KVP (KISAN VIKAS PATRA ) Matured in F.Y. 2024-25

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A friend's Kisan Vikas Patra (KVP) investment of Rs 8 lakh matured in FY 2024-25, yielding Rs 16 lakh including Rs 8 lakh interest. The user is seeking advice on how to declare this interest, which accrued over 8 years, on an accrued basis for the current financial year. The discussion suggests filing updated returns for previous years to declare accrued interest before providing feedback in AIS, which is considered a better approach to avoid potential tax notices.

Javed Memon

Javed Memon (Querist)

03 September 2025 Respected Sir

My Freind Invested in KVP - kisan Vikas Patra ( Post office Savings Scheme ) approximately 8 years Before of Rs. 8 Lakh
KVP matured in F.Y. 2024-25 amount of Rs 16 Lakh. out of this amount 8 lakh Rs. is interest
this Entire Interest amount 8 Lkah Rs. Shown in F.Y. 2024-25

He never Filled Return earlier.

My question is this interest amount is For all 8 year So Can i Show In F.Y. 2024-25 only One Year interest on accrued Basis that is Approximately 1 lakh and in AIS give Feedback that other Interest i.e. 7 lakh Rs. is For Previous Year and i will also File Previous 3 Year Return u/s 139(8A) Showing Interest on accrued Basis

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

03 September 2025 Unless you had filed the earlier return for declaration of KVP interest, you cannot file feedback in AIS. At the same time the interest of preceding years will be added to current ITR.

Javed Memon

Javed Memon (Querist)

03 September 2025 So than First i File updated Return Of Previous Years and Delcare accrued Interest and After that give Feedback in AIS and File A.Y. 2025-26 Return

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

03 September 2025 That would be better option.

Message likes : 1 times

Javed Memon

Javed Memon (Querist)

03 September 2025 Sir, Probability of Notice For Given Feedback in AIS ? (for Changes Interest Income)

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

03 September 2025 No notice, as it is routine to declare income annually.

Message likes : 1 times

Javed Memon