Direct & Indirect Taxes, Tax Ready Reckoner for AY 2022-23 & 2023-24
  • Home
  • Gross Total Income (GTI)
    • All
    • Business and Profession
    • Capital Gains
    • Clubbing of Income
    • Deductions
    • House Property
    • Other Sources
    • Salaries
    • Set Off of Losses
    Basic Rules of Deductions

    Basic Rules of Deductions under Section 80C to 80U [Sections 80A/80AB/80AC]

    Deduction under Section 80C

    Section 80C: Income Tax Deductions for AY 2022-23 and 2023-24

    Deduction under Section 80CCD

    Section 80CCD : Deduction in respect of Contribution to a National Pension Scheme (NPS)

    Deduction under Section 80D

    Section 80D : Deduction in respect of Medical Insurance Premia

    Deduction under Section 80DD

    [Section 80DD]: Deduction in respect of Caring & Maintenance including Medical Treatment of a Disabled Dependent

    Deduction under Section 80DDB

    Section 80DDB : Deduction in respect of Medical Treatment, etc.- to what extent available

    Trending Tags

    • Gross Total Income (GTI)
    • Perquisites
    • Allowances
  • Amendments Bill 2022
    Amendments relating to Penalties and Prosecutions by the Finance Bill- 2022

    Amendments relating to Penalties and Prosecutions by the Finance Bill, 2022

    Amendments relating to Appeals and Revisions by the Finance Bill- 2022

    Amendments relating to Appeals and Revisions by the Finance Bill, 2022

    Amendments relating to Deduction and Collection of Tax at Source by the Finance Bill 2022

    Amendments relating to Deduction and Collection of Tax at Source by the Finance Bill 2022

    Amendments relating to Set off or Carry Forward and Set off of Losses by the Finance Bill 2022

    Amendments relating to Set off or Carry Forward and Set off of Losses by the Finance Bill 2022

    Amendments relating to Unexplained Cash Credits- Investment- Money etc by the Finance Bill 2022

    Amendments relating to Unexplained Cash Credits, Investment, Money etc. by the Finance Bill 2022

    Amendments relating to Income under the Head Profits and Gains of Business or Profession - By Finance Bill 2022

    Amendments to Profits and Gains of Business or Profession – By Finance Bill 2022

    Trending Tags

    • Income Tax
      • All
      • Agricultural Income
      • Exempted Incomes
      • Residential Status
      • Taxation in Companies
      • Taxation of Trusts
      Charitable and Religious Trust

      Charitable and Religious Trust

      Formation of A Charitable and Religious Trust

      Steps of Formation of a Charitable and Religious Trust

      TRUST DEED for A Charitable and Religious Trust

      TRUST DEED for A Charitable and Religious Trust

      Registration of A Charitable and Religious Trust

      Registration of A “Charitable & Religious Trust”

      Income Tax Provisions & Exemptions in case of Trust

      Income Tax Provisions & Exemptions in case of Charitable Trust and Religious Institution

      Approval for Deduction to Donors in case of Trust Under Section 80G

      Approval of Trust Under Section 80G Of the Income Tax Act. To Give Some Benefits to Its Donors

      Trending Tags

      • Section-10
      • Exempted Incomes
      • Income Tax Rate
      • Residential Status
      • Exempted Incomes
      • Residential Status
      • Taxation in Companies
    • Assessment
      Types-Definitions and Residential Status of Companies

      Types, Definitions and Residential Status of Companies

      Taxation of a Foreign Company

      (Section 115JH): Special Provisions Relating to Foreign Company said to be Resident In India

      Special Provisions in case of Closely Held Company

      Special Provisions applicable to a Closely Held Company in which Public are Not Substantially Interested

      Tax on Total Income of a Company

      Tax on Total Income of a Company

      Section 115BA - Tax on Manufacturing Domestic Company

      [Section 115BA]: Tax on income of Certain Manufacturing Domestic Companies

      Section 115BAA- Tax on Domestic Company

      [Section 115BAA]: Special Provisions of Tax on Income of Certain Domestic Companies

      Trending Tags

      • Knowledgebase on IT
        • All
        • Investment Planning
        Investment Planning for Tax Savings A.Y. 2023-24

        Investment Planning for Tax Savings A.Y. 2023-24

        Prescribed Reports-Certificates from a Chartered Accountant

        Prescribed Reports/Certificates from a Chartered Accountant under Section 288(2).

