InvestorQ : What is the tax benefit of subscribing to the Sukanya Samriddhi Yojana (SSY) scheme?
Aswini Chikkodi made post

What is the tax benefit of subscribing to the Sukanya Samriddhi Yojana (SSY) scheme?

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Ayushi Kampani answered.
3 years ago
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The Sukanya Samriddhi Yojana (SSY) is a small-savings scheme backed by the Government of India, exclusively for the Indian girl child. The scheme allows a parent or legal guardian to open an account in the name of a girl child until she becomes 10 years old.

Other than creating a corpus for the girl child to be used when required either for educational or wedding expenses, subscribing to the scheme can also help the parent/guardian gain tax benefits. The Sukanya Samriddhi Yojana (SSY) scheme offers EEE tax benefit. This means the contribution, the interest earned and the maturity proceeds are exempted from tax under Section 80C of the Income Tax Act.

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