My mother had taken KVP in cash long time back but did not show in ITR.
now she has got double the amount via cheque.
how should I show the interest amount in her ITR??
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how to tax KVP interest
Replies (6)
Declare it as Capital Gain.........
eg. if we have got 10,000 interest for 10yrs.....is it a better option to divide the interest in 10 yrs and show it as 1000 per year for the next 10 yrs??
No, that option, actually you should have adopted till earlier years.
Now declare the whole gain in last year of redumption as capital gain.
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