Sukanya Samriddhi Yojana Big Update: The government’s Sukanya Samriddhi Yojana (SSY) scheme, launched to make daughters self-reliant, is being discussed not only in the country but also in the world. There are lakhs of beneficiaries of this scheme. Gradually, if you deposit less money regularly, you can create a big fund on which you get excellent interest. But one small mistake of yours can take you out of this special benefit.
Sukanya Samriddhi Yojana: For the better future of your daughter, if you have opened an account in the bank under Sukanya Samriddhi Yojana, then you should not miss the very important deadline related to it. If you do not do an important task related to Sukanya Samriddhi Yojana in time, your account will be deactivated. Recently, while praising the Sukanya Samriddhi Yojana in the Parliament, Prime Minister Narendra Modi said that earlier whenever a daughter was born, there was a discussion that how will we bear the expenses, how will we educate her, about her future life? Such discussions used to happen as if there was some kind of burden. Today, when a daughter is born, it is asked, whether Sukanya Samriddhi account is opened or not, this statement of PM Modi in itself indicates the happiness, seriousness and success of this scheme of the government. Till now everything is good but one small mistake of yours can take you out of this special benefit. Let us know the whole thing in details:
Account will be frozen if…
To keep Sukanya Samriddhi account active, it is necessary to maintain minimum balance in it. If you do not maintain the minimum balance by March 31, 2024, the account may be frozen. The government has said that you have time till March 31, 2024 to deposit the minimum amount and this time will run out in a few weeks. After this the account will be deactivated. Therefore, hurry up and as soon as you get a chance, check whether it has the minimum amount or not. If not, then deposit money in this account as soon as possible.
Also know that for reactivating the account of Sukanya Samriddhi Yojana, a fine has to be paid. However, from January 1, the interest on Sukanya Samriddhi Yojana for the fourth quarter of the financial year 2023-24 has increased by 0.20%. Now you will get 8.20% interest annually on investing in this scheme. After so many benefits, you will definitely not want to give up the benefits. Therefore, complete the target of minimum amount as soon as possible.
Also let us tell you that the minimum balance you have to maintain in Kanya Samriddhi Yojana is only Rs 250. An investment of Rs 250 has to be made in any one financial year. Once the account becomes inactive, to activate the account again, you will have to pay a penalty of Rs 50 per financial year. In this you can deposit a maximum of Rs 1.50 lakh.
EEE: i.e. completely tax free scheme
When your daughter turns 18, you can withdraw 50 percent of the total deposited amount which you can use for her further studies. This scheme is completely tax free. That is, exemption is available on this at three different levels i.e. EEE. First discount. Under Section 80C of the Income Tax Act, exemption on annual investment up to Rs 1.50 lakh, second exemption, there is no tax on the returns received on this. Third exemption, the amount received on maturity is also tax free.
