New Delhi: Sukanya Samriddhi Account can be opened in the name of a girl child till she attains the age of 10 years. Account can be opened in Post offices and notified branches of commercial banks. The rate of interest on Sukanya Samriddhi Account is 7.6% Per Annum (with effect from 01-04-2020), calculated on yearly basis ,Yearly compounded.
Account can be opened with a minimum of Rs 250 and Maximum Rs 1,50,000 in a financial year. Subsequent deposit in multiple of Rs 50. Deposits can be made in lump-sum No limit on number of deposits either in a month or in a Financial year.
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Sukanya Samriddhi Yojana: How to get Rs 66 lakh by Investing Rs 411 daily
Thus, you can build a Huge corpus for your girl child when she attains 21 years. Assuming, you invest the entire tax free amount of Rs 1.5 lakh in a year. In 15 years, you will invest a total of Rs 22,50,000 which means per day you will have to set aside approximately Rs 411. After attaining 21 years, your daughter will get the maturity amount of Rs 65,93,071 (Rs Rs 22,50,000 + the interest on of Rs Rs 43,43,071).
The Sukanya Samriddhi Account gives major tax benefits to the subscribers. Here are four prominent ones:
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1. Investments made in Sukanya Samriddhi Account are eligible for tax deductions under Section 80C of the IT act.
2. Deduction of up to a limit of Rs 1.5 lakh is allowed annually on Sukanya Samriddhi Account.
3. The interest that accrues against this account which gets compounded annually is also exempt from tax under Section 10 of the Income Tax Act.
4. The proceeds received upon maturity/withdrawal are also exempt from income tax.
