Investment in Kisan Vikas Patra

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Querist : Anonymous

Querist : Anonymous (Querist)

23 March 2011 Dear Sir,
Is investment in Kisan Vikas patra eligible for dedcution u/s 80C

Thanks in advance

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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23 March 2011 No its not eligible u/s 80C

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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23 March 2011 agreed, not deductible, but NSC of post is eligible investment

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
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23 March 2011 Kissan vikas patra will not be covered under 80 C

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Rasesh

Rasesh (Expert)
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23 March 2011 KVP not eligible under 80C

NSC and Post office Term Deposit for 5 years covered under 80C

Querist : Anonymous

Querist : Anonymous (Querist)

23 March 2011 But sir, will NSC and 5year recuuring deposit done in the name of wife will be eligile for 80C.

Secondly what if first name is my wifes name and second name is my name, then can I claim deduction for that NSC or REcurring deposit

Rasesh

Rasesh (Expert)
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23 March 2011 No

Instead invest in PPF account. Investment made in your wife' name will be eligible for 80C deduction.

Querist : Anonymous

Querist : Anonymous (Querist)

23 March 2011 Sir, is 5 year monthly recurring deposit in post office eligibe for deduction u/s 80C

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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25 March 2011 No.. recurring deposit is not eligible. 5 years post office deposit is eligible.

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