CA Sandeep Kanoi

CA Sandeep KanoiPrime Minister Narendra Modi has Launched Sukanya Samridhi Yojna‘ (girl child prosperity scheme) with the vision to provide for Girl Child Education and Her Marriage Expense. Sukanya Samriddhi Account Scheme is a small deposit scheme for girl child, as part of ‘Beti Bachao Beti Padhao’ campaign, which would fetch yearly interest rate of 8.60% (WEF 01.04.2016) and provide income tax deduction Under section 80C of the Income Tax Act,1961.

In this article we have discussed Provisions of this Scheme alongwith tax and other benefits :-

Date of Commencement of Scheme- Sukanya Samriddhi Account Scheme is been notified by Ministry of Finance vide Notification No. G.S.R.863(E) Dated 02.12.2014. Shceme become operational by notification of rules namely Sukanya Samriddhi Account Rules, 2014’. These Rules were subsequently amended vide Notification No.G.S.R.323(E) dated-18.03.2016 by which government has notified Sukanya Samriddhi Account Rules, 2016’. The Article Analyses these Rules for easy understanding of our readers.

SSA TAXGURUDepositor– For this scheme Depositor is an individual who on behalf of a minor girl child of whom he or she is the guardian and deposits amount in account opened under this scheme. Under the revised rules definition of depositors also include Account Holder.

Who can be ‘Guardian’ under this Scheme – In relation to a minor girl Child Guardian means

(i) either father or mother; and

(ii) where neither parent is alive or is incapable of acting, a person entitled under the law for the time being in force to have the care of the property of the minor.

(iii) Under the Revised Rules Guardian Includes Legal Guardian too, Which means Parents of adopted Child adopted are also Guardian under the revised rules.

One Girl One Account Depositor cannot open multiple or more than one account in the name of a Girl Child. Rules been changed to specify that more than once account cannot be opened for a Girl Child even if depositor are different.

Can be opened for Maximum two girlsNatural or legal guardian of a girl child allowed to open one account each for two girl children’s subject to below conditions.

Account opening for more than two girls – Under this scheme natural or legal guardian of the girl child shall be allowed to open more than two Accounts for girl children’s in a family if such children are born in the first and/or in the second order of birth, on production of a certificate to this effect from the competent medical authority regarding the birth of such multiple girl children in the first two orders of birth in a family. But account under the scheme not allowed to be opened for girl child born in second or successive birth if first order of birth itself in a particular family results in two or more surviving girl children.

Age Restriction for Opening of Account- The account may be opened by the natural or legal guardian in the name of a girl child from the birth of the girl child till she attains the age of ten years and any girl child, who had attained the age of ten years, one year prior to the commencement of these rules shall also be eligible for opening of account under these rules. Scheme is been commenced from 02.12.2014.

Grace Period for Opening of Account Account can be opened up to age of 10 years only from the date of birth. For initial operations of Scheme, one year grace has been given. With the grace, Girl child who is born between 2.12.2003 & 1.12.2004 can open account up to 1.12.2015.

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Documents to Open the Account and how to open the account- Birth certificate of a girl child in whose name the account is opened shall be submitted by the guardian at the time of opening of the account in post office or bank along with other documents relating to identity and residence proof of the depositor.

List of Banks Authorized to Open account under Sukanya Samriddhi Yojana

1. State Bank of India 2. State Bank of Patiala 3. State Bank of Bikaner & Jaipur 4. State Bank of Travancore 5. State Bank of Hyderabad 6. State Bank of Mysore 7. Andhra Bank 8. Allahabad Bank 9. Bank of Baroda 10. Bank of India 11. Punjab & Sind Bank 12. Bank of Maharashtra 13. Canara Bank 14. Central Bank of India 15. Corporation Bank 16. Dena Bank 17. Indian Bank 18. Indian Overseas Bank 19. Punjab National Bank 20. Syndicate Bank 21. UCO Bank 22. Oriental Bank of Commerce 23. Union Bank of India 24. United Bank of India 25. Vijaya Bank 26. Axis Bank Ltd. 27. ICICI Bank Ltd. 28. IDBI Bank Ltd.

Document required for opening Sukanya Samriddhi account are:-

  • Birth documents of girl child (Birth certificate)
  • Address proof of the Guardian
  • Identity proof of the Guardian
  • 3 Photos of of the Guardians and 3 photos of the child
  • Pan card and Aaadhar card copies of of the Guardians

No Fixed Interest Rate- Under this scheme Interest rate is not fixed and Government will declare on yearly basis the Interest on accounts opened under these rules. For the Financial Year 2014-15 Govt. has declared Interest Rate of 9.10% vide Notification F.NO. 2/3/2014.NS-II, DATED 20-1-2015. For Financial Year 2015-16 Govt. notifies Interest Rate of 9.20 % by Office Memorandum (OM) No.6/01/2011-NS.II dated March 31, 2015. For FY 2016-17 govt. has notified interest Rate of 8.60% per Annum.

Interest Rate & Scheme Change Table

S. No. Financial Year Date Range Interest Rate Minimum Investment Maximum Investment
1 2014-15 01/04/2014 to 31/03/2015 9.1 % ₹ 1,000/- ₹ 1,50,000/-
2 2015-16 01/04/2015 to 31/03/2016 9.2 % ₹ 1,000/- ₹ 1,50,000/-
3 2016-17 01/04/2016 to 31/03/2017 8.6% ₹ 1,000/- ₹ 1,50,000/-

Interest After Maturity of account Earlier post maturity also if account holder do not close the account he was eligible for interest till final closure of the account but now No interest shall be payable once the Account completes twenty-one years from the date of its opening.

No Interest on Deposit made on or after 10th day of Month

The interest shall be calculated for the calendar month on the lowest balance in an Account on the deposits made between the close of the tenth day and the end of the month. So Account holder will not get any interest on amount deposited after 10th of the Month for the Month of Deposit.

Option of Monthly Interest

Revised scheme do not gives option of Monthly Interest.

Interest Compounding Monthly/ Yearly

Interest will be compounded yearly and will be credited to account till the account completes twenty one years from the date of opening. The interest shall be calculated for the calendar month on the lowest balance in an Account on the deposits made between the close of the tenth day and the end of the month.

Interest on Contribution in Excess of Rs. 1.50 Lakh Per Annum and withdrawal of excess payment

Deposit in excess of one lakh fifty thousand rupees in any financial year shall, if accepted due to any accounting error, not be eligible for any interest and such amount, which is deposited in excess of an annual ceiling of one lakh fifty thousand rupees, may be withdrawn anytime by the depositor.

Where one can open account? At any post office in India doing savings bank work and Branch of a commercial bank authorised by the Central Government to open an account under Sukanya Samriddhi Account Scheme.

Maximum and Minimum Deposit- The account may be opened with an initial deposit of one thousand rupees and thereafter any amount in multiple of one hundred rupees may be deposited subject to the condition that a minimum of one thousand rupees shall be deposited in a financial year but the total money deposited in an account on a single occasion or on multiple occasions shall not exceed one lakh fifty thousand rupees in a financial year.

Minimum – Rs, 1000/- Per Year

Maximum- Rs. 1,50,000/- Per Year

Term Period – Deposits can be made till completion of Fifteen Years (Earlier it was fourteen years) from the date of opening of the account. The maturity of the account is 21 years from the date of opening of account. In other words No Deposit for the period from 16th to 21st Year of account.

Regularisation of irregular account and Penalty Where minimum amount of Rs. 1000/- a year has not been deposited than such irregular account may be regularised on payment of a penalty of fifty rupees per year along with the minimum subscription of Rs. 1000/- for the year (s) of default any time till the account completes fourteen years.

Interest on Account in Default

If in the case of any Account, the default is not regularised within fifteen years of the opening of the Account, then the whole deposit, including the deposits made prior to the date of default, shall be eligible only for interest rate prescribed for Post Office Savings Bank at the time of its maturity and any amount credited wrongly by way of interest into an Account under default shall be reverted to the Government account as soon as it comes to the notice of the Bank or the post office concerned. ut if the default occurred because of the death of the guardian of the Account holder who opened the account than account holder will get interest as applicable to Sukanya Samriddhi account.

