Deemed accrual of interest on certain Indira Vikas Patra certificates alters tax treatment by treating compounded interest as yearly accrual. For certificates purchased in the specified purchase window, interest compounded on the initial sale value shall be deemed to have accrued at the end of each year, calculated from the date of initial purchase up to the end of five and a half years, for the purpose of tax payable by the holder in the relevant assessment year under the law.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deemed accrual of interest on certain Indira Vikas Patra certificates alters tax treatment by treating compounded interest as yearly accrual.
For certificates purchased in the specified purchase window, interest compounded on the initial sale value shall be deemed to have accrued at the end of each year, calculated from the date of initial purchase up to the end of five and a half years, for the purpose of tax payable by the holder in the relevant assessment year under the law.
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