Nsc and kvp taxable

Is all whole amount ie the principal and interest is taxable on maturity of KISSAN VIKAS PATRA(KVP) AND NATIONAL SAVING CERTIFICATES(NSC)?
PLEASE GUIDE

 

Replies (1)

Kisan Vikas Patra (KVP):
.
Accrued interest amount is taxable under income from other sources. No other tax benefit is available.
.

National Savings Certificate (NSC):
.
Accrued interest amount is taxable under income from other sources but since it is deemed to have been reinvested, it qualifies for deduction u/s 80C, except for the last year (First include in income from other sources, then claim deduction for the same).
.
Amount paid for purchase of NSC can be claimed as deduction u/s 80C.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details
Company
Featured 19 August 2026
Chartered Accountant

apricus india

Pune

CA

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details