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NRI saving for KVC

08 January 2020

a NRI wants to invest his money in India into kisaan vikas certificate in post office, but he file last year return as NRI and he also continue his post office account as resident status. kindly guide for investment of said amount.

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3 Replies

Kapadia Pravin (17249 Points)
Replied 08 January 2020

NRI is not eligible for KVP

Singh Kamboj (396 Points)
Replied 08 January 2020

He made saving on behalf oh his wife

CA Arun Tiwari (Partner) (3925 Points)
Replied 09 January 2020

A non Resident is not eligible to invest in Kissan Vikas Patra (KVP). If he has made investment when he was a resident then his previous investment would be transferred by postoffice after intimation to his NRO account. Investment by Non Resident in KVP is not possible.