What are the salient features of Kisan Vikas Patra? 1. Investment up to Rs. 1.5 lakh, get tax-deduction benefit under IT act. 2. KVPs can be pledged as security-deposit in public sector banks only. 3. KVP Funds can be withdrawn from ATMs using Kisan Credit card.

The correct answer is: C. Only 1 and 3

Here is a brief explanation of each option:

• Option 1: Investment up to Rs. 1.5 lakh, get tax-deduction benefit under IT act.

This is a correct statement. Kisan Vikas Patra (KVP) is a savings certificate scheme offered by the Government of India through the post offices. It is a popular investment option for farmers and other small investors. KVPs are issued in denominations of Rs. 100, Rs. 500, Rs. 1000, and Rs. 5000. The minimum investment amount is Rs. 100 and the maximum investment amount is Rs. 1.5 lakh. KVPs are eligible for tax deduction under Section 80C of the Income Tax Act, 1961.

• Option 2: KVPs can be pledged as security-deposit in public sector banks only.

This is an incorrect statement. KVPs can be pledged as security-deposit in any bank, both public sector and private sector.

• Option 3: KVP Funds can be withdrawn from ATMs using Kisan Credit card.

This is an incorrect statement. KVP Funds cannot be withdrawn from ATMs using Kisan Credit card.

I hope this helps!