look news india
SSY: There is important news for those who have opened an account in the name of their daughter under Sukanya Samriddhi Yojana and that is that the government has made a big change in the rules of this scheme. If you do not follow those rules in time, then your daughter's account may also be closed. The changes made by the government in the rules of Sukanya Samriddhi Yojana will come into effect from October 1, 2024. Let us know what kind of changes the government has made in the rules of Sukanya Samriddhi Yojana.
What is the objective of Sukanya Samriddhi Yojana?
For the education and marriage of the daughters of the country, the government started Sukanya Samriddhi Yojana in 2015. It is also called SSY or SSY scheme in short. Under this scheme, an account has to be opened in the name of the daughter in any post office or bank of the country and money has to be deposited every month. An account can also be opened by depositing Rs 250 in it. Under this scheme, after the girl turns 10, money has to be deposited in the account every month for 15 consecutive years. When the girl turns 21, she is given money with interest.
How much return including interest is received on Sukanya Samriddhi Yojana?
Investing in the government's small savings scheme Sukanya Samriddhi gives great interest. Under this scheme, 8.2% interest was given for the January-March 2024 quarter. By depositing Rs 1.5 lakh annually for 15 consecutive years, the total investment amount in the scheme will be Rs 22,50,000. The interest rate of 8.2% on this amount will be Rs 46,77,578. When the daughter turns 21, she will get around Rs 69,27,578.
Tax exemption on investment in Sukanya Samriddhi
Investing in Sukanya Samriddhi Yojana provides tax exemption of up to Rs 1.5 lakh under Income Tax Section 80C. Under this scheme, there is also a facility to withdraw money before the maturity date as per the need. When the daughter turns 18, up to 50 percent of the total deposit amount can be withdrawn from this account for her education.
Under the new rule, it is mandatory to transfer the account to the legal guardian
According to a report by the English website Economic Times, the changes made in the rules of Sukanya Samriddhi Yojana will have a direct impact on the accounts opened under the National Small Savings Scheme. According to the new rule, if the account of a girl child is not opened by her legal guardian, then it will have to be transferred to her parents or legal guardian. If this is not done, that account will be closed forever. The report says that this new rule will come into effect across the country from October 1, 2024.
Important things related to Sukanya Samriddhi
- Under Sukanya Samriddhi Yojana, an account can be opened with a minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited in a financial year
- An account can be opened in the name of a girl child in any post office or bank in the country only after she attains the age of 10 years.
- Only one account will be opened in the name of a girl child.
- Under Sukanya Samriddhi Yojana, account can be opened in post offices and authorized banks.
- Withdrawal will be allowed to meet education expenses for the purpose of higher education of the account holder.
- The account can be closed prematurely when the girl child attains 18 years of age and gets married.
- The account can be transferred from one post office or bank to another post office or bank anywhere in India.
- The account will mature on completion of a period of 21 years from the date of opening the account.