This Beti Bachao Beti Padhao Scheme Offers 8.2% Returns: Check Features, Eligibility, Steps To Apply
Benefits of Sukanya Samriddhi Yojana:
The SSY scheme, meant for girls below 10 years, offers many benefits. One can open an account under this scheme with as less as Rs 250 deposit, claim tax deductions and get attractive returns. At present, the scheme offers 8.2% returns p.a., which is subject to periodic review by the government.
The maximum deposit allowed in this scheme is capped at Rs 1.5 lakh per financial year. Once started, the deposits must continue for 15 years. The account matures 21 years from the opening date.
Sukanya Samriddhi Yojana Eligibility:
A Sukanya Samriddhi Yojana account can be opened by parents or legal guardians for a maximum of two girl children. The age of the child must be 10 years or below. After the girl turns 18, 50% of the savings can be withdrawn for education, with valid admission proof required.
Sukanya Samriddhi Yojana Tax Benefits:
Sukanya Samriddhi Yojana scheme comes with triple tax benefits. Deposits up to Rs 1.5 lakh per financial year qualify for deductions under Section 80C of the income tax rules. Parents can use this scheme to lower their taxable income during ITR filing. The interest accrued under this scheme is exempt from tax and is compounded annually. The amount received upon maturity is also free from tax.
Steps To Apply For Sukanya Samriddhi Yojana:
Fill the SSY Account Opening Form: Reach out to your bank or a post office and fill out the official Sukanya Samriddhi Yojana account form.
Submit documents such as girl child's birth certificate, guardian's ID and address proof, Aadhaar or passport, etc
Deposit any amount between Rs 250 and Rs 1.5 lakh in a particular financial year to start the account.
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