        Prescribed Audit Reports under the Income Tax Rules-Act.

        Prescribed Audit Reports under the Income Tax Rules/ Act.

        Investment in National Saving Certificate (NSC)

        Investment in National Saving Certificate (NSC) for A.Y. 2022-23 & 2023-24.

        Investment in TERM LIFE INSURANCE

        Investment in TERM LIFE INSURANCE for A.Y. 2022-23 & 2023-24.

        Investment in National Pension Scheme (NPS)

        Investment in National Pension Scheme (NPS) for A.Y. 2022-23 & 2023-24.

        Trending Tags

        • Filing an Appeal
        • Tax Saving Investment
        • Audit Report
        • Investment Planning
      No Result
      View All Result
      Direct & Indirect Taxes, Tax Ready Reckoner for AY 2022-23 & 2023-24
      • Home
      • Gross Total Income (GTI)
        • All
        • Business and Profession
        • Capital Gains
        • Clubbing of Income
        • Deductions
        • House Property
        • Other Sources
        • Salaries
        • Set Off of Losses
        Basic Rules of Deductions

        Basic Rules of Deductions under Section 80C to 80U [Sections 80A/80AB/80AC]

        Deduction under Section 80C

        Section 80C: Income Tax Deductions for AY 2022-23 and 2023-24

        Deduction under Section 80CCD

        Section 80CCD : Deduction in respect of Contribution to a National Pension Scheme (NPS)

        Deduction under Section 80D

        Section 80D : Deduction in respect of Medical Insurance Premia

        Deduction under Section 80DD

        [Section 80DD]: Deduction in respect of Caring & Maintenance including Medical Treatment of a Disabled Dependent

        Deduction under Section 80DDB

        Section 80DDB : Deduction in respect of Medical Treatment, etc.- to what extent available

        Trending Tags

        • Gross Total Income (GTI)
        • Perquisites
        • Allowances
      • Amendments Bill 2022
        Amendments relating to Penalties and Prosecutions by the Finance Bill- 2022

        Amendments relating to Penalties and Prosecutions by the Finance Bill, 2022

        Amendments relating to Appeals and Revisions by the Finance Bill- 2022

        Amendments relating to Appeals and Revisions by the Finance Bill, 2022

        Amendments relating to Deduction and Collection of Tax at Source by the Finance Bill 2022

        Amendments relating to Deduction and Collection of Tax at Source by the Finance Bill 2022

        Amendments relating to Set off or Carry Forward and Set off of Losses by the Finance Bill 2022

        Amendments relating to Set off or Carry Forward and Set off of Losses by the Finance Bill 2022

        Amendments relating to Unexplained Cash Credits- Investment- Money etc by the Finance Bill 2022

        Amendments relating to Unexplained Cash Credits, Investment, Money etc. by the Finance Bill 2022

        Amendments relating to Income under the Head Profits and Gains of Business or Profession - By Finance Bill 2022

        Amendments to Profits and Gains of Business or Profession – By Finance Bill 2022

        Trending Tags

        • Income Tax
          • All
          • Agricultural Income
          • Exempted Incomes
          • Residential Status
          • Taxation in Companies
          • Taxation of Trusts
          Charitable and Religious Trust

          Charitable and Religious Trust

          Formation of A Charitable and Religious Trust

          Steps of Formation of a Charitable and Religious Trust

          TRUST DEED for A Charitable and Religious Trust

          TRUST DEED for A Charitable and Religious Trust

          Registration of A Charitable and Religious Trust

          Registration of A “Charitable & Religious Trust”

          Income Tax Provisions & Exemptions in case of Trust

          Income Tax Provisions & Exemptions in case of Charitable Trust and Religious Institution

          Approval for Deduction to Donors in case of Trust Under Section 80G

          Approval of Trust Under Section 80G Of the Income Tax Act. To Give Some Benefits to Its Donors

