Thursday, 26 June 2014

Easy Chart To Compute Accrued Interest on NSC & KVP!


National Saving Certificate (VIII) is issued for 6 years. Premature withdrawl is not allowed.No TDS at the time of encashment.Can be purchased on Minor’s name , but an NRI is not eligible to purchase NSC.It is available in denomination of Rs100,Rs500,Rs 1000, Rs 5000 & Rs 10,000.


Accrued Interest on NSC of Rs 100
Year of AccrualIf purchased on or after 1/3/2001 but before 1/3/2002If purchased on or after 1/3/2002 but before 1/3/2003If purchased on or after  1/3/2003
First year9.729.208.16
Second Year10.6710.058.83
Third year11.7110.979.55
Fourth Year12.8511.9810.33
Fifth Year14.1013.0911.17
Sixth Year15.4714.2912.08
Kisan Vikas Patra doubles your money in 8 years & 7 months. No TDS on interest. Interest paid only on maturity.
Accrued Interest  On Kisan Vikas Patra For Rs 1000
Period from the date of certificate to the date of its encashmentPurchased between
15/1/2000 to 28/2/2001
Purchased between
1/3/2001 to 28/2/2002
Purchased between
1/3/2002 to 28/2/2003
Purchased from 1/3/2003
1st yearN. AN. AN. AN. A
2nd yearN.AN. AN. AN. A
2 Yrs & 6 months1246120911951170.51
3 years1302127412561207.95
3 years & 6 months1407132713051267.19
4 years1478140913821310.8
4 years & 6 months1585147014391355.9
5 years1668157215341435.63
5 years & 6 months1779164416021488.49
6 years1874177016721543.3
6 years & 6 months2000185718001649.13
7 years—-18831713.82
7 years & 3 months2000—–——-
7 years & 6 months—-1781.06
7 years & 8 months2000—–
8 years or more but less than 8 yrs 7 months—-1850.93
8 years & 7 months—-2000

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