Income Tax Exemption for Sukanya Samriddhi Yojana: This is another strong element added to this Govt. scheme. All doubts regarding 80C benefits is clear after FM Arun Jaitley has declared that interest earned and the tax on maturity will be completely nil.
After PPF, this is another small savings scheme which is getting super hit with time. Although FM has not encouraged any of the expectation from experts regarding middle class people and kept the income tax slab rates are similar to last year.
However, income tax rules for this Govt. scheme are completely clear. But, is Sukanya Samriddhi EEE? 80C deduction rules was already declared for investment under this account. So this scheme for girl child is now a EEE scheme similar to PPF account.
Sukanya Samriddhi Account Tax Exemption & Benefits
Sukanya Yojana will definitely get more attention in coming days as various campaigns are being arranged to improve awareness. Initially it has started spreading awareness in Haryana and few more states in India. But gradually it is spreading in more states like Mumbai and Chennai.
After clearing all tax related doubts it will be easier to market this plan. Govt. is expecting huge money by opening Sukanya Samriddhi Account in coming days. You can check out the list of banks authorised to open Sukanya Samriddhi account besides post office.
How to avail Income Tax Exemption for Sukanya Samriddhi Yojana?
If you have opened an SSY account in the name of your girl child and contributed some amount under the scheme, you can then avail tax benefits for the deposited money as well as interest amount. At the time of filling your income tax return, you need to mention about this contribution and the same amount will get deducted from your due income tax.
Don’t Miss: Download Sukanya Samriddhi Yojana Application Form
Sukanya Samriddhi Account Interest Rate
Recently FM has changed the interest rate of SSA Account. One can earn 8.6% interest from this SSY scheme on compounding annually basis. Hopefully we will hear more about how this will change in coming years.
Hope you are now clear about the rules of tax exemption for Sukanya Samriddhi Yojana along with other income tax benefits. Keep a track by subscribing to this website to get more information related to Sukanya scheme.
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