What are the tax benefits of Sukanya Samriddhi Yojana account ?
These are the benefits of Sukanya Samriddhi Yojana account
- This account is 100% tax free.
- We will get exemptions for the deposited amount in this account under section 80c of Income Tax Act.
- High interest rate is another benefit (8.5%)
- There is a lock-in period for this account. ie; the account is matured only after 21 years.
- It is similar to the Public Provident Fund (PPF).