Sukanya Samriddhi Yojana: 5 big changes in Sukanya Samriddhi Yojana, if investors don't know, there will be loss



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Sukanya Samriddhi Yojana: 5 big changes in Sukanya Samriddhi Yojana, if investors don't know, there will be loss

Sukanya Samriddhi Yojana Changes: The Sukanya Samriddhi Yojana (SSY) launched by the Modi government is a good initiative keeping in mind the future of the girl child. If you also want to invest or are investing in this government scheme then you should know about the changes in it.


Investing in 'Sukanya Samriddhi Yojana' (SSY), one of the government's small savings schemes, also gets you exemption under Section 80C. Apart from this, you get an interest of 7.6 percent per annum. Let's know about 5 major changes in SSY.

Under the new rules, the provision of refunding wrongful interest in any Sukanya Samriddhi account has been removed. Earlier there was a provision for deletion of wrongful interest. Apart from this the annual interest of the account will be credited at the end of every financial year.

Earlier your daughter could operate her 'Sukanya Samriddhi Yojana' account at the age of 10 years. According to the new rules, however, daughters below the age of 18 are no longer allowed to operate accounts. That is, the parents will operate the account till the age of 18 years of the daughter.

You can deposit a minimum of 250 rupees and a maximum of one and a half lakh rupees annually in the account. If you do not deposit the minimum amount, your account may default. You can deposit money any number of times in a month.

Under the new rules, interest continues to accrue even on defaulted accounts. If your account is not active then the interest would be paid at the rate applicable on the amount deposited in the account till maturity. Earlier this rule was not there.Earlier the investor got the benefit of tax exemption under Section 80C only on opening the accounts of two daughters. The third daughter did not have this advantage. But if there are two twin daughters after one daughter then there is a provision to open account for both of them also.

Account of 'Sukanya Samriddhi Yojana' could be closed earlier on death of daughter or change of address of daughter. But now life-threatening illness of the account holder has also been included in it. The account can be closed prematurely even on the death of the parent.

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