Kisan Vikas Patra (Kisan Vikas Patra-KVP): There is no tax benefit on investing in Kisan Vikas Patra. Also, you have to pay tax according to your tax bracket on the interest received on the Kisan Vikas Patra.
Kisan Vikas Patra-KVP is an excellent option for investing in Small Saving Schemes of Post Office. Kisan Vikas Patra or KVP is a type of Indian government bond, which is issued to you in the form of Investment Certificate. In this certificate, after how long your money will be doubled, it is reported. Currently, Kisan Vikas Patras are available in denominations of Rs 1,000, Rs 5000, Rs 10,000 and Rs 50,000. At present, investors are getting interest on Kisan Vikas Patra at the rate of 6.9 percent per annum. The interest received on this is deposited in the account of the investors at the end of the financial year i.e. March 31. According to the data, the total amount invested doubles in 124 months (10 years, 4 months).
No tax benefit on KVP investment – No tax benefit is available on investing in No Tax Benefit Under Section 80C
Kisan Vikas Patra (KVP). Also, you have to pay tax according to your tax bracket on the interest received on the Kisan Vikas Patra. However, there is no TDS (Tax Deduction at Source) on the Kisan Vikas Patra.
You can also take Kisan Vikas Patra online (Online):
National Saving Certificate (NSC) and Kisan Vikas Patra (KVP) in electronic form have also started getting available from 1 April 2016. Earlier, it was available only in the form of a printed certificate.
Who can buy Kisan Vikas Patra
Any adult person can buy it in their own name or in the name of minor. Any two adult people together can also buy Kisan Vikas Patra jointly. While buying KVP, you can also enter your Nominee in them. Nominee is the person who will get KVP money in case of no account holder.
You can transfer the name of another person, you can also transfer the name of someone else to Kisan Vikas Patra if needed. For this, you have to go to the Post Office and apply. You can also transfer your account to another post office if it is necessary for changing your residence or due to any other reason. If needed, you can cash Kisan Vikas Patra even before Maturity Period. But you can do this only if your Kisan Vikas Patra has completed at least two and a half years time.
Take care when buying KVP. Kisan
Vikas Patra, you can take any denomination as per your convenience, but if you want to invest a large amount in it, it would be better to buy small denomination. Denominations) Buy Kisan Vikas Patra. By doing this, if they have to be cashed before time, then bond cash can be made one by one.
