Taxation on kisan vikas patra - post office scheme
This query is : Resolved
17 July 2019
Value of Kisan vikas patra was Rs.16,000/= and it was matured to Rs.32,000/= during the financial year 2018 - 2019.
How it should be taxed?
This is my first case as I am coming across Kisan Vikas Patra Taxation
My client don't know how to calculate Kisan Vikas Patra Interest and also forget to inform me. So he fails to show the interest on yearly basis. Whether he can show the interest of Rs.16,000/= as taxable income now for a.y.2019 - 2020?
How it should be taxed?
This is my first case as I am coming across Kisan Vikas Patra Taxation
My client don't know how to calculate Kisan Vikas Patra Interest and also forget to inform me. So he fails to show the interest on yearly basis. Whether he can show the interest of Rs.16,000/= as taxable income now for a.y.2019 - 2020?
17 July 2019
Interest is taxable. Declare full interest in Fin. Yr. 2018-19.
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