विज्ञप्तियां उर्दू विज्ञप्तियां फोटो निमंत्रण लेख प्रत्यायन फीडबैक विज्ञप्तियां मंगाएं Search उन्नत खोज
RSS RSS
Quick Search
home Home
Releases Urdu Releases Photos Invitations Features Accreditation Feedback Subscribe Releases Advance Search
home  Printer friendly Page home  Email this page
English Release 22-September 2014
Date Month Year
  • President's Secretariat
  • President of India presented prizes and trophies to the winners of Rashtrapati Bhavan Football Tournament
  • Writers and Artists ‘In-Residence’ call on the President
  • President of India’s message on the eve of National Day of Saudi Arabia
  • Prime Minister's Office
  • Punjab CM calls on PM
  • Election Commission
  • General Election to Legislative Assemblies of Haryana & Maharashtra 2014 - Allotment of Broadcast/Telecast time to Political Parties – regarding
  • Min of Agriculture
  • Kharif Sowing Crosses 1015 Lakh Hectare Mark
  • Min of Defence
  • IAF Celbrates Commemoration of 50 Years as Part of 1965 Indo-Pak War
  • BRO Annual Chief Engineers’ Conference 2014 : A Curtain Raiser
  • Ministry of Finance
  • No Need to Open Another Bank Account to Avail of Benefits Under Pradhan Mantri Jan Dhan Yojana (PMJDY);
  • Auction for Sale (Re-Issue) of Government Stocks
  • Text of the Intervention Made by the Minister of State of Finance in the G20 Finance Minister’s Meeting on International Tax; Calls for Implementation of the New Global Standards on Automatic Exchange of Information with A Common Timeline and with Coverage of as Many Countries as Possible
  • Min of Food Processing Industries
  • New Initiatives/ Developments of Ministry of Food Processing Industries
  • Min of Home Affairs
  • Security is the first and foremost requirement for development; says Union Home Minister
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket was US$ 95.35 per bbl on 19.09.2014
  • Ministry of Railways
  • Indira Gandhi Rajbhasha Award to Ministry of Railways
  • Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
  • Sonowal Inaugurates National Academy for Athletics and National Golf Academy at Thiruvananthapuram, Kerala
  • Minister of Skill Development, Entrepreneurship, Youth Affairs & Sports Sarbananda Sonowal congratulates Indian Medal Winners at Asian Games 2014
  • Ministry of Water Resources
  • Beki Flowing above Danger Mark in Assam
  • Min of Women and Child Development
  • A Two-Day Consultation by M/o Women & Child Development on National Nutrition Mission begins in New Delhi

Previous Date

 
Ministry of Finance07-December, 2012 18:29 IST
Interest Rate on Crop Loan; Interest Subvention Scheme for the Year 2011-12 Continued in 2012-13 as Well

The Interest Subvention Scheme is being implemented by the Government of India since 2006-07 to make short-term crop loans up to Rs. 3 lakh for a period of one year available to farmers at the interest rate of 7 per cent per annum. The Government of India has since 2009-10 been providing additional interest subvention to prompt payees farmers, i.e. those who repay their loans in time. The additional subvention was 1% in 2009-10, 2% in 2010-11 and 3% in 2011-12. Further, order to discourage distress sales, the benefit of interest subvention was made available in the year 2011-12 to small and marginal farmers having Kisan Credit Card (KCC) for a further period of up to six months post harvest on the same rates as available to crop loans against negotiable warehouse receipts for keeping their produce in warehouses. The Interest Subvention Scheme for the year 2011-12 has been continued in 2012-13 as well.

There is no provision under the Income Tax Act 1961 specifically for accounting “Gold Holding” for assessment of income tax.

Through Finance Act, 2012, a provision has been made in section 139 of the Income Tax Act, which inter-alia, provides that a person, being a resident other than not ordinarily resident in India within the meaning of clause (6) of section 6 of the Income Tax Act and who during the previous year has any asset (including any financial interest in any entity) located outside India or signing authority in any account located outside India, shall furnish, on or before the due date, a return in respect of his income or loss for the previous year in such form and verified in such manner and setting forth such other particulars as may be prescribed. Also a new Schedule FA has been inserted in Income Tax Return Forms ITR 2, ITR 3, ITR 4, ITR 5 ITR 6 and ITR 7 for assessment year 2012-13 wherein the assesee is required to give the details of the asset (including any financial interest in any entity) located outside India or signing authority in any account located outside India.

This was stated by the Minister of State for Finance, Shri Namo Narian Meena in a written reply to a question in the Lok Sabha today.

*****


DSM/RS/ka
(Release ID :90214)

Web Ratana This site is winner of Platinum Icon for 'Outstanding Web Content' Web Ratna Award'09 presented in April 2010
Site is designed and hosted by National Informatics Centre (NIC),Information is provided and updated by Press Information Bureau
"A" - Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi - 110 001 Phone 23389338
Go Top Top

उपयोग संबंधी शर्तें स्वोत्वाधिकार नीति गोपनीयता संबंधी नीति हाइपरलिंकिंग नीति Terms of Use Copyright Policy Privacy Policy Hyperlinking Policy