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Showing posts with the label Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana (SSY) 2020

Who is eligible for a Sukanya Samriddhi Yojana account?
Guardians can open an account on behalf of their girl child anytime between when she is born and before she reaches the age of 10.How many accounts can be created under SSY?Only one SSY account is permitted for a girl child. The number of accounts guardians can create is restricted to two for each of their girl child. Exceptions are only in case of twins or triplets Sukanya Samriddhi Yojana (SSY) is a small deposit scheme for the girl child launched as a part of the 'Beti Bachao Beti Padhao' campaign. One of the reasons why this scheme has become popular is due to its tax benefit. It comes with a maximum tax benefit of Rs 1.5 lakh under section 80C of the Income-tax Act. Further, the interest accrued and maturity amount are exempt from tax. 
If you are planning on investing in the scheme, you can use the Sukanya Samriddhi Yojana calculator to calculate the maturity amount at the end of the tenure. You can use the calculator…