          Trending Tags

          • Section-10
          • Exempted Incomes
          • Income Tax Rate
          • Residential Status
          • Exempted Incomes
          • Residential Status
          • Taxation in Companies
        • Assessment
          Types-Definitions and Residential Status of Companies

          Types, Definitions and Residential Status of Companies

          Taxation of a Foreign Company

          (Section 115JH): Special Provisions Relating to Foreign Company said to be Resident In India

          Special Provisions in case of Closely Held Company

          Special Provisions applicable to a Closely Held Company in which Public are Not Substantially Interested

          Tax on Total Income of a Company

          Tax on Total Income of a Company

          Section 115BA - Tax on Manufacturing Domestic Company

          [Section 115BA]: Tax on income of Certain Manufacturing Domestic Companies

          Section 115BAA- Tax on Domestic Company

          [Section 115BAA]: Special Provisions of Tax on Income of Certain Domestic Companies

          Trending Tags

          • Knowledgebase on IT
            • All
            • Investment Planning
            Investment Planning for Tax Savings A.Y. 2023-24

            Investment Planning for Tax Savings A.Y. 2023-24

            Prescribed Reports-Certificates from a Chartered Accountant

            Prescribed Reports/Certificates from a Chartered Accountant under Section 288(2).

            Prescribed Audit Reports under the Income Tax Rules-Act.

            Prescribed Audit Reports under the Income Tax Rules/ Act.

            Investment in National Saving Certificate (NSC)

            Investment in National Saving Certificate (NSC) for A.Y. 2022-23 & 2023-24.

            Investment in TERM LIFE INSURANCE

            Investment in TERM LIFE INSURANCE for A.Y. 2022-23 & 2023-24.

            Investment in National Pension Scheme (NPS)

            Investment in National Pension Scheme (NPS) for A.Y. 2022-23 & 2023-24.

            Trending Tags

            • Filing an Appeal
            • Tax Saving Investment
            • Audit Report
            • Investment Planning
          No Result
          View All Result
          Direct & Indirect Taxes, Tax Ready Reckoner for AY 2022-23 & 2023-24
          No Result
          View All Result
          Home Knowledgebase on IT Investment Planning

          Investment in Kisan Vikas Patra Yojana for A.Y. 2022-23 & 2023-24.

          Investment Planning to save Tax for the Assessment Year 2022-23 & 20023-24.

          in Investment Planning
          A A
          Investment in Kisan Vikas Patra Yojana
          Share on FacebookShare on TwitterShare on Pinterest

          Kisan Vikas Patra is a certificate scheme from the Indian post office. It doubles a one-time investment in a period of approximately 10 years & 4 months (124 months) if you purchase the certificate between 1 July 2021 and 30 September 2021.

          A savings certificate scheme, Kisan Vikas Patra (1(W) was originally launched in the year I 981 by India Post. This is basically the Indian Government’s initiative to encourage small savings in the country for the investor’s secure fixture.

          Table of Contents

          • Kisan Vikas Patra Information
          • Kisan Vikas Patra Eligibility
          • Taxation
          • Kisan Vikas Patra Types
          • Kisan Vikas Patra Interest Rate
            • Interest Rates of KVP

          Kisan Vikas Patra Information

          Tenure 124 months
          interest Rate 6.9%
          Investment Amount ·        Minimum: Rs. 1,000

          ·        Maximum: No Upper Limit

          Tax Benefits You can avail tax benefits under Section 80C of the Income-tax Act, 1961

          Kisan Vikas Patra Eligibility

          The following are the Kisan Vikas Patra eligibility:

          • The applicant must be an adult and a resident Indian.
          • The applicant can apply for Kisan Vikas Patra in their own name or on behalf of a minor.
          • Trusts are eligible to invest in Kisan Vikas Patra. HUFs (Hindu Undivided Family) and NRIs are not eligible to invest in KVP.

          Taxation

          It doesn’t come under the 80C deductions, and the Returns are completely taxable. However, Tax Deducted at Source (TDS) is exempt from withdrawals after the maturity period.

