tirangi Barfi' has been given GI tag, it is related to which city?

Patna

Kanpur

Lucknow

Varanasi

Correct Answer : Option (D) - Varanasi

In a significant development, two iconic products from the historic city of Varanasi, Uttar Pradesh, have been granted the coveted Geographical Indication (GI) status. On April 16, 2024, the GI Registry Office based in Chennai announced that the Tiranga Barfi of Varanasi and the Dhalua Murti Metal Casting Craft have been included in the prestigious GI category.

Uttar Pradesh’s GI Product Tally Reaches 75 :

This latest addition has further strengthened Uttar Pradesh’s position as a leader in the GI domain. With the inclusion of Tiranga Barfi and Dhalua Murti Metal Casting Craft, the total number of GI products from the state has reached an impressive 75, comprising 58 handicrafts and 17 agricultural and food products. This remarkable achievement sets a new record for the highest number of GI tags associated with a particular state in India.

The Iconic Tiranga Barfi :

Steeped in the rich history of India’s independence movement, the Tiranga Barfi holds a special place in the hearts of Varanasi’s residents. During the struggle for freedom, this tricolored sweetmeat was ingeniously crafted to facilitate secret meetings and information exchange among revolutionaries. The saffron hue is derived from saffron, the green color comes from pistachio, and the white shade is created using khoya and cashew nuts.

Published On : April 19, 2024

Q .

Hindustan Zinc has reached what position in silver production globally?

First

Second

Third

Fourth

Correct Answer : Option (C) - Third

Key Points :

Hindustan Zinc is now the 3rd largest silver producer globally, with highest silver annual production, up 5% y-o-y

Holds 2nd largest zinc reserves and resources globally

Industry leading production growth rate with best-ever annual metal production

Highest-ever quarterly refined metal production for Q4 FY24, up 6% sequentially

1st decile of the global zinc mines cost curve; lowest annual COP in last 3 years at US$ 1,117/MT

Quarterly Revenue up by 3% and EBITDA up by 2%

Ranked first globally in S&P Sustainability Assessment in Metals and Mining sector

Published On : April 19, 2024