Please help me out,
one of client has received a maturity of 20 lacs from KVP out of which 10 lac is interest and the KVP was jointly holded by 4(2 KVP certificates) family members, now my question is can we distribute the interest income among those 4 person and accordingly compute tax liability??
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taxability of KVP in case of Joint holders
Replies (6)
What was the source of payment while invesment made in KVP? who had invested originally?
It was gratuity amount invested through post office saving account
father invested money in which mother and 2 children's were joint holders
If the 3 parts of investment treated as gifts to both sons and spouse before investment in KVP;
the redemption proceeds can be divided in equal shares and taxed accordingly. (clubbing in case of spouse)
ok thank you sir
Most Welcome........
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