Any individual can safely invest and save their money in the form of kisan vikas patra. Govt of india has launched new kisan vikas patra kvp last tuesday, 18 th november, 2014. Kisan vikas patra was very popular small saving instrument earlier, however, due to some reasons, this was discontinued. Dear sir whether deposit in kisan vikas patra is allowed as deduction u s 80c for tax saving on salary income for the current financial year 2014 2015 regards arun.
The interest rate is not the best that you could get around and. Kisan vikas patra was first launched on 1 april 1988, with a maturity period of five years and six months. Any resident person or persons as specified below can make an application in forma either in person or through an authorised agent at a post office. Kvp is sold by the govt and can be purchased through post office. Please read and agree with the disclaimer before proceeding further. The kisan vikas patra form is available online for download. Cnbc awaaz presents tax guru, your guide to tax planning. Kisan vikas patra and 5year recurring deposit by 0. Kisanvikaspatrayojna is a small longterm saving scheme launched back in the year 1988. Now, this post contains all the important information such as kisan vikas patra calculator, kisan vikas patra interest chart, kisan vikas. Here is a quick link to the kisan vikas patra form.
This is to inform you that by clicking on the hyperlinkok, you will be accessing a website operated by a third party namely such links are provided only for the convenience of the client and axis bank does not control or endorse such websites, and is not. If the kisan vikas patra kvp is lost, stolen, destroyed, mutilated or defaced, the rightful owner of such kvp may apply for the issue of a duplicate kvp to the post master of post office, where the certificate is registered or issued. Therefore, all the people who are interested in knowing about the post office savings scheme interest rate, tax benefit can check this post. Kisan vikas patra was used rampantly for money laundering and cases of theft of kvp certificates also started rising due to easy transferability and lack of paper work. The deposit for kvp is possible in the form of cash, cheque or demand draft. Kisan vikas patra is a small saving scheme which aims to double your money in 100 months or 8 yrs 4 months. Kisan vikas patra 20182019 post office savings scheme. It was discontinued briefly since 2011 and relaunched in 2014. If you want to double the amount of your investment then you must think of investing in the post office kisan vikas patra scheme. Know about kisan vikas patra eligibility, interest rates, maturity period, premature withdrawal, maximum investment limits, transfer of kvp, tax benefits on kisan vikas patra. Kisan vikas patra was a very popular investment scheme amongst the investor which was discontinued wef 30. Finance minister, arun jaitley in 2015 launched kisan vikas patra kvp.
It means that the revenue mobilized by this scheme will be used by the government of india in welfare schemes for farmers. The government recently relaunched erstwhile popular small savings scheme kisan vikas patra to provide more investment options with the aim to raise the savings rate in the country. It was successful in the early months but afterwards the government of india set up a committee under supervision of shyamala gopinath which gave its recommendation to the government that kvp could be misused. Application for closure of account under senior citizens savings scheme 2004 by spouse joint holder nominees legal heirs. Investment in kvp at present fetches a return of 7. It was discontinued in 2011 on recommendation of a government committee led by shayamla gopinath, on fear of misuse of the scheme for money laundering. The kisan vikas patra scheme was originally launched in april, 1988 but was discontinued in 2011. Kisan vikas patra kvp interest rate calculator tax.
Kisan vikas patra kvp is a post office savings scheme which doubles the principal amount in 118 months as per kisan vikas patra calculator with kvp interest rate is 7. Kisan vikas patra form b in fillable pdf form of application for transfer of kisan vikas patra kvp from post office to a bank and viceversa about forms compiled in pdf fillable as excel word format. It doubles the money on maturity continue reading posted on january 28, 2020 in fixed income, investment plan. This savings scheme doubles the investment amount after a predetermined tenure of. Kisan vikas patra is a saving certificate scheme which was first launched in 1988 by india post. Some other things while purchasing kisan vikas patra kvp certificates also needed to note, such as mention if the kisan vikas patra kvp is purchased singly or is it a joint purchase, for a joint purchase, be sure to mention both the names on the form. Branch will issue a certificate called kisan vikas patra with your name, amount, date of maturity and amount on the date of maturity. All about kisan vikas patra from account opening to death. How to transfer a kisan vikas patra kvp certificate. Interest rate of ppf, nsc, kvp, scss and sukanya samriddhi. Kisan vikas patras kvp calculator is a generalpurpose calculator used for calculating the maturity amount of kisan vikas patras kvp invested in the post office at a onetime basis for a specified period. The duplicate kisan vikas patra certificate can be issued by any post office after verification of the details from the post office that has issued the original. Interest on money deposited in the kvp account is compounded on an. Government relaunches kisan vikas patra current affairs.
