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Forum Home > Republic Of India > '150 Years Of Income Tax' Commemorative Coins

kidromeo
Site Owner
Posts: 489

We may soon see a coin commemorating '150 Years Of Income Tax'  as first reported by our forum member Kunal Chatterjee.


Report:

Income Tax department has decided to celebrate 24th July, as the annual Income Tax Day from this year, to mark 150 years of existence of this levy.


“Since income tax was first levied as a duty in the year 1860 and the authority to levy that duty came into force on July 24 of that year, it is proposed to celebrate this day as the Income Tax Investiture Day,” a finance ministry official said.


On July 24, 2010, the department will hold a function in the national capital, which would be inaugurated by the Finance Minister Pranab Mukherjee.


“On this day, some officers would be awarded. Besides, formal logo of income tax department will be adopted,” he said.


The income tax department would also celebrate its 150th year of existence from 24th July this year to 24th July next year.


During the year, the department plans to have a commemorative stamp and coins.


Source: taxguru.in
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"Coin collecting is the only hobby in the world that you can
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July 14, 2010 at 2:52 PM Flag Quote & Reply

Ramkumar
Member
Posts: 24

Was this coin actually released? There is no news about this after 24 July 2010. Can anyone give any feedback?

September 21, 2010 at 10:00 AM Flag Quote & Reply

kidromeo
Site Owner
Posts: 489

Haven't heard anything about this proposed coin after this report. It might well be a late release like the ONGC commemorative or a NCLT issue like Bhagat Singh.

--
"Coin collecting is the only hobby in the world that you can
spend all the money in the world and still have some left over" 
September 22, 2010 at 2:48 AM Flag Quote & Reply

shrini
Limited Member
Posts: 104
today(23-2-11) i saw the news about this coin in the tamil news paper(daily thanthi) that this coin s going to be released on 28th of this month in parliment by pranab mukarji, before he submits the budjet, and soon there wil be a 5 rupee coin of it too:-)
February 23, 2011 at 12:58 AM Flag Quote & Reply

Satyaprakash Gorantiwar
Limited Member
Posts: 37

http://in.news.yahoo.com/rs-150-coin-soon-20110222-045100-914.html

Is there on yahoo news also.

February 23, 2011 at 1:26 AM Flag Quote & Reply

Mohamed Ibrahim
Limited Member
Posts: 100

me too i saw ina a tamil news paper about 150 years of income tax to be released

200 coins of Rs.5 /- deno. will be distributed in the function i.e 5 Rs. coins are to be given to the member of parliment (M.P)

 

February 23, 2011 at 3:12 AM Flag Quote & Reply

Mohamed Ibrahim
Limited Member
Posts: 100

i guess they will give the coins to each MP because the coins is to be released in the parliment or to the  Income Tax officer

 

 

February 23, 2011 at 3:15 AM Flag Quote & Reply

kidromeo
Site Owner
Posts: 489

I have heard that the NCLT coin that will come in the sets will be of Rs.150 denomination like Rabindranath Tagore NCLT.

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"Coin collecting is the only hobby in the world that you can
spend all the money in the world and still have some left over" 
February 23, 2011 at 4:46 AM Flag Quote & Reply

ma
Limited Member
Posts: 4

New Delhi: For the first time in the country's minting history, government will issue coins of Rs 150, marking the number of years of taxation in India.The special coins, to be released by Finance Minister Pranab Mukherjee before his Budget speech, will also be brought out in Rs 5 denomination on the occasion of completion of 150 years, from 1860 to 2010, of the Income Tax department.

This is the first time that coins of Rs 150 denomination are being minted by the government. The Department of Economic Affairs under the Finance Ministry recently notified the order.

The Rs 150 coin, made of an alloy of Silver, Copper, Nickel and Zinc, will have an international design with ''Satyameva Jayate'' and ''India'' on the front side while a portrait of ''Chanakya and lotus with honeybee'' on the reverse side.

The Rs 5 coins will also be minted in the same fashion. While 200 coins will be minted in Rs 150 denomination, 100 such coins of Rs 5 will be issued.

"The Income Tax department celebrated 150 years of taxation in the country last year and the these coins, especially the one in Rs 150 denomination will be minted for the first time," a senior I-T official said.

