any accrued interest in my computation of income for FY 2010

This query is : Resolved

CA Vipul Gothadiya (Querist)
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14 July 2011 Kindly Advice

I purchased Post Office KVP in AUGUST 2010. Do I need to include any accrued interest in my computation of income for FY 2010-11(Ass Yr 2011-12).

Some income tax computation programs are saying income from KVP'S purchase in AUGUST 2010 not applicable for financial yr 2010-11 whereas some programs are showing income at the rate 5% for the FY 2010-11.

Thank You

U S Sharma

U S Sharma (Expert)
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14 July 2011 No, you will get 1st interest credit after 2 years 6 months only,

http://taxworry.com/easy-chart-to-compute-accrued-interest-on-nsc-kvp/

CA Vipul Gothadiya

CA Vipul Gothadiya (Querist)
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14 July 2011 thanks sir

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