Sukanya Samriddhi Yojana: Government’s big scheme for daughters, depositing minimum Rs 250 will get the benefit of lakhs, know everything here
For the bright future of the country’s daughters, the government had started ‘Sukanya Samriddhi Yojana’ (Sukanya Samriddhi Yojana). This scheme was started under the ‘Beti Bachao, Beti Padhao’ campaign. Joining this scheme helps parents to bear the expenses for their daughters from education to marriage.
Get tax exemption on investment
Under Section 80C of the Income Tax Act, tax exemption is also available for investing in Sukanya Samriddhi Yojana. This means that by investing Rs 1.5 lakh every year, you can avail tax exemption. Apart from this, the returns received in the scheme are also tax free. By investing in Sukanya scheme every financial year i.e. till March 31, you can avail tax exemption for the financial year. During this time, if you join this scheme, you will get 7.6 percent interest.
When can the account be opened?
If your daughter’s age is less than 10 years then you can open Sukanya Samriddhi account anytime. This account can be opened with a minimum balance of Rs.250. Earlier, 1000 rupees had to be deposited for this, but now it is not so. Along with this, Rs 1.5 lakh can be deposited in Sukanya Samriddhi Scheme in any financial year.
Account can be opened in bank or post office
You can open this account in any post office or bank. It can be continued till the age of 21 years from the date of opening the account or till the girl child turns 18. After this, up to 50% of the amount can be withdrawn from this account for higher education when the girl child turns 18.
These are the important documents
Along with the birth certificate of the daughter, the identity card of the daughter and her parents/guardian will also have to be given.
The specialty of Sukanya Samriddhi Yojana
- In this scheme, you can invest only for the girl child from 0 to 10 years.
- At the age of 18, the girl child can withdraw up to 50 percent of the deposit amount.
- This account can be opened for a maximum of two girls in a family. Provided that in case of birth of twin/triple girl child, more than two accounts may be opened.
- The account can be opened with a minimum initial deposit of Rs.250 in a financial year.
- Lump sum or installments ranging from Rs 250 to Rs 1.50 lakh can be deposited in the account in a financial year. The amount to be deposited should be in multiples of Rs.50.
- Amount can be deposited in this till the completion of maximum 15 years from the date of opening of the account.
- If minimum Rs 250 is not deposited in an account in a financial year, the account will be treated as default account.
- Interest will be credited to the account at the end of each financial year.