Interest on Change in Status of Account holder to non-citizen or non-resident of India

In the event of change of status of the Account holder’s citizenship or residential status, no interest shall be deemed to accrue to the Account from the change of such status and the Account shall be deemed to be closed prematurely from that date. In case, any interest was credited to the Account after the change of resident status or citizenship of the Account holder, be reverted to the Government account by the post office or the Bank concerned, immediately on being informed of such change in the status of the Account holder.

Mode of Deposit – Deposit can be made in any of the following mode :-

a. cash

b. by cheque or demand draft drawn in favour of the postmaster of the post office concerned or the Manager of the Bank concerned where the Account is opened, with an endorsement on the back of such instrument made and signed by the depositor indicating the name of the Account holder and Account number in which the deposit is to be credited;

c.through electronic means (e-transfer) in the concerned post office or Bank if such post office or bank has access to the facility of CBS.

Date of Credit of Deposit Made

(a) where the deposit is made by cheque, the date of encashment of the cheque;

(b) where the deposit is made by demand draft, the date of submission of the same to the Bank or post office; and

(c) where the deposit is made by e-transfer, the date of deposit.

Who can Operation the account and can the girl child operate the account?

(1) The Account shall be operated by the guardian till the beneficiary Account holder attains the age of ten years or till the beneficiary Account holder attains the age of eighteen years.

(2) The Account shall be operated by the beneficiary Account holder after such Account holder attains the age of eighteen years: Provided that the Account may be operated by the beneficiary Account holder after such Account holder attains the age of ten years.

Premature closure of account –

Though the duration of the Sukanya Samriddhi account is 21 years from the date of the opening of the account but request for premature closure can be made after 5 years from the date of opening of account in following scenarios :-

1. Untimely death of the account holder – In the unfortunate event of death of the beneficiary account holder (girl child), the account shall be closed immediately on production of death certificate issued by the competent authority. In that case the balance at the credit of the account shall be paid along with the accrued interest till the date of death shall be paid to the guardian.

2. Account holder become a non-citizen or NRI- If, after the opening of an Account, the Account holder becomes a non-citizen or non-resident of India, intimation to this effect shall be given by the guardian or the Account holder to the post office or the Bank concerned, as the case may be, within a period of one month from the date of such status of the Account holder’s citizenship or resident status. No interest shall be deemed to accrue to the Account from the change of such status and the Account shall be deemed to be closed prematurely from that date and credit in the account will be returned to along with interest due, to the Account Holder.

3. Extreme compassionate grounds– Where the post office or the Bank concerned is satisfied, in cases of extreme compassionate grounds such as medical support in life-threatening diseases of the Account holder or death of the guardian, that the operation or continuation of the Account is causing undue hardship to the Account holder, it may, after complete documentation, by order and for reasons to be recorded in writing, allow premature closure of the Account.

4. For Other Reasons– Premature closure of an Account may be permitted, anytime after the opening of an Account, for any reason other than provided under this sub-rule, and in which case the whole deposit shall be eligible only for the interest rate prescribed for the Post Office Savings Bank.

Pass book

(1) On opening an Account, the guardian shall be given a pass book bearing the name, address and date of birth of the Account holder, date of opening of Account, Account number, name and address of the guardian, relationship with the Account holder and the amount deposited.

(2) A duplicate passbook may be subsequently issued in the event of loss, mutilation, etc., of the original passbook, on the written request of the guardian or the Account holder, on payment of a fee of fifty rupees and such fees shall be creditable to the Government account.

(3) The guardian or the Account holder shall have the option to maintain the Account records exclusively in electronic form, provided the post office or Bank concerned has access to the facility of CBS.

Transfer of account to other place

(1) The Account may be transferred anywhere in India and from or to post offices and from or to Banks and between post office and Bank, free of cost on furnishing of proof of shifting of residence of either the guardian or the Account holder and otherwise, on payment of a fees of one hundred rupees to the post office or the Bank to which the transfer is made.

(2) The process of transfer shall be effected electronically if the post office or the Bank concerned, has access to the facility of CBS.

Pre-Mature Withdrawal for Education

(1) Withdrawal of upto a maximum of fifty per cent of the balance in the Account at the end of the financial year preceding the year of application for withdrawal, shall be allowed for the purpose of higher education of the Account holder but such withdrawal shall not be allowed unless the Account holder attains the age of eighteen years or has passed tenth standard, whichever is earlier.

(2) The application for withdrawal shall be accompanied by a documentary proof in the form of a confirmed offer of admission of the Account holder in an educational institution or a fee-slip from such institution clarifying such financial requirement.

(3) The withdrawal may be made as one lump sum or in instalments, not exceeding one per year, for a maximum of five years, subject to the limit specified in point (1) above.

(4) withdrawal shall be restricted to the actual demand of fee and other charges required at the time of admission as shown in the offer of admission or the relevant fee-slip issued by the educational institution.

Closure on maturity or before maturity due to Marriage of Account Holder and Payment of Interest and Principal on Maturity

(1) The Account shall mature on completion of a period of twenty-one years from the date of its opening but final closure of the Account may be permitted before completion of such period of twenty one years, if the account holder, on an application, makes a request for such premature closure for reasons of intended marriage of the Account holder and on furnishing of age proof confirming that the applicant will not be less than eighteen years of age on the date of marriage. No such premature closure shall be made before one month preceding the date of the marriage or after three months from the date of such marriage.

(2) On maturity, the balance including interest outstanding in the Account shall be payable to the Account holder, on an application by the Account holder for closure of the Account, and on furnishing documentary proof of her identity, residence and citizenship.

(3) No interest shall be payable once the Account completes twenty-one years from the date of its opening.

Tax Benefit The amount deposited towards Sukanya Samriddhi Account is deductible under section 80C of Income tax Act,1961 upto Rs.1.5 lakhs as notified by Notification No. 09/2015 dated 21.01.2015. Amount deposited in this account will be counted in overall limit of Rs. 1.50 Lakh under section 80C. Interest earned in this scheme as well as maturity amount is exempt from Income Tax wef F.Y. 2014-15. Also Read- Interest on & withdrawal from Sukanya Samriddhi Account exempt from Tax

Comparison with PPF in respect of Tax Benefit- Investment in Both PPF & Sukanya Samriddhi Account is eligible for deduction under section 80C of the Income Tax Act, 1961. Like PPF in Sukanya Samriddhi Account also Interest and Maturity amount is exempt from Tax.

Drawback of the Sukanya Samriddhi Account Scheme-

  1. High Lock in Period
  2. Limitation on No. of Account
  3. Scheme do not provide for online transfer of Amount in this account. It allows only payment by Cash, Cheque and Demand Draft.
  4. No Clarity on Future Interest Rate for this account.

Benefits of Sukanya Samriddhi Account Scheme-

1. Higher Interest Rate

2. Tax Benefit Under Section 80C

3. Payment on Maturity to Girl Child.

4. Flexibility in Deposits- Any Number of time amount can be deposits in Multiple of Rs. 100 subject to Maximum Limit of Rs. 1.50 Lakh per year.

5. Transferable Anywhere in India.

6. Even Girl Child can operate after she attains the Age of 10 Year.

Conclusion It’s a good scheme started with a good motto by the Government with a long term vision.

Also Check – RBI Notification for Specimen of Sukanya Samriddhi Account Passbook and account opening Form

Image courtesy of David Castillo Dominici at FreeDigitalPhotos.net

(Republished with further updated on 19.04.2016)

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238 responses to “Sukanya Samriddhi Account: Tax & Other benefits”

  1. Ratish says:

    Now online transfer option is available for a Sukanya account in SBI

  2. MANOJ says:

    SSA account has been opened in daughter name and investing 1.5 Lakh per financial year. I am an NRI and i have some income in india and so i want to mention that 1.5 to avoid tax. Is it possible that ?

    MANOJ

  3. robin says:

    is huF eligible for sukanaya 80c Deduction

  4. Loveleen says:

    Can both parents open two different accounts for their single daughter in Sukanya samriddhi yojna

  5. R VENKATESWARLU says:

    Ssa account is in the names of my wife and chaild.is I am eligible for tax exemption u/ s 80 c
    Please advice

  6. Interceptor says:

    Congratulations, may the almighty bless little parries

  7. Vishnu Kumar says:

    i opened the SSY account, but guardian name on the account is of my wife, who is dependent on me. can i get the tax benefit for this?