          Kisan Vikas Patra Types

          A Kisan Vikas Patra comes in the following types.

          • Single Holder Type Certificate: This type of KVP is issued to an adult individually for self or on behalf of a minor.
          • Joint A Type Certificate: This type of KVP is issued to 2 adults jointly and is payable to both the owners or to the survivor.
          • Joint B Type Certificate: This type of KVP is issued jointly to two adults and is payable to either of the owners or to the survivor.

          KVP, when of Type A and Type B. is released to both the combined owners. in case the adulthood is due to both the heir and owners or due to either of the heirs, it is released to combined owners.

          Kisan Vikas Patra Interest Rate

          The current interest rate was reduced from 7.6% to 6.9%. The maturity period was also increased from 113 months to 124 months. The principal amount can be withdrawn after this period only.

          Here is an example of how interest accrues and doubles at maturity upon investment of Rs. 1,000 in KVP on 1st. October 2016 at an interest rate of 7.7%.

          Interest Rates of KVP

          Quarter / Financial Year 2016-2017 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
          April-June 7.8% (will
          mature in 110 months)
          7.6% (will
          mature in 113 months)
          7.3% (will
          mature in
          118 months)
          7.7% (will
          mature in
          112 months)
          6.9% (will
          mature in
          124 months)
          6.9% (will
          mature in 124 months)
          July-September 7.8% (will
          mature in 110 months)
          7.5% (will
          mature in 115 months)
          7.3% (will
          mature in 118 months)
          7.6% (will mature in 113 months) 6.9% (will
          mature in 124 months)
          6.9% (will
          mature in 124 months)
          October – December 7.7% (will
          mature in 112
          month)
          7.5% (will
          mature in 115
          months)
          7.7% (will
          mature in
          112 months)
          7.6% (will
          mature in
          113 month)
          6.9% (will
          mature in
          124 months)
          Yes, to announce
          January-March 7.7% (will
          mature in 112
          month)
          7.3% (will
          mature in 118
          months)
          7.7% (will
          mature in
          112 months)
          7.6% (will
          mature in
          113 month)
          6.9% (will
          mature in
          124 months)
          Yes, to announce
          Tags: Tax Saving Investment
          ShareTweetPin
          Previous Post

          Investment in Public Provident Fund (PPF) towards Tax Saving for A.Y. 2022-23 & 2023-24.

          Next Post

          Investment in National Pension Scheme (NPS) for A.Y. 2022-23 & 2023-24.

          Related Posts

          Investment Planning for Tax Savings A.Y. 2023-24
          Investment Planning

          Investment Planning for Tax Savings A.Y. 2023-24

          December 23, 2022
          Investment in National Saving Certificate (NSC)
          Investment Planning

          Investment in National Saving Certificate (NSC) for A.Y. 2022-23 & 2023-24.

          Investment in TERM LIFE INSURANCE
          Investment Planning

          Investment in TERM LIFE INSURANCE for A.Y. 2022-23 & 2023-24.

          May 25, 2023
          Investment in National Pension Scheme (NPS)
          Investment Planning

          Investment in National Pension Scheme (NPS) for A.Y. 2022-23 & 2023-24.

          December 23, 2022
          Investment in Public Provident Fund (PPF)
          Investment Planning

          Investment in Public Provident Fund (PPF) towards Tax Saving for A.Y. 2022-23 & 2023-24.

          December 23, 2022
          Investment in Senior Citizen Savings Scheme (SCSS)
          Investment Planning

          Investment in Senior Citizen Savings Scheme (SCSS) for A.Y. 2022-23 & 2023-24.

          February 1, 2023
          Next Post
          Investment in National Pension Scheme (NPS)

          Investment in National Pension Scheme (NPS) for A.Y. 2022-23 & 2023-24.

          Investment in TERM LIFE INSURANCE

          Investment in TERM LIFE INSURANCE for A.Y. 2022-23 & 2023-24.

          Investment in National Saving Certificate (NSC)

          Investment in National Saving Certificate (NSC) for A.Y. 2022-23 & 2023-24.

