21.Interest on KVP is:
A. Tax-free
B. Exempt under Section 10(10D)
C. Fully taxable
D. Deducted at source
22.Does KVP offer any tax deduction under Section 80C?
A. Yes, full amount
B. Yes, up to ₹1.5 lakh
C. No tax benefit
D. Only for senior citizens
23.Transfer of KVP account is allowed in which of the following cases?
A. Change in residence
B. On death of account holder
C. On marriage of account holder
D. On achieving maturity
24.KVP nomination facility is:
A. Not available
B. Compulsory
C. Available
D. Only for single accounts
25.In a joint account, if one account holder dies, KVP account
A. Is closed
B. Is forfeited
C. Transfers to surviving holder(s)
D. Cannot be transferred
26.Which form is used to open a KVP account?
A. Form-3
B. SB-10
C. Form-1
D. GSPR-5
27.Which age group is not restricted under KVP eligibility?
A. Adults
B. Senior citizens
C. Children above 10
D. All of the above
28.What happens to excess deposit beyond the maturity value in KVP?
A. Forfeited
B. Refunded with POSA interest
C. Refunded without interest
D. Added to interest
29.What is the investment tenure of KVP accounts opened post April 2020?
A. 120 months
B. 124 months
C. 125 months
D. 128 months
30.KVP account can be transferred to another location:
A. Only with RBI permission
B. Cannot be transferred
C. Can be transferred anywhere in India
D. Only within same circle