  8. Aniket Joshi says:

    What is the meaning “Can operate the account till girl became 10 ot 18 ” ? Does it mean by Deposit too ..?? I guess anyone can deposit till 15 years right ? and Anyways till 18-21 year no one can withdrawl (except premature ). So “Girl can operate after 10 years” is something confusing

  9. SK says:

    You will get Rs 48912 after 21 years if you deposit Rs 1000 every year. This is valid only if current interest rate of 8.6%(FY 2016-2017) continues. But the Probability of interest rate to remain at 8.6% is lower. So you can expect Rs 48912 or lower amount as maturity.

  10. Pramod says:

    Can Both Father and Mother contribute to SSY account and both get TAX benefits? If Yes, What documents should be provided for Tax Benefits.

  11. PADAMCHAND says:

    can i invest in both sss & ppf and what is the tax exemption limit
    Is invest is totaly free for minor girls

  12. T.M.Prabhakar says:

    Does the Banks those are mentioned Open the SSY Accounts now ?

  13. Rohan DC says:

    What is the interest rate for sss for FY 2016-17?

  14. Suchandra Deb Roy says:

    I have opened a Sukanya Samridhi account for my daughter in Post Office. My HR refused to accept Sukanya Samridhi investments for tax saving stating that Post Office savings are not eligible for exemption. Is it correct that Sukanaya Samridhi investments in Post Offfice are not eligible for tax exemption? If so, can I transfer to bank?

  15. Vishal Patil says:

    Can i invest in both SSY (1.5L) and PPF (1.5L) and avail returns, i am aware that for Tax saving only (1.5L) can be claimed.

  16. Prasanta Chatterjee says:

    Can anyone tell me that which documents the bank will provide after opening account under Sukanya Samriddhi Scheme or after deposit amount under this scheme?

  17. Narendrababu says:

    How to get the incometax provisional certificate for this account

  18. pls call me +919988172777,,,Z. hussain says:

    pls me +919988172777 ,,,Z. hussain

  19. Dhanpat Jain says:

    Can my wife and me deposit the amount and can we both claim it benefit every year? Or does this scheme allow only one parent / guardian to deposit the amount year on year

  20. Pramod says:

    I have 2 daughters age 19 & 15.5yrs.Presently they are studying.My service also discontinued from private company.I want to know that how my daughter will get benefit from this scheme.

  21. Gopi says:

    Hi,
    The account was opened by wife and now i would like to get transfered to my name, that is i will pay the terms instead of my wife. What is the procedure. Please explain.

    Thanks
    Gopi

  22. varsha says:

    i am 26 year old girl, could i get benefited with this scheme??
    because my father need money to marry me.

  23. Preetha says:

    After opening the account in the post office can i transfer it to my bank a/c? I paid 3-4 deposits so far. Is there any chance of transferrring to bank a/c now?

  24. Ankit Jain says:

    My question is that in sukanya samrudhi yojana if I invest rs 1000 in a year for

    14 year.

    After completion of 21 year how much I can get.

  25. Amit says:

    Hi,if account holders name(my daughter) changes at the time of maturity Means now she is 1yr and her name in birth cirtificate is “x” and same is continued in her sukanya account but in school admission we changes her name to “y” and now y is used everywhere. Then will there be any problem at time of maturity.

  26. Vishal says:

    My daughter is American citizen. Me & my wife are Indians. Can we open an account for our minor daughter?

  27. ramesh says:

    Please let me know if i am having ppf a/c inthename of my minor daughter even if i can open sukanya ac inher name or not?

  28. umakant says:

    My question is that in sukanya samrudhi yojana if I invest rs 1000 in a year for

    14 year.

    After completion of 21 year how much I can get.

  29. PARTHA SARATHI SINGHA says:

    ”GOOD NEWS”, ”GOOD NEWS”, ”GOOD NEWS”. FRIENDS,I AM THE VERY FIRST LUCKY PERSON WHO ABLE TO OPEN THE ”SUKANYA SAMRIDDHI ACCOUNT” IN THE NAME OF MY TWIN DAUGHTERS ”PRIYASA AND TRIYASA” ON 3RD JUNE 2015 AT THE ”STATE BANK OF INDIA”,CHANCHAL BRANCH,IFSC-SBIN0002037,MALDA,WEST BENGAL.FEEL FREE TO CALL ME AT ANY TIME. WITH LOVE AND CARE…PARTHA,MOBILE-09734191372. THANKS TO MR ANUP KR. ROY,THE BM, ANIL KR. AND THE WHOLE STAFFS OF CHANCHAL SBI AND ABOVE ALL TO MR. MODI THE HON’BLE PRIME MINISTER OF INDIA FOR SUCH A WONDERFUL AND EXCELLENT IDEA OF LAUNCHING ”SUKANYA SAMRIDDHI YOJANA”.

  30. Lilu Ram says:

    Hi till now you can open this account only with Post Office near by you.

    Bank didn’t get any direction from GOVT.

    your daughter age below 10 year. locking period for this is 18 & 21 year.

  31. sarojini biswal says:

    My question is that in sukanya samrudhi yojana if I invest rs 1000 in a month for 14 year.
    After completion of 21 year how much I can get.

  32. Indu says:

    I have a daughter her DOB 6/6/2003 may i know is this account is eligible for her.

  33. rajuchauhan says:

    Meri beti 6 saal Ki hai Kitana paisa jam a ka regeneration to Kitana Milega Kitana saal

  34. Abhishek Kansal says:

    I have a daughter of 5 Years. I am planning to invest 1.5 lakh per year in this scheme. Please advice if monthly deposit is benificial or total amount one time yearly is benificial?

  35. Bindu Mahesh says:

    a good thinking by Modiji govt

    but,

    this a/c is not available in SBI yet.
    u have any info about when the sbi started to open the a/c

    banks are more flexible than pos.

    Regards

    Bindu MAhesh

  36. raj says:

    I went to open this account for my baby. Born in Malaysia. They said we can’t open it for NRI . is it true? The lady in post office responding to customers where harshly when they ask doubt’s. They are not willing to respond to customers but still they need accounts from public.

  37. raj says:

    Hi
    I went to open this account for my baby. Born in Malaysia. They said we can’t open it for NRI . is it true? The lady in post office responding to customers where harshly when they ask doubt’s. They are not willing to respond to customers but still they need accounts from public.

  38. AJAY says:

    meri gudiya 7 years ki hai main 1000 rs har mahina deposit karta hoon total 168000deposit toh mujhe kitna cash milega maturity pura hone par

  39. shilpa says:

    Very nice Scheme for girl child Growth & All the best

  40. JATIN says:

    Can i invest in my PPF Rs 1,50,000 as well as in Sukanya Samridhi Scheme for my daughter Rs 1,50,000 in one financial year?
    I know that under 80C only 1,50,000 is the maximum benefit that can be claimed for tax benefit.
    Pl. clarify.

  41. madhuri says:

    I heard that sukanya samridhi account returns is taxable ? if so there will be huge loss

  42. madhuri says:

    I heard that sukanya suvidha account returns taxable? if so there is no much benefit out of it

  43. Piyush Garg says:

    In this scheme if girl deny to withdraw the amount and if guardian need the amount.then there is option to withdraw the amount by the parents or stop the withdraw by girl.

  44. Ajai Kumar says:

    Is there is anybody open this SSY account in any of the Public sector bank?

  45. Prasanta Nanda says:

    Sir,

    Could you please suggest Can I show both PPF & sukanya in tax declaration.
    I have 100000 + in PPF account in a year & want 100000 deposit in Sukanya.
    Can I show both in Tax benefit.

    Prasanta Nanda

  46. PANKAJ says:

    ON THE SITE OF POST OFFICE ITS NOT MENTIONED FIX INTEREST WILL BE GIVEN TILL THE MATURITY OF POLICY WHY SO…HIDDEN DETAILS
    SECOND THING AS THE EVERYONE SAYS ITS FOR 14 YEARS ONE HAS TO PAY BUT ITS NOT
    MENTIONED ANYWHERE AFTER 14 YEARS TO PAY ITS NECESSARY OR NOT..
    CLEARED AMOUNT ALSO NOT THERE IF ONE 150000 PER ANNUM
    WHAT WILL BE MATURITY AMOUNT INTEREST CALCULATION IS IN BEGINING OR END OF THE FINANCIAL YEAR WILL BE

  47. neha vikas khare says:

    good scheme for girls thanks mr modi……
    regards neha

  48. Salthi vel.S says:

    Good scheme

  49. JATIN NAGPAL says:

    Can i invest in my PPF Rs 1,50,000 as well as in Sukanya Samridhi Scheme for my daughter Rs 1,50,000 in one financial year?
    I know that under 80C only 1,50,000 is the maximum benefit that can be claimed for tax benefit.
    Pl. clarify.

