inv. in kisan vikash patra

prithwish sengupta (Querist) 11 July 2011 This query is : Resolved
is investment in kisan vikash patra allowable for tax benefit u/s 80c??? and what about interest on k.v.p.?? is it taxable???

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prabhakar singh (Expert) 11 July 2011
80c benefit unavailable.
interest earned is taxable.

A V Vishal (Expert) 11 July 2011
Rebate under section 80 C not admissible.
Interest income taxable but no TDS
Deposits are exempt from Wealth tax.

Raj Kumar Makkad (Expert) 11 July 2011
I do agree with vishal.

Amit Soni (Expert) 12 July 2011
rebate u/s 80c is available only on NSC. No any other P.O. deposits are eligible for this.

S. M. Chouhan (Expert) 12 July 2011
My friend there is no any rebate u/s 80C on investment in KVP and the interest earned is taxable income under the income from other sources.