CAF-2 · Chapter 1 · Question 9 of 13
In the history of tax laws in the sub-continent, when was the first formal Income Tax Act introduced by the British Empire?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) B) 1860
Explanation
The British Empire introduced the first formal Income Tax Act of 1860 in an effort to end the budgetary deficit faced due to the war of independence of 1857.
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