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Plan your daughter's future with Sukanya Samriddhi Yojana (SSY)

  • Writer: YashJ
    YashJ
  • Oct 26, 2021
  • 2 min read

Minimum Rs. 250/- & Maximum Rs. 150000/- in a F.Y. + Tax free interest.

Income tax rebate under sec.80C .


Sukanya Samriddhi Yojana Eligibility Criteria

  • Account can be opened only by the Natural/Legal Guardian for a Girl Child.

  • The age of the girl child to be below 10 years at the time of opening of account.

  • A single account can be opened for a girl child. Two SSY accounts are allowed in a family (one for each girl). Exception in case of twins.

Features of Sukanya Samriddhi Yojana

  • Minimum of Rs 250 and Maximum of Rs. 1.5 Lakhs can be invested in one financial year.

  • The account shall mature on completion of a period of twenty-one years from the date of its opening.

  • However, deposits towards the scheme should be made for a period of 15 years.

Tax benefits

  • Comes under EEE (Exempt, Exempt, Exempt) investment category.

  • Principal amount, the interest earned and the maturity amount are tax-free

  • U/s 80C of the Income Tax Act, 1961, tax benefits of up to Rs.1.5 lakh are provided for contributions.

Premature Closure

  • Premature Withdrawal is allowed once the girl is 18 and getting married.

  • In case of unfortunate untimely demise of the girl child, the account can be closed prematurely.

  • The account can also be closed prematurely in the case of inability to deposit the amount by the depositor and is causing financial issues to the depositor.

Withdrawal Rules

  • After the account holder attains the age of eighteen years or has passed tenth standard, on an application in Form-3, withdrawal of upto a maximum of 50% of the amount in the account, for the purpose of education of the account holder.

  • The withdrawal can be made in one lump sum or in installments of not more than once per year for a maximum of five years.

Closure of Account on Maturity

  • The account shall mature on completion of a period of 21 years from the date of its opening.

  • Closure of the account also permitted before completion of twenty-one years for marriage of a girl child after attaining the age of 18years.

  • No Such closure shall be allowed before one month from the date of the intended marriage or after three months from the date of marriage.




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