          Leave a Reply

          Your email address will not be published. Required fields are marked *

          • Trending
          • Comments
          • Latest
          Income from House Property-Section-22-to-27

          Income From House Property [Section 22 to 27]

          March 13, 2023
          Rates of Income Tax for Assessment Year 2022-23 & 2023-24

          Rates of Income Tax for Assessment Year 2022-23 & 2023-24

          January 12, 2023
          Section 70, Inter-Source Adjustment

          Section 70: Inter-Source Adjustment – Set Off of Losses from one Source against Income from another Source under the same head of Income

          March 13, 2023
          Exempted Incomes - Section 10

          Exempted Incomes under Section 10 to 13A under Income Tax Act. 1956

          March 13, 2023
          Rates of Income Tax for Assessment Year 2022-23 & 2023-24

          Rates of Income Tax for Assessment Year 2022-23 & 2023-24

          0
          Amendments relating to Incomes which do not Form Part of Total Income by The Finance Bill 2022

          Amendments relating to ‘Exempted Incomes -Section-10’ by The Finance Bill 2022

          0
          Amendments relating to Income under the Head Profits and Gains of Business or Profession - By Finance Bill 2022

          Amendments to Profits and Gains of Business or Profession – By Finance Bill 2022

          0
          Amendments relating to Unexplained Cash Credits- Investment- Money etc by the Finance Bill 2022

          Amendments relating to Unexplained Cash Credits, Investment, Money etc. by the Finance Bill 2022

          0
          Charitable and Religious Trust

          Charitable and Religious Trust

          March 30, 2023
          Formation of A Charitable and Religious Trust

          Steps of Formation of a Charitable and Religious Trust

          March 30, 2023
          TRUST DEED for A Charitable and Religious Trust

          TRUST DEED for A Charitable and Religious Trust

          March 30, 2023
          Registration of A Charitable and Religious Trust

          Registration of A “Charitable & Religious Trust”

          March 30, 2023

          Recent Posts

          Income from House Property-Section-22-to-27

          Income From House Property [Section 22 to 27]

          March 13, 2023
          Section 70, Inter-Source Adjustment

          Section 70: Inter-Source Adjustment – Set Off of Losses from one Source against Income from another Source under the same head of Income

          March 13, 2023
          Charitable and Religious Trust

          Charitable and Religious Trust

          March 30, 2023
          Formation of A Charitable and Religious Trust

          Steps of Formation of a Charitable and Religious Trust

          March 30, 2023
          Direct & Indirect Taxes, Tax Ready Reckoner for AY 2022-23 & 2023-24

          Income Tax Management and Tax Ready Reckoner with Tax Planning for the Assessment Years 2022-2023 & 2023-2024 - for Students, Salaried, Professionals & Businessman.

          Browse by Category

          • Agricultural Income
          • Amendments Bill 2022
          • Assessment
          • Business and Profession
          • Capital Gains
          • Clubbing of Income
          • Deductions
          • Exempted Incomes
          • Gross Total Income (GTI)
          • House Property
          • Income Tax
          • Investment Planning
          • Knowledgebase on IT
          • Other Sources
          • Residential Status
          • Salaries
          • Set Off of Losses
          • Taxation in Companies
          • Taxation of Trusts

          Recent News

          Charitable and Religious Trust

          Charitable and Religious Trust

          March 30, 2023
          Formation of A Charitable and Religious Trust

          Steps of Formation of a Charitable and Religious Trust

          March 30, 2023
          • Home
          • Gross Total Income (GTI)
          • Amendments Bill 2022
          • Income Tax
          • Assessment
          • Knowledgebase on IT

          © 2023 : incomeTAXManagement.in - Assessment Years 2022-2023 & 2023-2024.

          No Result
          View All Result
          • Home
          • Gross Total Income (GTI)
          • Amendments Bill 2022
          • Income Tax
            • Exempted Incomes
            • Residential Status
            • Taxation in Companies
          • Assessment
          • Knowledgebase on IT
            • Investment Planning

          © 2023 : incomeTAXManagement.in - Assessment Years 2022-2023 & 2023-2024.