National Girl Child Day: National Girl Child Day is celebrated every year on 24 January in India. The Government of India started it in the year 2008. Its objective is to make daughters/girls aware of their rights and remove inequalities. Nowadays, there is a lot of expenditure on children’s education and marriage. In this era of inflation, if you want a bright future for your daughter, then you can open her account in a government scheme. This scheme is Sukanya Samriddhi Yojana. By investing a little in this scheme, you can prepare a substantial fund for your daughter’s higher education and marriage.
Open account at this age
Parents can open their daughter’s account in Sukanya Samriddhi Yojana (SSY Account) before she completes 10 years of age. Sukanya Samriddhi account can be opened only for 2 daughters in a family. In cases of twins or triplets, more than 2 accounts can be opened. Contribution can be made in Sukanya Samriddhi Yojana till completion of maximum 15 years from the date of opening the account. If an investor opens an account in the scheme immediately after the birth of his daughter, he can deposit his contribution for 15 years. After this there is a lock-in period of 6 years. During this period no investment has to be made, but interest continues to be received. In this scheme, 50 percent of the maturity amount can be withdrawn when the daughter turns 18 years old. The remaining amount can be withdrawn when the daughter turns 21 years of age.
In this way a fund of Rs 70 lakh will be created
Sukanya Samriddhi Yojana currently offers 8.2 percent compound interest rate per annum. In this scheme, you can deposit a minimum of Rs 250 and a maximum of Rs 1,50,000 in a financial year. You can make this investment in installments or in lump sum. Suppose you open an account in Sukanya Samriddhi Yojana in the year 2024 when your daughter turns 1 year old. If you deposit Rs 1,50,000 in SSY account every financial year, you can get a total of Rs 69,27,578 at the time of maturity in the year 2045. The amount invested by you in this will be Rs 22,50,000. At the same time, the interest income will be Rs 46,77,578.
can save tax
Investors can avail income tax exemption on investment up to Rs 1.50 lakh in a year in Sukanya Samriddhi Yojana. Sukanya Samriddhi Yojana comes with EEE status. That means tax exemption is available at three places. Tax exemption is available on the amount invested in Sukanya Samriddhi Scheme. The interest earned from this scheme is also tax free. Apart from this, the maturity amount in this scheme is also tax free.
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