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).
Sukanya Samriddhi Yojana - Recently Asked Questions
How can I change SSY (Sukanya Samriddhi Yojana), account guardian? My wife opened an SSY account in her SBI account. I want to transfer SSY account into my SBI account where PPF, NPS and other things can be managed from one place.
How can I update my daughter’s name in Sukanya Samriddhi Yojana? I have already opened SSY in the post office. Now, I want to add an initial to my daughter’s name on the birth certificate. Can I make the same changes in the SSY account?