Dsclosure of nsc in revised schedule vi

Vishal (CA) (107 Points)

24 February 2013

Where to disclose NSC and KVP purchased in revisied Schedule VI .

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3 Replies

pravallika reddy (articleship) (305 Points)
Replied 27 February 2013

hi,

telle me wt is NSV and KVP

pravallika reddy (articleship) (305 Points)
Replied 27 February 2013

hi,

telle me wt is NSV and KVP

Pawan Mittal (CA Final) (711 Points)
Replied 07 March 2013

NSC means National Saving Certificate and KVP means Kisan Vikas Patra.

It depends on your intention that for what period of time you are going to hold them.

If you will dispose them within a year show them in current assets.

If you want to hold them for more than a year than present them as long term investments.

As there is lock in period in case of NSC and KVP so generally people hold them for a longer period so show them as your long term investments.

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