Kisan Vikas Patra interest
This query is : Resolved
13 May 2020
Dear sir,
The interest earned on Kisan Vikas Patra, if not included on accrual basis year wise in the ITRs every year, be shown as lumpsum in the year of maturity? How to deal with such incomes? Pleas clarify.
Regards.
K. Chandrasekhar
The interest earned on Kisan Vikas Patra, if not included on accrual basis year wise in the ITRs every year, be shown as lumpsum in the year of maturity? How to deal with such incomes? Pleas clarify.
Regards.
K. Chandrasekhar
13 May 2020
Kisan Vikas Patra does not offer any income tax benefits to the investor. No deduction u/s 80C is allowed on investment and the interest received upon maturity/withdrawal is fully taxable.
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