banner_ad

taxability of KVP in case of Joint holders

ITR 543 views 6 replies
User Avatar

11 Points Posted on 22 October 2017
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??
Reply Share Follow
On 22 October 2017 at 19:56 Report
Replies (6)
User Avatar

SEO Sai Gr. Hosp.
211560 Points Posted on 22 October 2017

What was the source of payment while invesment made in KVP?  who had invested originally?

581 Reply
On 22 October 2017 at 20:03
User Avatar

11 Points Posted on 22 October 2017
It was gratuity amount invested through post office saving account
Reply
On 22 October 2017 at 20:46
User Avatar

11 Points Posted on 22 October 2017
father invested money in which mother and 2 children's were joint holders
Reply
On 22 October 2017 at 20:47
User Avatar

SEO Sai Gr. Hosp.
211560 Points Posted on 22 October 2017

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)

581 Reply
On 22 October 2017 at 21:03
User Avatar

11 Points Posted on 22 October 2017
ok thank you sir
Reply
On 22 October 2017 at 22:10
User Avatar

SEO Sai Gr. Hosp.
211560 Points Posted on 23 October 2017

Most Welcome........

581 Reply
On 23 October 2017 at 07:52


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details