Income tax in the United States income above £200. The tax proposal was developed in 1814. Because the treaty of Ghent was signed in 1815, ending hostilities and the need for additional revenue, the tax was never imposed in the United States. In order to help pay for its war effort in the American Civil War, Congress imposed its first personal income tax in 1861. It was part of the Revenue Act of 1861 (3% of all incomes over US $800). This tax was repealed and replaced by another income tax in 1862. In 1894, Democrats in Congress passed the Wilson-Gorman tariff, which imposed the first
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 is an Act of the Parliament of India. It aims to curb black money, or undisclosed foreign assets and income and imposes tax and penalty on such income. The Act has been passed by both the Houses of the Parliament. The Act has received the assent of the President of India on 26 May 2015. It came into effect from 1 July 2015. The goal of this law is to bring back the income