On the occasion of Children's Day, every parent wants to give a gift to his child, which can make the life of his child. If you want to get maximum returns on minimum investment, many savings schemes are being run by the Government of India, where it will be beneficial for you to invest money. Most of these schemes are also available in post offices where you can avail of a small savings scheme. Under the small savings scheme, the government also released a scheme for daughters. The scheme name is Sukanya Samriddhi which still going on, and the government does not levy any tax on the available returns.
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The scheme will have to invest a maximum of Rs 1.50 lakh per annum for 15 years in the name of the daughter. You will be able to withdraw money when the daughter is 18 and 21 years old. This amount will be beneficial in the daughter's studies or marriage. Let me inform you that how will you get Rs. 74 lakhs. If your daughter is up to 10 years of age, you can open an account under the Sukanya Samriddhi Yojana. Tax exemption is also available under section 80C of the Income Tax Act on investment.
Under the Sukanya Samriddhi Yojana, you can open the same account in the name of a girl. In homes where there are two daughters or twins, parents can open more than three accounts. You can withdraw 50 percent of the amount deposited in the account when the daughter is 18 years old. You will not have to pay any tax on this withdrawal also. On the occasion of the daughter's wedding, you can also remove the remaining amount from the account and close it.
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You can open the Account of Sukanya Samriddhi Yojana in any post office or bank in the country. For this, you have to go to the post office or the bank and fill the form. After filling the form, the money has to be deposited with the help of cash, draft or check. The account will then open, and you will also get the passbook of this account. Then, whenever you deposit money in the account, you must get an entry into the passbook so that you know how much money you have deposited.
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