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Maturity of kisan vikas patra from postoffice

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 July 2015 Sir, An individual had Kisan Vikas Patra of Rs. 15000. In ay 2015-16, the said KVP matured and he received cheque of Rs. 30,000 from post offiice.

Is the intetest on KVP - taxable ?

How to decide the amount of intetest in maturing KVP ?
How much interest is to be shown in I.tax return in. this given case ?
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
17 July 2015 Yes interest from KVP is taxable. Generally interest on KVP is shown on accrued basis every year based on the year of purchase and interest rates.
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