The problem of axisymmetric toroidal equilibrium with mass flows is studied using incompressibility of flows as the equation of state. It is shown that the assumption of incompressibility results in considerable simplification of the general problem. The equation is always elliptic and simple in form, hence analytically tractable expressions for shift of magnetic surfaces etc. in a large aspect ratio torus can be obtained. Further, it is argued that the condition for incompressibility of flows is well satisfied in most of the present and future Tokamaks employing high power neutral beam injection.