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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.