2011 - Income Tax: 150 Years of Building India | Commemorative Coin

The first release function of 2011 saw the release of commemorative coin on Income Tax: 150 Years of Building India.

The Income Tax department commemorates the 150th anniversary of income tax in India, marking a significant journey that spans three centuries. The genesis of this tax can be traced back to a bill introduced by James Wilson, the first Finance Member in Council, which received approval from the Governor General of India on 24th July 1860.

Over these 150 years, the Income Tax department has been an integral part of India's evolution, adapting to tremendous global changes. From its inception, when it generated a meager Rs.1.33 crore in 1860-61, to the substantial sum of about Rs.380 thousand crore in 2009-10, the department has played a crucial role in mobilizing resources. These revenues have been instrumental in the Government of India's efforts to uplift the population from poverty, disease, and misery, propelling the nation towards becoming strong and self-reliant.

As we celebrate this significant milestone, the Income Tax department rededicates itself to the people of India. With an avowed objective of mobilizing optimum resources, the department aims to contribute to building a modern, developed, vibrant, and prosperous nation. In its 150th year, the department reaffirms its commitment to serving the people and facilitating the nation's progress towards a brighter future.

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