OTHERS (MISC)
Days & Themes
India Marks 167th Income Tax Day on 24 July
24 July is observed annually across India as Income Tax Day (Aaykar Diwas), marking its 167th edition.
The date commemorates Sir James Wilson's introduction of income tax in British India on 24 July 1860.
Note: The Income Tax Act, 2025 comes into effect from 1 April 2026, replacing the legacy Income-tax Act of 1961.
The date commemorates Sir James Wilson's introduction of income tax in British India on 24 July 1860.
Note: The Income Tax Act, 2025 comes into effect from 1 April 2026, replacing the legacy Income-tax Act of 1961.
Key Facts / Static GK
Introducer of Income Tax in India: Sir James Wilson (1860)
New Act Replacing 1961 Legislation: Income Tax Act, 2025 (Effective 1 April 2026)
New Act Replacing 1961 Legislation: Income Tax Act, 2025 (Effective 1 April 2026)
Practice Quiz — 25 July 2026
Q1. Who has recently assumed charge as the Interim President of the International Chess Federation (FIDE)?
Answer: (C) Viswanathan Anand — Five-time World Chess Champion Viswanathan Anand has officially taken charge as the Interim President of FIDE following sanction measures against Arkady Dvorkovich.
Q2. What is the maximum central grant allocated per park under the newly approved BHAVYA–Rasayan Scheme?
Answer: (D) ₹1,000 crore — Under the BHAVYA–Rasayan scheme, the Central Government will provide a grant of up to ₹1,000 crore per chemical park, while requiring a minimum state contribution of ₹500 crore per park.
Q3. Which of the following provisions is proposed in the amended draft of the Public Examinations (Prevention of Unfair Means) Act?
Answer: (B) Minimum imprisonment of 5 years for paper leakage — The proposed amendments mandate a minimum of 5 years imprisonment (up to 10 years) and maximum fines of up to ₹10 crore for individuals implicated in paper leaks.
Q4. Which research institute developed the 'DeepDATA' application for digital documentation of deep-sea fish diversity?
Answer: (B) ICAR-Central Marine Fisheries Research Institute (CMFRI) — ICAR-CMFRI based in Kochi developed the 'DeepDATA' app under the Deep Ocean Mission supported by the Ministry of Earth Sciences.
Q5. Which existing institution in Bhimavaram will be upgraded to establish Andhra Pradesh's first private women's university?
Answer: (A) Sri Vishnu Engineering College for Women — Andhra Pradesh approved the establishment of Vishnu Women's University by upgrading Sri Vishnu Engineering College for Women in Bhimavaram.
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