The rate of interest for this scheme is fixed by the government on a quarterly basis. On the basis of the decisions of the government, interest rates for small savings schemes are to be notified on quarterly basis, the order said announcing the rates for the first quarter. Even though this scheme was popular, a government committee formed in 2011 suggested that kvp could be misused for purposes like money laundering. Hence the government of india decided to close this scheme and kvp was closed in 2011. Senior citizen savings scheme 2004 government savings banks act, 1873. Kisan vikas patra form a in fillable pdf form of application for purchase of kisan vikas patra kvp about forms compiled in fillable pdf format. Kvp can be purchased by a citizen of india and an adult, in your own name or on behalf of a minor. As you might know that kisan vikas patra kvp is first introduced in 1988 by government of india. On 18 th november 2014, union government relaunched kisan vikas patra scheme kvp in new delhi to encourage the habit of small savings among the citizens. Kisan vikas patra is a saving certificate which was first launched in 1988.
Finance kisan vikas patra is a saving certificate which was first launched in 1988. Kisan vikas patra kvp is small saving certificate scheme which was originally re introduced in budget 2014 presented. Kvb was launched in 1988 to encourage savings and financial discipline with a focus on farmers and hence the name. This is a very popular small saving scheme supported by the central government. Kisan vikas patra is a small savings instrument that facilitates people to invest in a longterm savings plan. The kisan in kisan vikas patra does not mean that only farmers can buy these saving certificates.
The kissan vikas patra gives you an interest rate of 8. How to purchase kisan vikas patra kvp certificates. National savings institute latest circulars notification. Investing in kisan vikas patra scheme guarantees secured investment and better returns in future. Kisan vikas patra yojna has been relaunched by government of india on 18th november,2014. The scheme will soon be made available through designated branches of nationalized banks across the country.
National savings institute works under department of economic affairs, ministry of finance, government of india. Kisan vikas patra is a savings scheme in the certificate format available for the citizens of india. However, you can prematurely withdraw your kvp certificate after the lock in period of 2 and a half years. Which banks can you buy the kissan vikas patra or kvp. To apply for kisan vikas patra certificate, you need to download the application form online or get it directly from the post office. The maturity date for the kisan vikas patra certificate is 100 months or 8 years and 4 months. Kisan vikas patra features and benefits invest at axis bank. Download kisan vikas patra form afillable pdf form of application for purchase of kvp which you can fill before print on your pc laptop. These forms retain the original format of the form. At your request, you are being redirected to a third party site. This form needs to be filled and submitted at the post office. How to fill itr for ksc interest kisan vikas patra youtube. The scheme was initially launched in 1988 by india post. Indira vikas patra 1986 kisan vikas patra 19882011, and 2014 government savings certificates act 1959.
Well, form a is used for direct investment and form a1 colored background form is used if the investment is made through an agent. The government is reintroducing it this year with the aim of bringing the savings of farmers into the formal channels. This page provides tool to calculate maturity date of kisan vikas patra kvp as well as maturity amount of it. The identity slip if available helps to get the duplicate. The popular kisan vikas patra kvc was phased out in 2011 over fears of money laundering, as anyone could invest in the saving instrument and no questions were asked about the source of income. As kvp had became a money laundering instrument, it was withdrawn in 2011 following recommendation of a government committee. Kisan vikas patra latest news on kisan vikas patra. Today 31st march 2015 finance ministry announced the interest rates for post office schemes like public provident fund ppf, national savings certificate nsc, kisan vikas patra kvp, senior citizen savings scheme scss, and for sukanya samriddhi scheme. An applicant willing to invest in kvp can visit the nearby post office or nationalized bank and fill out the application form. Kisan vikas patra kvp is small saving certificate which helps small investors to mobilize their savings in long term plan. Kisan vikas patra kvp yojna has been relaunched by government of india on 18th november 2014. All the revised information about the kisan vikas patra 20182019 is given in this post. Arun jaitley has launched new kisan vikas patra kvp. Opening up a new avenue of investment for small investors, the government this week relaunched the kisan vikas patra.
Kisan vikas patra kvp is one of money double scheme of government of india, available through most of postoffices of india. To apply for kisan vikas patra, you need to submit an application form a or form a1 either in person or with the help of agent of the small savings scheme. This week, details about kisan vikas patra and how you should pay tax on your property. Government on tuesday cut interest rates on small savings of 1, 2, 3 year term deposits. How banks will pay commission to agents for kisan vikas patra department of economic affairs, ministry of finance, government of india has advised, vide office memorandum f. Widely popular in the 1990s, the kvp is a small saving product just like the national savings certificate nsc or the public provident fund ppf. From april 1, the government will pay interest at a rate of 6.
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