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What are the tax benefits of Sukanya Samriddhi Yojana account ?

answer

R

Raju

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).