Question

WHEN TAX PAYING SYSTEM WHEN WAS IT STARTED OR WHY

Answer 1

Answer:

After the Mutiny of 1857, the British government faced an acute financial crisis. To fill the treasury, the first Income-tax Act was introduced in February 1860 by James Wilson (British India's first finance minister).

Answer 2

Answer:

After the Mutiny of 1857, the British government faced an acute financial crisis. To fill the treasury, the first Income-tax Act was introduced in February 1860 by James Wilson (British India's first finance minister). The tax was sometimes increased and sometimes had to be decreased as the revenue was so high that the people were not able to pay the taxes. The British, as they were getting a lot of money did not want to decrease the revenue rate. But the main point of creating a revenue/tax system was for filling the treasury   of the Britishers.