  50. Chirag says:

    Who will have the withdrawal power? A girl or Guardian ? or its required the authorization from both?

  51. KRISHNA BARIKDAR says:

    Insurance products like Child Plan is far better than this trifling scheme. Only plus point is the 9.1 interest rate on all deposits. It is subordinate to insurance policies on these grounds-1. Protection of life is missing (no death benefit) 2. No bonus or loyalty additions available, 2. Loan against deposits is not entitled, 4. Weaver of premiums in case of desmice is unavailable. 5. Not more than 1.5 lakh in a year can be depoaited, 6. In case of bread-earner(guardian)’s death, no benefit is proposed. 7. No withdrawl is allowed before 18 years of age, after that age only 50% can be withdrawn ( one time only). Even Bank deposits are better option than this…

  52. lalit kumar says:

    hi, this is good step to save girls & their future. 14 years X 12 months X 1000 = 168000/- & maturity value will be after 21 years = 6 lakh as inquired. if withdrawn before 21 years then 50% can be withdrawn only. Can be deposit 1000 to 150000 per year & covered under 80C for tax benefit.

  53. Aashish says:

    Unlike PPF, which provides for computation of interest on monthly basis, Sukanya Samriddhi Scheme only states that the interest will be computed annually. Seems balance as on end of the year will be the base for computing the interest which may result in deposits being made at the fag end of the year

  54. geeta says:

    Sir
    Meri beti 6 sal ki hai hame primium 8 sal tak dena hoga ki 14 sal tak Krpaya batye and bank me from kab aayege please batey

  55. mallikarjun says:

    I want to deposit 3000 monthly after 21 years how much money I will get pl send details to email I’d,my mob no is 9086397701

  56. sarwat absar says:

    Market main isse achhi Scheme hai.to is Scheme ko lene se kya fayda???

  57. Rouf Ahmed says:

    If i deposit Rs.1000/- yearly and after 14 years the amount becomes 14000/-.
    how much shall we receive ultimately by completing of 21 years? please advise.

  58. dipendra singh says:

    Sir
    Meri beti 6 sal ki hai hame primium 8 sal tak dena hoga ki 14 sal tak
    Kpaya koe batao

  59. ben says:

    I have deposited amount in sukanya account via post office… Is der provision to track my current amount and any option do payment on-line ?

  60. Anil says:

    Don’t know which one is good
    SSY?
    LIC(PLAN 830)?
    PPF?

    Confused. Pls help..

  61. Bunty says:

    Very nice scheme for chid girls

  62. akrishna says:

    sir,

    my daughter date of birth is 02-01-2006, is she eligible for this scheme?, if I deposit 60,000 per year how much maturity money we will get in this scheme, pl. let us know

  63. S. Mondal says:

    My question is

    If i need to withdrawn of money after 14 years what should I do. What is the procedure ? What is the condition ?

  64. Narinder Singh says:

    Good scheme by govt. for girl child Tax rebate under section 80c

  65. Chandrakant Mishra says:

    The Sukanya Samriddhi Account has become more lucrative. The Government has announced the interest rate of 9.2% for the FY 2015-16.

  66. ALOK KUMAR says:

    I AM CONFUSED FOR THIS SSA SCHEME

  67. Nitin says:

    Dear All,

    Plz dont Get Confused…. this scheme clearly states that till the Age of Daughter gets 21 years it will get Matured… It means if any parents wants to start this scheme directly after birth of their Daughter then they will get benefits as mentioned on the chart means.. till the age of 14 Years from the Birth with payment of 1000 pm total premium deposited id Rs 168000 & after AGE OF 21 OF DAUGHTER PARENTS / DAUGHTER WILL GET 607000 RS THAT IS APPROX FIG….. If any parent whos daughter is of 4 years & if he wants to open an account then he is eligible to pay premium only for TEN Years “ok”… hop now its clear….. Regards, Ni3.

  68. Raj Tilak says:

    Good scheme but i know that if death of depositer then who will be pay ?

    any insurence cover this sheme

  69. Pandit Raj says:

    Hmm,
    21 years for account maturity or if the child turns 21 ??? Well here is a scenario that does not have clarity . The child is 10yrs old now. So the account will maturing when she is 31 ???????? I think they need to rethink this and set it to be 21 years of the CHILD rather then years.

  70. praveen gupta says:

    1000×12month×14year= 168000 agr jama hoga to matchruti kya milega p.gupta

  71. Gagan Deep Bhargav says:

    Hello,

    My questions:

    1) Can one person act as a guardian of more than 2 accounts?

    2) Can that person avil tax benefits from all SSY accounts?

  72. Shalabh says:

    Can i invest in my PPF Rs 1,50,000 as well as in Sukanya Samridhi Scheme for my daughter Rs 1,50,000 in one financial year?
    I know that under 80C only 1,50,000 is the maximum benefit that can be claimed for tax benefit.
    Pl. clarify.

  73. Azad Singh says:

    I have 2 daughter having DOB 01/10/2008 and 19/09/2013. Can they open this account on their own?

  74. vinod says:

    Tommorow i am going to enquire for this schem, after that i will share all my comments on it.

  75. Vikas Sahu says:

    Good Scheme by the government. This is to promote the Education for the Girl Child which is below par compared to the Education for the Male Child.
    This investment will support the Girl Child during her Wedding and thus will relieve the tension of the parents of accumulating money for the same.
    The best part of the scheme is that one cannot withdraw before the maturity and thus will be utilised specifically for the purpose intended.
    The scheme will give 9.1 compound interest every year, which means,
    If one invest 10000 per year then it becomes 10000 * 14 = 1,40,000 (Premium paying term is 14 years) and the interest will be 1,45,926. So total amount becomes 1,40,000 + 1,45,926 = 2,85,926. After 7 years 15-21, 0 investment, however the interest will be 2,40,123. Thus total amount after the maturity will be 5,26,049 for an annual investment of 10000.

  76. preethy h pillai says:

    necessary instructions were not given to the specified banks till now. so they have no interest in opening this account.

  77. sandeep rathore says:

    Dear sir
    I think this is good scame
    Thanks modi sir & u

  78. anoop beri says:

    Bad scheme, promoting gender bias, should include male children, otherwise should be stopped.

  79. Neeraj says:

    Good Scheme

  80. Raj says:

    I have a question What happens after taking sukanya samriddhi account I pay amount only for 3-4 years?

  81. Kumar Annamalai says:

    My daughter’s DOB is 04-02-2014, Can you open account after 31-3-2015.

  82. vijay says:

    can this account be opened for a indian child born abroad???

  83. Nagaraj says:

    My daughter dob is 16.07.2012 if i opened the account will she get total amount of 21 years if even she got marry before 21 years from date of opening acount

  84. Swamy says:

    Useful information

    We can pay any amount for year and any month with different breakups, maximum is 1,50,000

    • Within Post office they have online transaction, so we can pay amount in any post office not necessary to come to same post office where this was opened

    • Shortly they are working online portal for public as well, don’t know when this will be launched

    • Passbook will be given with entries

    • Documents required – Birth certificate, PP photos of daughter and Father/Mother, Pan card & address proof of Father/Mother

  85. Senthil says:

    If I pay 2000 in a year for 14 years how much I get?
    can any one answer the question?

  86. Bidyut says:

    If I deposit 1000 monthly for (14 Years) then after maturity what amount I will get on her 21 years

  87. Bidyut says:

    last Date of Sukanya Samriddhi Account

  88. SUDARSAN,JAJPUR ROAD says:

    I asked that now my daughters age 10 yrs + deposit up to 14 years =daughters age 24 years + 7 years(no deposit up to next 7 years)=31 years(when 31 age of my daughter deposit matured.Is it correct?

