What is the agent commission on KVP?
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What is the agent commission on KVP?
Post Office Small Saving Schemes – Rate of Commission of Agents
| Sr. No. | Name of Scheme | Rate of Commission |
|---|---|---|
| 5 | National Savings Monthly Income Account | 0.5\% |
| 6 | National savings Certificate (5 years) | 0.5\% |
| 7 | Public Provident Fund Scheme | Nil |
| 8 | Kisan Vikas Patra | 0.5\% |
How much commission does a postal agent get?
Three percent. If you open a 5-year Recurring Deposit (RD) at the Post Office through an Agent, the Agent gets a commission of 3\% on the amount deposited each month. For a Rs 5,000 per month RD, the Agent’s commission is Rs 150 per month.
How much amount is paid for Kisan Vikas Patra?
Kisan Vikas Patra is a certificate scheme from the Indian post office. It doubles a one-time investment in a period of approximately 10 years & 4 months (124 months) if you purchase the certificate between 1 July 2021 and 30 September 2021. For instance, a Kisan Vikas Patra for Rs. 5000 will get you a corpus of Rs.
How is KVP interest calculated?
There is no fixed tenure of KVP. It depends on the interest rate as declared by the Government from time to time. As per the present interest rate of 6.9\% per annum for this scheme, the tenure of investment comes to 10 years and 4 months (i.e., 124 months).
What is a post office agent?
The post office agent’s job entails assisting the general public in booking letters, selling and collecting Insurance premiums, sales of Postal Bond Fixed Deposits, and so on, i.e., all kinds of monetary deposits, and policies. Related Read: Benefits of DOP Agent Software For India Post Agent.
How do I become a post office agent?
If anyone wants to become a DOP agent (Post office agent), then he has to submit the following documents to the District Collector office.
- Application Form for India Post Agent.
- Agreement form.
- Nomination form.
- An affidavit which is attested by the Magistrate for Rs.
- Two character certificates.
How do I get a post office RD Agency?
What is postal commission?
The Postal Regulatory Commission is an independent Federal agency that provides transparency and accountability of the U. S. Postal Service’s operations. Learn More. The Postal Regulatory Commission is an independent Federal agency that provides transparency and accountability of the U. S. Postal Service’s operations.
What is KVP account in post office?
Kisan Vikas Patra (KVP) is a savings scheme available at India Post Offices in the form of certificates. It is a fixed rate small savings scheme designed to double your investment after a predetermined period of time (124 months in the currently available issue).
Does post office deduct TDS on KVP?
Taxation of Kisan Vikas Patra Scheme, 2019 There is no incentive for investment in KVP and Interest on KVP is taxable on accrual basis and will be taxed as Income from Other Sources. deduction under section 80C is not allowed on this investment. TDS is not deductible on Interest on KVP.
What is the KVP post office scheme?
KVP Post Office scheme is a fixed return scheme that offers guaranteed returns and is backed by the government of India. The salient features of Kisan Vikas Patra are as follows: 1. Purchase of Kisan Vikas Patra Certificate
What is the current interest rate applicable to KVP?
KVP Interest rate may change periodically based on the announcements made by the Finance Ministry. The current interest rate applicable to KVP is 6.9\% per annum which will double your investment in 124 months. The following are the historical interest rates offered by the Kisan Vikas Patra scheme* :
How much is the agent’s commission for a Rs 5000 deposit?
For a Rs 5,000 per month RD, the Agent’s commission is Rs 150 per month. The good thing though is that this commission isn’t deducted from your deposit — it’s paid separately by the Post Office to the Agent. ⟵ Investment Strategies: How to Save 5 Lacs in 5 years?
What is the Commission for a recurring deposit at the post office?
If you open a 5-year Recurring Deposit (RD) at the Post Office through an Agent, the Agent gets a commission of 3\% on the amount deposited each month. For a Rs 5,000 per month RD, the Agent’s commission is Rs 150 per month.