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.

soumitra basu (Expert) 15 July 2011
Interest is taxable in the year of receipt.

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inv. in kisan vikash patra

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