  89. Roshan Patel says:

    Dear Sir,

    How to calculate this skim

    If I deposit 1000 yearly for (14 Years) then after maturity what amount I will get on her 21 years

  90. Gopal says:

    some doubts in meturuity proceses,

  91. Atul Singh says:

    My daughter DOB is 25/10/2006
    HOW MUCH WOULD WE GET IN TOTAL AFTER 21 YEARS???
    IT SAYS: YEARLY DEPOSIT IS MINIMUM RS.1,000/- & MAXIMUM RS.1,50,000/-
    THEN IF WE GO ON MINIMUM YEARLY DEPOSIT OF RS.1000/-, HOW COME MONTHLY DEPOSIT TURNS INTO RS.100/- WHICH LEADS TOTAL OF RS.1,200/- YEARLY! CORRECT ME IF I’M WRONG!
    FOR 14 YEARS OF DEPOSIT, WHICH MEANS 1,200*14 = 16,800/- IS BEING DEPOSITED BY THE GUARDIAN. AND FROM 15 YEARS TO 21 YEARS NO MORE DEPOSIT.
    NOW QUESTION IS AFTER DEPOSITING OF (MINIMUM) RS.16,800/- FOR 14 YEARS, HOW MUCH THE GUARDIAN/DAUGHTER WOULD RECEIVE ULTIMATELY AFTER/BY COMPLETING OF 21 YEARS? IF I LEAVE THE INTEREST EVEN!
    – See more at: http://taxguru.in/income-tax/sukanya-samriddhi-account-tax-benefits.html#sthash.nO0AauTi.dpuf

  92. vikesh says:

    if my child birth is november 2004 how many years i have to pay and when i can collect the money

  93. Rajaram Arun Misal says:

    tax exumption in sukanya samridhi yojana can it be applicable for the financial year of 2014-2015?

  94. Sanjib Nath says:

    If I deposit 1000 yearly then after maturity what amount I will get on her 21 yr

  95. bala says:

    tax exumption in sukanya samridhi yojana can it be applicable for the financial year of 2014-2015?

  96. anupama sharma says:

    Sukanya Samriddhi Account/Yojna – Interest & Maturity amount calculation – Scenario 2 – Yearly Deposit

    Example 2 – Mr Madhavan wants to open the Sukanya Samridhi Savings account in the name of his girl’s child (5 years old) in April 2015. He wants to contribute Rs 1,20,000 every year for 14 years. He also wants to keep this account active till 21 years from the account opening date (or till Child’s age of 25 years). He wants to know, what could be the total approximate interest amount and total maturity amount that he would accumulate under SSA?

    Interest Calculation Sukanya Samriddhi Account – Yearly contribution

  97. Ranjeeta says:

    @Tejas which LIC PLAN you are talking about????

  98. ankur gupta says:

    Kya yeh bank me opening ho Santa agar hai to kaun so bank me hoga please tell

  99. shamiulla says:

    It’s an awesome Scheeme

  100. Ajay says:

    If some one have not birth certificate of his Girl child
    Then what is the Procedure

  101. Subal Jana says:

    Good scheam

  102. Tejas says:

    I had compared the same with LIC. And I found LIC better than the sukanya samriddhi.
    Here is the comparison. If I have missed somewhere let me know.

    Sukanya Samrudhi Yojana

    Its a Post Office New Scheme
    Sukanya Samrudhi yojana…
    9.1% Rate of Interest Compounded…

    For example Pay Rs 12000 for 14yrs & Get Rs 6lac on 21st yr…

    ======================
    LIC has better option than this….
    ======================

    1. Payment Term
    —————————

    In post you have to pay Rs.12000 for 14 years

    In LIC you have to pay Rs.22500 but for 9 years only

    2. Insurance
    —————————

    In case of death of Father

    In post family still have to pay 12000 per year till 14th year

    In LIC no need to pay and family gets 6 lacs immediately in case of accidental death (in case of natural death 3 lacs plus bonus)

    Hence concept of insurance is more important.

    3. TAX FREE RETURNS
    —————————

    In LIC
    premium – 22500
    Need to pay – 9yrs
    Total premium – 2lac

    On 21st year
    get Rs 6,32,000 totally TAX FREE.

    In Post
    premium – 12000
    Need to pay – 14 yrs
    Total premium – 1.80 lac

    On 21st year
    get Rs 6,07,000 TAXABLE

    4. Gauranteed Calculation
    —————————

    In post 9.01% gauranteed for 2014-15 next year onwards it may change

    In post calculation is based on bonus and bonus history of LIC is gaurateed

  103. Tax baniya says:

    whether a suknya samridihhi account can be opened in the name of adopted girl child?

  104. Zubin Pathan says:

    If anybody wants to know anything regarding this scheme can contact me on 9979378636 or mail me at zubinpathan786@gmail.com.

  105. N P Singh chandigarh says:

    I have two grand daughters.My son is in private job and daughter-in-law on contact service. I am retired officer from BSNL and want to deposit in sukanya samridhi accounts. Can I deposit amount in this account and take benefit under 80C of incometax

    np singh

  106. vinod chaudhari says:

    Go the near by post office n then u will get whole information about that scheme n related form also

  107. A P TALPADE says:

    Clarification required:

    If, during the financial year, a maximum deposit of Rs 1,50,000/ is made in the daughter’s account and in subsequent years no deposit is made, is this allowed?

    Or, like PPF account, the parent needs to keep the account alive by making deposits of minimum amount every year upto 21 years.

    Please clarify

  108. Nisha Sahaay says:

    The government is doing a great job now a day’s especially for urban area and common peoples. They announced so many schemes and plans in last 4 – 5 months like Jan Dhan Yojana, Swacchha Bharat Abhiyaan and the most important Sukanya Samriddhi Account under the mission of Beti Bachao Beto Padhao. the best thing is the tax benefit. The government start providing tax deduction for this account under section 80C of the income tax act 1961.

  109. Sonu says:

    [Repeat] ONE QUESTION HASN’T BEEN ANSWERED YET SO FAR!

    HOW MUCH WOULD WE GET IN TOTAL AFTER 21 YEARS???

    IT SAYS: YEARLY DEPOSIT IS MINIMUM RS.1,000/- & MAXIMUM RS.1,50,000/-
    THEN IF WE GO ON MINIMUM YEARLY DEPOSIT OF RS.1000/-, HOW COME MONTHLY DEPOSIT TURNS INTO RS.100/- WHICH LEADS TOTAL OF RS.1,200/- YEARLY! CORRECT ME IF I’M WRONG!

    FOR 14 YEARS OF DEPOSIT, WHICH MEANS 1,200*14 = 16,800/- IS BEING DEPOSITED BY THE GUARDIAN. AND FROM 15 YEARS TO 21 YEARS NO MORE DEPOSIT.
    NOW QUESTION IS AFTER DEPOSITING OF (MINIMUM) RS.16,800/- FOR 14 YEARS, HOW MUCH THE GUARDIAN/DAUGHTER WOULD RECEIVE ULTIMATELY AFTER/BY COMPLETING OF 21 YEARS? IF I LEAVE THE INTEREST EVEN!

    THANKS IN ADVANCE FOR WHOEVER ANSWERS… :]

  110. prakash says:

    sir’
    I have a girl child DOB 03/08/2014 and I want to know if I pay a minimum of 12000 rs per annum for 14 years then what will be the maturity value after 21 years

  111. tax baniya says:

    its very well drafted. please confirm can it applicable in financial year 2014-15 and provided from which banks.

  112. Sampath kumar p says:

    Can the U S born chid staing at India can open SSA A/C in india

  113. Ravinder Kumar says:

    What is the future of the scheme in case of death of parents/leagal guardian. Who will pay the future instalments and whats the benefits given to the girl child instantly or on maturity.

    RAvinder kumar

  114. Ravinder Kumar says:

    What is the future of the schme in case of death of parents/girl child, who will pay the future instalments and whats the benefit may be given to the girl child instantly or on maturity.

