New Delhi: Today is International Girl Child Day 2023. The United Nations had declared Octoner 11 as International Girl Child Day to discuss the challenges and issues faced by girl children in the world.
On International Girl Child Day today, Sukanya Samriddhi Account could be one investment plan that you could think about your girl child so that you can build a decent fund upon maturity of the scheme.
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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 8% Per Annum, calculated on yearly basis, and 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 30 lakh by Investing Just Rs 177 daily
You can build a huge corpus for your girl child under Sukanya Samriddhi Yojana Scheme. If you invest Rs 176.71 per day or Rs 5,375 per month, your yearly contribution will be Rs 64,500. If you deposit the money for 15 years, the total deposited amount will be Rs 9,67,500 which will fetch compound interest of Rs 20.34 lakh. Hence, at the end of 15 years your total earnings will be Rs 30.01 lakh @8 percent interest rate.
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The Sukanya Samriddhi Account gives major tax benefits to the subscribers. Here are four prominent ones:
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.
