Hey Tanvi,

For KVPY you can sit this year as well as next year too. KVPY is organised for undergraduation students also so when you will be in first-year, you can apply KVPY too. There are two options for KVPY, one for school students and one for undergrad students. When you'll be applying, you'll see a category option where you have to select one of them.

I hope this helps you, good luck!