    Ravinder Kumar

  115. rajesh Singh reddy says:

    ONE QUESTION HASN’T BEEN ANSWERED YET SO FAR!
    HOW MUCH WOULD WE GET IN TOTAL AFTER 21 YEARS???
    IT SAYS: YEARLY DEPOSIT IS MINIMUM RS.1,000/- & MAXIMUM RS.1,50,000/-
    THEN IF WE GO ON MINIMUM YEARLY DEPOSIT OF RS.1000/-, HOW COME MONTHLY DEPOSIT TURNS INTO RS.100/- WHICH LEADS TOTAL OF RS.1,200/- YEARLY! CORRECT ME IF I’M WRONG!
    FOR 14 YEARS OF DEPOSIT, WHICH MEANS 1,200*14 = 16,800/- IS BEING DEPOSITED BY THE GUARDIAN. AND FROM 15 YEARS TO 21 YEARS NO MORE DEPOSIT.
    NOW QUESTION IS AFTER DEPOSITING OF (MINIMUM) RS.16,800/- FOR 14 YEARS, HOW MUCH THE GUARDIAN/DAUGHTER WOULD RECEIVE ULTIMATELY AFTER/BY COMPLETING OF 21 YEARS? IF I LEAVE THE INTEREST EVEN!
    THANKS IN ADVANCE FOR WHOEVER ANSWERS…

  116. ruchi says:

    Really sad to see all d queries.till date no one has Answered even a single question. See what iz d condition of our country.n u all educated people keep on posting ur queries.cant u see there is no answer till date…stop asking .better go to ur bearby bank n ask all d questions.

    Sapns

  117. vijay vishwakarma says:

    IS THE SCHEME OPERATIONAL IN BANKS.

  118. Nagaraju Goud Gurram says:

    sukanya samriddhi account is good scheme of chid and poor Girls
    I have 2 daughter having DOB 10/06/2009 and 02/08/2012. Can they open this account on their own

  119. Nagaraju Goud Gurram says:

    GOOD scheme

  120. ATUL GUPTA says:

    sir
    i just want to know that if i am investing 10000/= p.a. then after 14 year maturiy value is 285927. it is correct.
    but after 21 year my maturity value is 626736/= and as per your table it is 5.26lacs
    that mean you are allowing interst @ 9.10% for 14 year but after it is lower rate after 14 years
    kindly clarify

  121. MALIK Anwar says:

    sir what about maturity in the above statement it is written the the maturity period is 21 years which is started from date of opening of the SSA account whereas I heard that it is counted on the age of the girl child please tell me about that

  122. sushil says:

    Maturity of the account
    Is it only mature on the completion of 21 years from opening or
    the child attain the age 21 years i.e.
    period of deposit or maturity time in case the child is 10 years old.

  123. MJD'Souza says:

    To-day I went to open SSA Account, nearby post office. Shown DOB certificate which was issued by Embassey of India, from Riyadh Saudi Arabia. child born at Riyadh. The Post Master rejected to accept the birth certificate, saying that there is no clarification came from Govt? to accept it. Or you have provide the school certificate saying that child is admitted for schooling and birth date. This means that, we do not have believe on our own documents. The lot of NRI families, give the birth to child at india and live in aboard for long period, if they provide the birth certificate they will accept it and open the SSA account for them. they can deposit the maximum amount & obtain the benefits of interest rate.
    Even if we are citizen of India, have to prove them again and again we are Indian and staying in India. for each and every thing. Why do not Govt to make on identity Record and it should be recorded each and every entry of the citizen in record and it will identity card should be used for all purposes.

  124. Sharvan says:

    If I exhaust my 80C limit by investing in other products and make a deposit in Sukanya Samriddhi, will such a deposit be allowed and will it earn interest?

  125. Vinoth Kumar K V says:

    can i open Sukanya Samriddhi account for my US born child. I am staying in India now and she is 3 years old

  126. Vinoth Kumar K V says:

    Sukanya Samriddhi account for my US born child. I am staying in India now and she is 3 years old

  127. Anshudeep says:

    There are many doubts about the eligibility by age. Only for this year there is a grace period of one year so a girl child born between Dec 2nd, 2003 and Dec1st, 2004 can get an acct opened.

  128. bijaya dhal says:

    it is good plan of pm

  129. test says:

    ONE QUESTION HASN’T BEEN ANSWERED YET SO FAR!

    HOW MUCH WOULD WE GET IN TOTAL AFTER 21 YEARS???

    IT SAYS: YEARLY DEPOSIT IS MINIMUM RS.1,000/- & MAXIMUM RS.1,50,000/-
    THEN IF WE GO ON MINIMUM YEARLY DEPOSIT OF RS.1000/-, HOW COME MONTHLY DEPOSIT TURNS INTO RS.100/- WHICH LEADS TOTAL OF RS.1,200/- YEARLY! CORRECT ME IF I’M WRONG!

    FOR 14 YEARS OF DEPOSIT, WHICH MEANS 1,200*14 = 16,800/- IS BEING DEPOSITED BY THE GUARDIAN. AND FROM 15 YEARS TO 21 YEARS NO MORE DEPOSIT.
    NOW QUESTION IS AFTER DEPOSITING OF (MINIMUM) RS.16,800/- FOR 14 YEARS, HOW MUCH THE GUARDIAN/DAUGHTER WOULD RECEIVE ULTIMATELY AFTER/BY COMPLETING OF 21 YEARS? IF I LEAVE THE INTEREST EVEN!

    THANKS IN ADVANCE FOR WHOEVER ANSWERS…

  130. surender kr. says:

    sir plz tell me that my daughter’s date of birth is 02/12/2004.can i open SSA account her name.If i deposit @5000per month.what amount will get after maturity.

  131. G.V.R.K.Kishore says:

    It is best for girl child.
    But my opinion is that if the interest rate be fixed on opening of an account. It will be clarity on maturity amount to the parents. Ex. Now the rate of interest is 9.1% if it falls into 6 to 7% there will be no use for child. Because our economy is not stable..

  132. suresh says:

    Dear Sir’

    our daughter DOB 11.09.2003 please advice eligible my daughter account open

    Thanks
    Suresh Marathe
    9766992947

  133. sandip says:

    pls sir
    a,c open is yoar benk and post yoau choise . me sir yoar benk is eee is not yojana

  134. sri says:

    sir, my sister daughter born on 25/5/2010 and her mother died.she is with us so pls reply whether we open a/c in that child name.

  135. SANTOSH KUMAR says:

    sir, i have one daughter whose dob is 15 apr 2004. kindly tell me can i have account on her name.

  136. VISHAL says:

    My daughter ‘ s date of birth is 20-04-2007. Can I get the best opportunities for the purpose of investment?

  137. sushma gadekar says:

    i have one qeurry , that i have to deposit money in every month or onces a year in particular bank.(Bank of Maharashtra )
    min Rs.100/- , Rs. 1,000/-.

  138. THARUN says:

    KINDLY TAKE LIC PLAN 830 LIMITED ENDOWMENT PLAN AS VERY GOOD PLAN WITH TERM 21 YRS AND PREMIUM PAYING TERM ONLY 9 YRS AND GET BENFIT OF RISK COVER NORMAL DEATH 375000 AND ACCIDENTAL RISK COVER 675000 WITH DAB AS ED AND PD AND GET MATURITY TAX FREE RS 632500 UNDER SEC OF 10 10 D OF INCOME TAX ACT – AND THEN COMPARE WITH LIC OF INDIA PLAN 830 AND SUKANYA SAMARADDHI YOJNA THE TAKE THE PLAN BECOZ U/S 194 D TDS DEDUCT IF PAN CARD NOT HAVING 20% AND HAVING PAN CARD 2%

  139. THARUN says:

    KINDLY TAKE PLAN 830 LIMITED ENDOWMENT PLAN AS VERY GOOD PLAN WITH TERM 21 YRS AND PREMIUM PAYING TERM ONLY 9 YRS AND GET BENFIT OF RISK COVER NORMAL DEATH 375000 AND ACCIDENTAL RISK COVER 675000 WITH DAB AS ED AND PD AND GET MATURITY TAX FREE RS 632500 UNDER SEC OF 10 10 D OF INCOME TAX ACT

  140. Jayanta Kundu says:

    I have one daughter having DOB 02.03.2005. Can I open this account on her name?

    • PRAFUL D MEHTA says:

      In this scheme maximum age of the girl is 10 years but this year one extra year has been allowed and so maximum age this year is 11 years and so you can open account for your daughter

  141. Jayanta Kundu says:

    I have one daughter having DOB 02.03.2005. Can she open this account on her name?

