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Sukanya Samriddhi Yojana – An tax saving option

New deduction under section 80C is added in budget 2015 Sukanya Samriddhi Yojana.  It is one of the most beneficial initiative scheme launched by the Central Government  by notification for the welfare of a Girl child. Honorable Prime Minister Shri Narendra Modhi has launched this scheme as a Small Saving Scheme as a part of Beti Bachao-Beti Padhao Initiative. At the time of election Women Empowerment is the most crucial matter for all parties. The launching of this scheme is an one step toward in that direction.

What is Sukanya Samriddhi Scheme?

  • The Scheme is defined as Sukanya Samriddhi Account Rules, 2014.
  • The account can be opened at the Post Office or any authorised bank.
  • Download account opening form.
  • An Account can be opened by the Legal/Natural guardian in the name of Girl Child.
  • Account can be opened for a girl child upto a age of 10 years or less. As a starting operations of scheme one year grace has been given. Therefore a Girl child who is born between 2.12.2003 & 1.12.2004 can open account up to1.12.201.
  • Limits of deposits Minimum Rs. 1,000/- & maximum Rs. 1,50,000/-. Subsequent deposit can be in multiple of Rs. 100/-.
  • Rate of interest is 9.1% per annum for F.Y. 2014-15 & for next year rate will be announced.
  • For one Girl child only one account can be opened & maximum two account can be opened for two different girl child.
  • A Minimum of Rs. 1,000/- should be deposited every year & default in the same will make the account discontinued & for reviving the discontinued account a penalty of Rs. 50/- per year with the minimum amount required should be deposited.
  • The deposit is to be made for a period of 14 years from the opening of account & the maturity of the account is 21 years from the opening of account or if the girl get married then such date i.e. marriage date or 21 years whichever is earlier.
  • Withdrawal from the account is allowed only when the girl child attends the age of 18 years. Maximum withdrawal from the account is 50% of the account balance standing at the end of preceding financial year.
  • At the time of maturity if account doesn’t closed by account holder then it will remain operative in the same way as it is operated. Each year interest is accumulated.

Interest rate in Sukanya Samriddhi Yojana

The interest rate for f.y 2015-16 is 9.20%. Interest rate for fy 2014-15 is 9.10%

 Benefits of Sukanya Samriddhi Yojana

  • The total amount deposited in an account will be allowed as deduction u/s. 80C upto a maximum of Rs. 1,50,000/-.
  • The interest earned on this account will be exempted from tax.
  • The amount withdrawn or maturity value is also exempted from tax.
  • The interest rate under this scheme is the highest interest rate among various other saving schemes.

Documents required for opening an account of Sukanya Samriddhi Yojana

  • Identity Proof of the Legal/Natural(Parents) Guardian like Aadhar Card.
  • Residence Proof of the Legal/Natural(Parents) Guardian.
  • Birth certificate of the Girl child.
  • Two Photographs of the Legal/Natural(Parents) Guardian/depositor



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  1. Thank you so much sir for sharing complete information with us. I would like to know that how many deposits I can made in one year ???

    • In a year you can make unlimited times of deposit…but total of all deposits in a year can’t exceeds Rs. 150000/-. The first deposit in a year should of minimum Rs. 1000/-. hope it will make clear….

  2. Thank you so much sir for your reply.

  3. subsequent deposites multiples of Rs.100 ..please explain sir

  4. Sukanya Scheme could be afar better scheme if Govt concentrate on high interest rate. I feel there is no difference between SSY & PPF right now. Thanks for this share.

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