Income tax in India was introduced by:

A. William Jones

B. James Wilson

C. Nicholas Kaldor

D. Mahavir Tyagi

Answer: Option B

Solution(By Examveda Team)

The 19th century saw the establishment of British rule in India. Following the Mutiny of 1857, the British government faced an acute financial crisis. To fill up the treasury, the first Income-tax Act was introduced in February 1860 by James Wilson, who became British-India's first Finance Minister.