  142. Jayanta Kundu says:

    I have one daughter having DOB 02.03.2015. Can she open this account on her own ?

  143. Manish says:

    I want to know that the money deposited inthis A/c. should be totally white and Accounted or even black money till the extent of Rs.150000/= p.a. can be invested every year and on maturity the girl child will get the huge amount in white and that also tax free. Can anyone clarify on this….

  144. mohit mittal says:

    Is interest on maturiry taxable

  145. mohit mittal says:

    Is interest on ssa taxable???

  146. SK Nair says:

    I am surprised to read comments from various persons here, first understand that this is not a investment of interest or earning purpose, this is mainly for the purpose of poorest of the poor persons and their girl child, Modi with a forsee, it has started as in coming years situations may become very difficult for the low income people. By investing very small amount such persone can find expenses to meet their girls child marriage and if necessary for higher education, for you epole boasting ;here, seek another option available in big lots. This is not the one for you people. Let the poors take advantatage.

  147. sekaran says:

    WHAT ABOUT THE GIRL CHILDREN WHOSE PARENTS HAVE GONE ABROAD FOR EMPLOYMENT TO PLACES IN THE MIDDLE EAST AND UK AND THE US

  148. sekaran says:

    What about the children whose parents have gone abroad for employment ?

  149. sadashiv Gaikwad says:

    To overcome TDS provision, it is better than FD

  150. DEEKSHIT.P.S.R.K says:

    VERY GOOD SCHEME FOR CHILDS

  151. Karthik says:

    In post office say that elgible age from 5-10 years .is it correct

  152. Karthik says:

    In Post office said Age eligible 5-10 years of ages.is it correct.

  153. A S Mohanty says:

    The scheme should have been included in Banks with transfer of money from savigs account to this scheme account This will help unnecessary visits to banks in each month.

  154. Sagar Gadhave says:

    my girls DOB is 10/06/2006. Can i open the account of my Girls Name in above scheme ?

  155. Sachendra says:

    Can father and mother both deposit into the account and claim deduction separately. Hope this is a good scheme like PPF and no other government will disturb the scheme.

  156. VUM Rao says:

    Any scheme for the girl child is a good scheme. Girl child is to be treated on par with boy child. All Girl children should be given special treatment by parents, schools, institutions, colleges, offices and in public places. It does not mean that girls are needing special concessions. They were all along supressed from time immemorial. Hence they need special previlages like extending of ervation including in Assemblies and in Parliament.

    Without limiting it to years, it can be extended till life long as it is a contribution by Parents or guardians.

    It should be given special concession and should not be combined within the total value of exemption of 1.5 lakhs

  157. Vinod Patil says:

    Still Indian govt not authorised any nationalised Bank to open Sukanya Samriddhi Account .

  158. nimeychm says:

    Not a good scheme, very far far login period & not sure about the interest, as if the next govt., comes hope so they will be coming up with other scheme or an altered one of this version, finally our modi sarkar want the citizen money to be make use in this scheme

  159. Meenu says:

    Scheme is good but there is no financial support by government jaise govt NPS mein provide karti hai like Rs 1000 for lower income people. It will be appreciated very much if Govt. take any initiative for this and it is possible to achieve for Govt.

  160. CA.Sooraj.B says:

    Sir,

    Regarding interest it is mentioned that it will be credited till 14 years from the opening of the account – does that mean that there will be no interest for the remaining period (7 years or less as applicable)?

  161. swamy says:

    Dear sir,
    I would like to know clarity before opening account, means that if i pay 1000/- per year up to 14 years after 21 yrs how much I’l get money….

  162. Purendar.T says:

    Dear sir,

    I would like to know clarity before opening account, means that if i pay 1000/- per year up to 14 years after 21 yrs how much I’l get money….

  163. Purendar.T says:

    Dear sir,

    I would like know clarity before opening account, means that if i pay 1000/- per year
    up to 14 years after 21 yrs how much I’l get money….

  164. rajat says:

    Is the exemption under 80C applicable for F.Y 2014-15 also..

  165. nitesh says:

    Sir,
    my daughter DOB is 25 Feb 2004.Am I eligible for this scheme as it is written one year before 2004 can opt to this scheme.

  166. shivnarayan says:

    Its good scheme but when we r asking this scheme at banks saying they don’t have circular an it. Kindly help

  167. Raman Deep says:

    I am interested to take this policy but my daughter is Aug’03 born…not able to take it….what can we do now

  168. Hiremath S M says:

    In case of death of earning parent’s death in sukanya samradhi yojna is there a clause of any monetery benefit to girl or any type of insurance.

  169. Nitesh Kumar says:

    Interest and principal amount is both exempted from income tax ……………….Hurry

  170. Madhu says:

    It would have been a great scheme with Insurance for the girl child(s) for unfortunate dismissal of income earning parent(s). And guarantee monthly payment anywhere equal to the yearly payment (i.e. 1.5 L max per year) until girls attain the age of 18.

    I know if will be highly burden on the Govt. but not impossible to achieve.
    And easy of doing (allowing online transfer would have been great).

    Raise India.

  171. virendra singh says:

    Majhe pls ye bataye 120000per yearly deposit karne ke 21year bad kitna amount melega.

  172. ami Pandey says:

    In case of death of earning parent’s death in sukanya samradhi yojna is there a clause of any monetery benefit to girl or any type of insurance.

  173. CA PADAMKUMAR POLADIA says:

    With presentation of Budget 2015 many drawback have removed.The interest is Tax Free.Withdrawal will not be Taxed.We Request all parents whose girl is born upto 01/12/2004 can take benefit and save Tax us 80c.Good scheme Finance & Prime Minister ji

  174. shailendra says:

    suknya samridhi yojna me agar meri death ho gayi to is a/c ka kya hoga, aur isme kisi tarah ka bima cover hai ya nahi please clear kare.

  175. sridhar says:

    With 150000 max per annum for 14 yrs… U get maturity of rs. 72,00,000 after 21 yrs

  176. Dinesh chandra says:

    Me janana chahta hu ki 12000/annuam me 21 year baad maturity kya hogi plz cleare to me this scheme

  177. rajesh yadav says:

    Sukanya samrudhi yojana under beti bachao beti padhao scheme is very good job done by PM Narendra modi. It encourages parents to give higher education to their daughter. ” Chalo BETI PADHAYE, desh ko aur uchai pe le jaye “

  178. Mayur Morbia says:

    In SSA if death of depositor (parents), then who will pay ?
    any insurance cover for this scheme ?

  179. pravin patil says:

    ye yojana middal class logo ke liye bahut achha he. me apko nivedan karta hu ki ye yojana lifetime chalaye. Q ki hamare bharat desh mei bahut sare garib log hai. junko beti hue hai..beti ki shadi paise na hone ke karn apni beti ko bech dete hai. isliye har nari ke sath ye bartav nai hona chaiye…BUTI BACHAO BETI PATHAO
    jay hind jay maharastra

  180. himanshu sevak says:

    Sir ,

    I want to open an account for my daughter but post office person told me this type of no scheme available .

    Pls provide any mail I’d or contact details for complaint against post office department.

    I already contact deputy director general (FS) but no one pick up call.

  181. shital poria chauhan says:

    very good schme for every girl child…

  182. Nazir Shaikh says:

    Sir good sceme but no nationalized Banks are yet ready to open the A/C .I think maturity period is bit too lengthy I think it should be till 18/years.

  183. E Benathung Yanthan says:

    the scheme is very good especially for girls and poor… but i am not so clear with interest calculated above…. monthly and yearly mode of payments.. in monthly payment interest calculated is 5.069 and yearly payment mode is as mentioned that is 9.10%.. Thus it really does not really help the poor since yearly payment is not possible for low income people.i am not very satisfied on the part of interest rate ??? but the scheme is good as we can deposit min 1000 yearly say Rs.100 monthly which is an opportunity for lower sections of the society.

  184. Shridhar says:

    Very good initiative.People should think of security rather only tax.

  185. Sanjay Kumar says:

    Not a good scheme. this comes under 80 C where limit is already exhausted by PF. Either Govt, should increase the limit of 80C otherwise it is waste.

