Taxability of accrued interest on Kisan Vikas Patras clarified: accrual basis assessment with prescribed accrual rates and maturity values. Interest on Kisan Vikas Patras is taxable on an accrual basis; assessable interest for an assessee must be calculated by reference to the Department of Economic Affairs' table of prescribed interest rates and maturity values for the Rs.100 denomination, with maturity values computed on a half yearly compounding basis and applied according to the certificate's purchase date band and encashment date.
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Taxability of accrued interest on Kisan Vikas Patras clarified: accrual basis assessment with prescribed accrual rates and maturity values.
Interest on Kisan Vikas Patras is taxable on an accrual basis; assessable interest for an assessee must be calculated by reference to the Department of Economic Affairs' table of prescribed interest rates and maturity values for the Rs.100 denomination, with maturity values computed on a half yearly compounding basis and applied according to the certificate's purchase date band and encashment date.
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