How would the kisan vikas patra's interest is taxable on accrual basis? whether it is accrued on half-yearly basis ? plz send the interest chart of KVP.
5 Replies
Late CA Sampat Jain
(Chartered Accountant)
(4772 Points)
Replied 23 August 2007
Accrual of interest means your right to interest has arisen........now it depends upon the agreement between lender and borrower. What ever interest has accrued during the financial year is to be offered for taxation if you follow mercantile method for other sources also
(Guest)
Can anyone advise the procedure for premature withdrawal from KVP held in DEMAT form?
I bought in May 2005 in Mumbai in DEMAT form.
Now I am in a different city and would like to withdraw prematurely. My DP says they cannot do anything since it is 'locked' and the local post office is not even aware that KVP are available in demat!!!!!
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