In order to provide financial security to the future of daughters, a big change has been made in the popular government’s Sukanya Samriddhi Yojana, which is very important for you to know. In this scheme, which is capable of arranging money for the daughter’s education to marriage, now only parents or legal guardians can operate the daughter’s account. If this does not happen, this account can be closed. Let us know in detail about SSY Scheme Rule Change…
The scheme was launched in 2015
The central government of Narendra Modi (PM Narendra Modi) started the Sukanya Samriddhi Yojana (SSY Scheme) in the year 2015 to take care of the future of daughters. An account can be opened in this government scheme with just Rs 250. The government is also giving a strong interest on this, which is 8.2 percent. This is a long term investment plan, which is popular for making daughters millionaires.
The new change will be implemented from October 1
Talking about the latest rule change made in this scheme, which collects a huge fund for the daughter’s future, it will be especially applicable to such Sukanya accounts which have been opened under the National Small Savings Schemes (NSS). According to the new rule, if a daughter’s SSY account has been opened by a person who is not her legal guardian, then she will now have to transfer this account to the natural parents or legal guardian. In case of not doing so, that account can be closed. According to the report, this change in the scheme will come into effect from October 1, 2024.
This way your daughter will become a millionaire in 21 years
The reason for the SSY scheme being so popular is the interest received on the investment in this scheme. For the January-March 2024 quarter, this scheme is getting a great interest of 8.2 percent. As mentioned, Sukanya Samriddhi Yojana is a long term investment plan, which can make your daughter a millionaire when she turns 21. If we look at its calculation, if you open an SSY account in the name of your daughter at the age of 5 and invest Rs 1.5 lakh annually in it, then when your daughter is 21 years old, more than Rs 69 lakh will have accumulated in her account.
According to the interest received under the scheme, if you deposit Rs 1.5 lakh annually for your daughter in this scheme for 15 years, the total amount invested by you will be Rs 22,50,000. At the same time, the interest on this at the rate of 8.2 percent will be Rs 46,77,578. That means when the daughter turns 21, she will get a total of Rs 69,27,578.
These benefits are included in the scheme including tax exemption
In this scheme, one gets the benefit of tax exemption up to Rs 1.5 lakh under Section 80C of Income Tax. In SSY Scheme, if needed, the facility of withdrawing money before maturity is also given. After the daughter turns 18 years old, early withdrawal can be made from this account for studies. For education also, only 50 percent of the balance deposited in the account can be withdrawn. For this, you will have to provide documents related to daughter’s education as proof. You can also take the money in installments or lump sum, but you will get it only once a year and you can withdraw money in installments for five years.
You can open an account for two daughters
To invest in Sukanya Samriddhi Scheme, it is necessary to be an Indian resident and the parents or legal guardians of the girl child. You can invest in Sukanya Samriddhi Yojana for a girl child up to 10 years of age. You can open an SSY account from the birth of your daughter till she attains the age of 10 years. In this scheme, you can open an account for a maximum of 2 girls. If you have twin daughters, then an SSY account can be opened for three of them.
Source (PTI) (NDTV) (HINDUSTANTIMES)