Sukanya Samriddhi Yojana Tax Benefits & Deductions

Introduction The Sukanya Samriddhi scheme was launched by the Indian Government to promote girl child education. This scheme encourages parents or guardians to save from a young age of the girl towards her higher education and marriage expenses.
The account requires a minimum deposit of Rs 250 in a financial year which can be taken to a maximum of Rs 1.5 lakhs in a financial year. Further, the interest accrued is higher than most saving schemes at 8.4%. However, the most attractive benefit is certainly the tax exemptions that this scheme offers.

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Sukanya Samriddhi Yojana tax benefits
Frequently Asked Questions

Sukanya Samriddhi Yojana tax benefits

Deductions upto Rs 1.5 lakhs per year is available to the taxpayer under section 80C
Tax exemption on interest accrued every year which is compounded to maximise returns
Tax exemption on principal amount at the time of maturity.

The Sukanya Samriddhi account is the only saving scheme, other than PPF, which offers such exceptional tax benefits and interest rate to encourage savings and promote girl child welfare.

Frequently Asked Questions

Q- Is loan facility offered against Sukanya Samriddhi account?

Ans: No. Loans are not permitted against this account.

Q- Is the entire principal amount tax exempt in this scheme?

Ans: Yes. On maturity, your entire amount will be exempt from taxes.

Q- Can I change the name of a girl child in SSY account?

Ans: Yes. You need to file an affidavit with the name change request in the post office or bank wherever you have opened the account.

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