  186. K YOGESH says:

    Sir
    it very good scheme but sir problem is that most of the people from middle class or lower of benifited. but they have no time to deposite money in post or bank. so GOI likely to use RD agents for helping peoples & GOI . so i request u to do the needful
    thanx

  187. vinee says:

    Please clarify the calculation

  188. Srinivas says:

    Good Scheme … no claritiy incase of risk to the parent / guardian. Can someone help me on this.

  189. jay shah AHMEDABAD says:

    Thanx 2 announce such scheme i will manage good future of my KOMAL KALI future.

    can i open account in BHARTIYA MAHILA BANK ?

  190. Bala says:

    Baby’s birthday is 23/07/2005, Can eligible for in SSY account opening?

  191. Anil Kishore says:

    The GOI has not yet declared the names of authorized branches of any Bank. This shows that either they are immature or they do it for publicity and then they start taking steps. They may have simply declared that all branches of Nationalized Banks who are authorized for accepting PPF may open a/cs under this scheme.Perhaps such things may come to their minds.

  192. anita says:

    my daughter is born 25/05/2005, i just want to know that she is a legible for this sukanya yojna.

    • PRAFUL D MEHTA says:

      A GIRL UP TO THE AGE OF 10 YEARS IS ELIGIBLE TO OPEN THE ACCOUNT

      YOUR DAUGHTER WILL COMPLETE 10 YEARS ON 24/05/2015 AND SO

      YOU HAVE TO OPEN ACCOUNT BEFORE THAT DATE

      • CA Sandeep Kanoi says:

        Account can be opened up to age of 10 years only from the date of birth. For initial operations of Scheme, one year grace has been given. With the grace, Girl child who is born between 2.12.2003 &1.12.2004 can open account up to1.12.2015.

  193. Dinanath Sahani says:

    Good Good Scheme Thanks P.M

  194. ajay daga says:

    When we see the Table for Interest Calculation it is coming 4.93% ie for Rs.12000/- Int shown is Rs.592 which should be Rs.1092/- for 9.1% Please receitify

  195. Suresh says:

    for the very useful info..
    Hi Thanks for the info..
    Just wanted to know SSA is giving 9.1% rate of interest (which is not fixed for future) and interest in taxable.
    PPF is giving 8.7% and interest in not taxable.
    which one is best and you’ll suggest.

    and also can you please share branch of the bank authorized to open SSA not getting details anywhere.

    Thanks,
    Suresh.

  196. Santosh Jadhav says:

    One thing i dont understand incase if, parent or guardian will not be more and account holder cant pay monthly Sip what will be the procedure or any insurance cover provided by government.

  197. NitinB says:

    Hello,
    yours is the only blog having a Hindi graphic displaying the name of scheme. I thought of sharing the details for our maid servant but unfortunately there is NOT a single brochure explaining the scheme.

    Could you please prepare a brochure in Hindi (and other languages) for the benefit of society. You could also include taxguru branding on it somewhere.

    Thank you.

  198. Nikhil says:

    The motive behind this scheme is not interest income. People in India do not educate girls and feel that their education and marriage expenses are too high. This scheme is a tool to convey that if you plan well in advance, the money will come in right amount in your hand.
    PPF is not doubt better. But comparing this social scheme with PPF is not advisable. Many ppl in GPO and Banks not aware of this scheme. Wait till budget, definitely maturity amount will be announced as Tax Free.

  199. Raghavendra Kumble says:

    Sukanya Samriddhi Yojana is a good scheme in terms of following:
    • It can be opened in the name of a girl child below 10 years
    • Present Interest Rate is 9.10%
    • Amount deposited is eligible for tax deduction u/s 80c
    But, there are many limitations of this Scheme:
    • Interest earned on this scheme is taxable
    • Interest rate 9.10% is not fixed, it can come down also
    • It’s for very long term, 21 years
    Compare between PPF & Sukanya Samriddhi scheme, there are many drawbacks in Sukanya Samriddhi scheme.
    • PPF interest is not taxable
    • PPF is for 15 years term

  200. Sandeep Antre says:

    As per notification, amount in is deposited up to 14 year and intrest at specified rate is also earn up to 14 years. Post maturity intrest i.e. after 21 years is also same as specified intrest. But there is no any information about intrest from 15 year to 21 years. Kindly guide about it.

  201. sachin says:

    No use.
    confused scheme.

  202. Gaurav Arora says:

    Not worth to go for it, no benefit at all, in terms of Taxability, Liquidity and Flexibility

  203. n mahendran says:

    As a Government of India servant (DOP), it is a very good scheme announced by our Hon. Prime Minister. But I feel interest should also be under tax exemption , as it’s maturity period is too long.

    Thanks

  204. Pradeep kumar Jain says:

    what are the provisions if one does not withdraw money for education or marriage? Can it be withdrawn at any point of time after the event as per requirement. Whether interest will accrue if not withdrawn after 21 years of account opening.

  205. Prashant Raut says:

    can you pl provide the name of banks to which GOVT GR is issued & operating this scheme so that one can contact & get info & open the account. most of the banks are not aware of this.

    Thanks,

    Prashant Raut

  206. Rajasekhar says:

    Better wait for 2-3 months to get the clear picture about this program and even if anybody wants esquire in post office or in banks, they are helpless as this program still in implementation stage. So give them some time to get into.

  207. PRABHAKAR GORLE says:

    I asked in many banks and even from post office they told they don’t know about this account so where should I go
    Pl say where shall I go . I Mean Govt GR are not received to all NSB banks & Post Offices Pan India. Pls Notify me about that Notification No. G.S.R.863(E) Dated 02.12.2014 Finance Ministry Of India.
    Thanks,
    Regards,
    Mr Prabhakar Gorle

  208. gopal tulsyan,VARANASI says:

    MY OPENION ABOUT THIS PLAN NOT BETTER THEN P P F

  209. RN PANDEY says:

    Really good

  210. PRAFUL D MEHTA says:

    ON MARRAIGE OF A CHILD GIRL FOR CLOSING OF SUKANYA SAMURUDDHI ACCOUNT AFFIDEVIT TO BE GIVEN FOR CONFIRMING THAT GIRL IS ABOVE 18 YEARS.
    BUT AT THE TIME OF OPENING BIRTH CERTIFICATE IS REQUIRED AND WHEN BIRTH CERTIFICATE IS WITH THE AUTHORITY THEN AUTOMATICALLY AGE OF THE GIRL IS
    PROVED AND SO AFFIDEVIT SHOULD NOT BE ASKED FOR.
    PRAFUL D MEHTA
    MUMBAI

  211. Murali Upreti says:

    Kindly can you provide the list of Banks authorised to Open the Said account

  212. Harish T R says:

    am happy to say this its good scheme proposed by our government India but the thing is Interest earned under this scheme is taxable is not good. because its period of maturity is high.

  213. Rajendra Chauhan says:

    Good scheme with 80C benefit and tax free maturity………… a great initiative by Govt., whether any TDS would be deducted on Interest income as the same is taxable, or would be treat on par with Saving fund account. Need to be clarified. List of Bank not yet notified, March is approaching, should be expedite the same.

  214. Parmod Sharma says:

    It is a good start but interest amount should be tax free and at Maturity the Total amount should be followed by A gift from Government to Girl child on occasion of her marriage. Jai Hind.

  215. Supriya Bhandari says:

    Very elaborate article!
    Query : As per news article in Times of India Interest on this account will be tax free. Request you to please clarify.

  216. Ganesh says:

    I asked in many banks and even from post office they told they don’t know about this account so where should I go
    Pl say where shall I go

  217. Muneer says:

    overall good to taxpayer

  218. Ranjith says:

    Very Nice Scheme

  219. Namdeo Narhari konale says:

    i don’t like this scheme due to too drawbacks are there are?

  220. MR. RAJAT KANTI GHOSH says:

    Govt should provide fixed interest i.e. 9 or more then 9% . In addition to interest earned should be tax exemted . If not possible then provide 50% discount/deduction on higher education expenditure for first girl child. It will be better to eredicate dowary system through the revised law. Otherwise open another PPF account to either girl child’s name or her mother’s name.

  221. Arun Kumar Agarwal says:

    Very good scheme

  222. Ram Kumar Rohilla says:

    I have 2 daughter having DOB 19/09/2000 and 04/08/2004. Can they open this account on their own?

  223. sowmya says:

    Good Scheme

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