Realize what Sukanya Samrudhi Yojana is – how to exploit it
6) Deposits in a Sukanya Samriddhi account may be made till the completion of 15 years, from the date of opening of the account. For example, if an account was opened on 13 May, 2016, deposits can be made up to 12 May, 2031. After this period the account will only earn interest as per applicable rates.
2) The minimum annual deposit requirement, or the minimum amount required to be deposited in Sukanya Samriddhi account every year, has also been lowered to ₹ 250, from ₹ 1,000 earlier. These new rules came into effect from July 6, 2018.
Unfortunately, Sukanya Samriddhi Yojna is applicable on girl child below 10 years of age. Not to worry,for your daughter there are plenty of other investment options.
By mid-March 2015, within 2 months of launch, 1,80,000 accounts had been opened under the scheme. Karnataka, Tamil Nadu and Andhra Pradesh reported highest number of new accounts.[7] The number of accounts opened up to October, 2015 under Sukanya Samriddhi Yojana across the country is 76,19,668. The impact is that 76,19,668 girl children got ₹28.38 billion (US$400 million) deposited in their name.[16]
Sukanya Samriddhi Yojana (SSY) is a small deposit scheme for the girl child launched as a part of the 'Beti Bachao Beti Padhao' campaign. One of the reasons why this scheme has become popular is due to its tax benefit. It comes with a maximum tax benefit of Rs 1.5 lakh under section 80C of the Income-tax Act. Further, the interest accrued and maturity amount are exempt from tax. If you are planning on investing in the scheme, you can use the Sukanya Samriddhi Yojana calculator to calculate the maturity amount at the end of the tenure. You can use the calculator to find out how much you can approximately save via this scheme for the daughter's higher education and/or marriage. Who can use SSY calculator? To use this calculator, one must satisfy the eligibility conditions of the Sukanya Samriddhi scheme. According to the rules, the following people are eligible to open a Sukanya Samriddhi account: a) Age of girl child should not exceed 10 years b) She should be a resident citizen of India c) Account cannot be opened for more than two girl children in a single family How to use Sukanya Samriddhi calculator If you satisfy eligibility conditions, then the calculator will ask you to provide the age of your daughter/s and amount that you want to invest in the scheme. The minimum amount you can invest is Rs 1,000 and maximum is Rs 1.5 lakh in a single financial year. With effect from 5 July, 2018, the government has reduced the minimum investment amount to Rs 250. How the calculator works The calculator, based on the amount entered by you, calculates the approximate value that will be received by you at maturity. The scheme will mature after the completion of 21 years from the date of opening of the account. According to the scheme rules, a depositor is required to make deposits every year till the completion of 15 years from the date of opening of account. Here, the calculator assumes that you have made all the deposits every year of the same amount as selected by you. Between the 15th year and 21st year, no deposits are required to be made. However, you will be earning interest on the earlier deposits made. The calculator takes into account the interest that will be accrued to you during those years. What does the calculator show? Depending on the information provided by you, the calculator will show you the year in which the account matures, the maturity value, interest rate using which the maturity value is arrived at. It also shows the break-up of amount that you can invest monthly in the scheme. While arriving at the maturity value, we have assumed interest rate of 8.1 per cent per annum throughout the next 21 years as it is currently offered in the Sukanya Samriddhi Yojana.
information source :2
report 1
report 2
▼☞more information here from official site
● Document needed for the plan
◆ Baby s Birthday Certificate
◆Addresd Proof
◆Id Proof