 


February 23, 2011 at 7:28 AM Flag Quote & Reply

suvi
Limited Member
Posts: 17

i read it in 2day news paper date 23/2/2011 in english as wel as in hindi. There was nothing abut the quantity of the coin. i thought is going to be like another booking coming in near future. not fair it wolud be so nice to have that kind of coin.

February 23, 2011 at 8:47 AM Flag Quote & Reply

Abid
Limited Member
Posts: 1

Could anyone tell me if I can get hold of one set of the 150 rs coin.

Edit: See Forum Rules

February 23, 2011 at 1:45 PM Flag Quote & Reply

kidromeo
Site Owner
Posts: 489

@ma The news article that you quoted is from PTI source and it's been in buzz in all major news media with headlines that India is going to mint 150 Rupees denomination for the first time. I guess Tagore's 150 Rupees NCLT coins don't exist for them :P Also the case might be that since the coin was supposed to be issued last year, well before Tagore's coins, the quotations of I.T. and ministry officials were made then.

Another thing that puzzles me is the quantity of mintage mentioned. If the said mintage figures are true then we will have another set a la 1997 Inter-Parliamentary Conference.

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"Coin collecting is the only hobby in the world that you can
spend all the money in the world and still have some left over" 
February 24, 2011 at 6:51 AM Flag Quote & Reply

kidromeo
Site Owner
Posts: 489

@Suvi Don't trust conventional news media to serve accurate numismatic facts and figures as they have a history of erronous reporting.

@Abid Yes, you can :D

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"Coin collecting is the only hobby in the world that you can
spend all the money in the world and still have some left over" 
February 24, 2011 at 7:00 AM Flag Quote & Reply

kansal888
Limited Member
Posts: 12

Dear Friends

Some senior officer of IT department might have issued a statement indicating that this is first Rs150 coins (without realizing that Tagore was the first Rs 150 coin)

All the newsitems were taken from the same source

Regards

Sanjay Kansal

February 24, 2011 at 10:12 AM Flag Quote & Reply

Ramkumar
Member
Posts: 24

Today, Pranab Mukherjee finally released the commemorative coin on 150 Years of Income tax. Please refer to the online edition of the Times of India for further details

February 26, 2011 at 9:51 AM Flag Quote & Reply

kansal888
Limited Member
Posts: 12

Dear Friends

In the coin, Chanakya & Lotus are side be side. Chanakya is looking towards lotus. IT Department is like a bee. It extracts a small amount of nectar (tax) from each person.

Regards

Sanjay Kansal

February 26, 2011 at 9:57 AM Flag Quote & Reply

kidromeo
Site Owner
Posts: 489

Ramkumar at February 26, 2011 at 9:51 AM

Today, Pranab Mukherjee finally released the commemorative coin on 150 Years of Income tax. Please refer to the online edition of the Times of India for further details

Thanks for the release heads up :)

Posted a blog post from PIB press release.

--
"Coin collecting is the only hobby in the world that you can
spend all the money in the world and still have some left over" 
February 26, 2011 at 11:40 AM Flag Quote & Reply

kidromeo
Site Owner
Posts: 489

Here is the picture of the 150 Rupees coin :)

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"Coin collecting is the only hobby in the world that you can
spend all the money in the world and still have some left over" 
February 26, 2011 at 12:18 PM Flag Quote & Reply

kidromeo
Site Owner
Posts: 489

Well, I see the coin is dated 2010 and hence I see the government and IT press releases were very right in their statements that this is the first 150 Rupee coin denomination of India as Tagore's coins are dated 2011.

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"Coin collecting is the only hobby in the world that you can
spend all the money in the world and still have some left over" 
February 27, 2011 at 4:40 AM Flag Quote & Reply

KUNAL CHATTERJEE
Member
Posts: 51

kidromeo at February 27, 2011 at 4:40 AM

Well, I see the coin is dated 2010 and hence I see the government and IT press releases were very right in their statements that this is the first 150 Rupee coin denomination of India as Tagore's coins are dated 2011.

Rony,

I think, we are judging it a little bit wrongly. The periods mentioed on the coins are the periods we are observing & not the releasing date. So, from this point of view "Rabindranath Tagore" coin was announced first to release the first coin of Rs.150/-.

March 6, 2011 at 12:58 AM Flag Quote & Reply

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