Jitender (Others) (23 Points)
11 June 2024Hello,
How to calculate interest for Kisan Vikas Patra (KVP) - for each year?
Is the compounded interest calculated every 6 months or every year?
There is an old excel sheet in this forum somewhere, but it is password protected and also does not show the calculation part.
Thanks
CA Anoop Kumar Sharma
(Accounts Manager)
(1837 Points)
Replied 11 June 2024
The interest accrued on the invested in KVP sum is compounded yearly.
Jitender
(Others)
(23 Points)
Replied 11 June 2024
In the attached pdf - tentative calculations are shown for KVP with a simple example.
Are these correct in general? Would be grateful - if anyone can advise
How would interest for first FY be calculated when the KVP is bought close to end of that FY.
Thanks
NARENDRA
(ACCOUNTS MANAGER)
(1756 Points)
Replied 12 June 2024
Normally KVP is for 10 years. , So the calculations be like .......
| PERIOD | AMT. | INT. | , ... |
| FEB.18-MAR. 18 | 1000 | 12 | 2 MONTHS |
| 2018-19 | 1012 | 74 | |
| 2019-20 | 1086 | 79 | |
| 2020-21 | 1165 | 85 | |
| 2021-22 | 1250 | 91 | |
| 2022-23 | 1341 | 98 | |
| 2023-24 | 1439 | 105 | |
| 2024-25 | 1544 | 113 | |
| 2025-26 | 1657 | 121 | |
| 2026-27 | 1778 | 130 | |
| APR. 27 TO JAN. 28 | 1908 | 139 | 2047 |
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