The following are eligible for investing KVP: Joint ‘B’ Type Certificate: This type of certificate is issued jointly to two adults, payable to either of the holders or to the survivor.Joint ‘A’ Type Certificate: This type of certificate is issued jointly to two adults, payable to both the holders jointly or to the survivor.Single Holder Type Certificate: This kind of certificate is issued to an adult for themselves or on behalf of a minor or to a minor.Types of certificates availableĪ Kisan Vikas Patra certificate can be of the following types: Further, it is also mandatory to submit the Aadhaar number as proof of identity of the account holder. It is a low-risk savings platform, where you can safely park your money for a certain period. To deposit Rs.10 lakh and above, you must submit income proofs (salary slips, bank statements, ITR documents etc.). To prevent the possibility of money laundering, the government in 2014 made PAN card proof compulsory for investments above Rs.50,000. Initially, it was meant for farmers to enable them to save for the long term, hence the name. And if you invest a lump sum amount today, you can get double the amount at the end of the 115th month.

The minimum investment amount is Rs.1,000 and there is no upper limit. As per the latest update, the tenure for the scheme is now 115 months (9 years and 5 months). Its primary objective is to encourage long-term financial discipline in people. India Post introduced the Kisan Vikas Patra as a small saving certificate scheme in 1988. In this article, we will explore the features and potential of this scheme.

For instance, a Kisan Vikas Patra for Rs.5,000 will get you a corpus of Rs.10,000 post-maturity. It doubles a one-time investment in a period of approximately 9.5 years (115 months). Kisan Vikas Patra is a certificate scheme from the Indian post office. ITR U – What is ITR-U Form and How to File ITR-U.Income Tax Raid, Search and Seizure – What, When, How.UAN Login, Portal Registration, Universal Account Number Activation & Status Check.Which ITR Should I File? Types of ITR Forms for FY 2021-22, AY 2022-23 – All ITR Forms.How to file ITR Online – Step by Step Guide to Efile Income Tax Return, FY 2021-22 (AY 2022-23).Budget 2023: Full List of Cheaper and Costlier Items.Budget 2022 Highlights: PDF Download, Key Takeaways, Important Points.Budget 2023 Expectations For Income Tax: 80C & 80D Limit Increase, Tax Slab Changes For Salaried Employees.Budget 2023 Highlights: PDF Download, Key Takeaways, Important Points.

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