Interest on kisan vikas patra & n.s.c.
This query is : Resolved
15 December 2013
Dear Sir,
My Parents has purchased K.V.P. & N.S.C. with my name.right now i an doing job. Is it compalsory to show interest amount of K.V.P & N.S.C. in my return. Also tell me on the date of maturity, the maturity amount is taxable ? I have to show this in my IT Return?. What is the exact effect of this K.V.P. & N.S.C. in IT Return.
Sagar
My Parents has purchased K.V.P. & N.S.C. with my name.right now i an doing job. Is it compalsory to show interest amount of K.V.P & N.S.C. in my return. Also tell me on the date of maturity, the maturity amount is taxable ? I have to show this in my IT Return?. What is the exact effect of this K.V.P. & N.S.C. in IT Return.
Sagar
15 December 2013
yes. you need to include interest in your in return of income. the post office etc wont deduct TDS. So you have to pay tax on this interest income on your own.
16 December 2013
you are welcome sagar.
16 December 2013
It should be shown under income from other sources head in itr.
17 December 2013
you are welcome sagar.
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