Kisan Vikas patra -Deduction
This query is : Resolved
01 January 2010
kindly let me know under which section deduction for Kisan Vikas Patra is available ?
01 January 2010
It is not an eligible investment for deduction purpose under the Income tax Act,1961. However, on maturity of the deposit, principal is tax free and interest is taxable. Tax will not be deducted from interest.
01 January 2010
agree. Post has only NSC which is dedectible u/s 80C
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