Sukanya Samriddhi Yojana 2021 – Sukanya Samriddhi Yojana was created by the central government to secure the financial stability of daughters in the future. As part of the Beti Bachao Beti Padhao programme, our country’s Prime Minister, Shri Narendra Modi, introduced the Sukanya Samriddhi Yojana on January 22, 2015. The Sukanya Samriddhi Yojana creates a savings account for the daughters of the country. The scheme provides support to girls up to the age of 10 throughout their schooling and marriage. In a short amount of time, this post office-run project has gathered a lot of popularity.
Twin sisters will be treated the same, yet they will receive distinct benefits under this arrangement. You can use this method to save money for your daughter’s wedding and schooling. You can only apply for registration in this scheme if your daughter is under the age of ten.
Sukanya Samriddhi Yojana’s Advantages
Your daughter will be eligible for a number of benefits under Sukanya Samriddhi Yojana 2021 , including the following:-
- You can open an account for your kid under this arrangement until she turns ten years old.
- You can save money for your girls’ future using this technique.
- This scheme allows you to open an account at any bank or post office in India.
- The account can only be formed for the parents’ two daughters.
- Only daughters under the age of ten are eligible for benefits under this scheme.
- You can deposit a maximum of Rs 1.5 lakh per year under this scheme.
- This system allows all parents to put money aside for their daughters’ marriage and education.
- It’s a win-win situation for both the parents and the daughter.
- You can put money into this account until your daughter reaches the age of 14.
Sukanya Samriddhi Yojana 2021 Terms and Conditions
Sukanya Samriddhi Yojana 2021 – Some Rules You must plan some rules for this scheme, which are as follows.
Sukanya Samriddhi Yojana 2021 Money Deposit Rules
- You can get your account totalled for Rs.250/- and make a minimum annual deposit of Rs.250/-.
- You would be in default if you are unable to deposit Rs.250/- every year in the say for any reason.
- You can reactivate the account by depositing Rs.250 and paying a penalty of Rs.50.
- This scheme allows you to invest a maximum of Rs.1,50,000/- in the account.
- To open an account, you must first complete Form-1, which requires your daughter’s birth certificate, parent’s PAN card, and Aadhar card number.
- You can invest in this account for 15 years whenever you start one under this scheme.
The Procedure for Opening an Account in Sukanya Samriddhi Yojana 2021
- At the time of account opening, your daughter must be under the age of ten.
- Parents can only open one account for their daughter under this programme; they cannot open several accounts for their daughters.
- Only the family’s two daughters are eligible to open an account.
- You can have many accounts if you have twin daughters.
- You will manage the account until your daughter reaches the age of eighteen.
Tax Benefits, Maturity, and Interest Rates Rules
- After opening the account, there will be a maturity / maturity of 21 years or 18 years at the time of marriage.
- You can register a bank or post office account for your daughter under this arrangement, and you can deposit the interest amount in it at the end of the year.
- From January through March 2021, the interest rate on this scheme is 7.6%.
- According to the law of 80C, there are no investment taxes in this programme.
- In addition, both the maturity and interest amounts are tax-free.
- At the end of the fiscal year, you can withdraw up to 50% of the remaining amount for your daughter’s education.
- You can withdraw your daughter from this programme once she reaches the age of 18 or has completed the tenth grade.
- You can take money out of your account all at once or in instalments.
Accounts that are closed prematurely are subject to certain rules
- After 5 years, you can close the account under this arrangement.
- This account can be cancelled if the account holder develops a serious disease.
- If the account holder dies, the account is closed under this arrangement.
Documents Required and Eligibility for Sukanya Samriddhi Yojana 2021
- Photograph of a young girl
- Her parents’/legal guardians’ photos
- Parents’ Aadhar Cards were issued by the government.
- Girl child’s birth certificate
- Proof of Residence
- Parent or legal guardian’s PAN card, Ration card, and Driver’s License
Eligibility to get benefits of this scheme
There few qualifying requirements to participate in this scheme:
- You should have a girl child,
- The girl kid must be under the age of ten.
When your daughter turns 18, you can withdraw half of the funds from this Sukanya Samriddhi Account for her education or marriage. Parents, on the other hand, can withdraw the entire amount from this Sukanya Samriddhi account after the account turns 21.
What is the Sukanya Samriddhi Yojana 2021 and how can I apply?
Following the birth of a girl child before the age of ten years, Sukanya Samriddhi Yojana accounts can be opened with a minimum deposit of Rs 250. In the current financial year, the Sukanya Samriddhi Yojana allows you to deposit up to Rs 1.5 lakh. The steps to apply for Sukanya Samriddhi Yojana 2021 are as follows:
Step 1 – You must receive a form from your local post office to open a Sukanya Samriddhi Yojana account.
Step 2 –This is where you will write your name and the name of your child.
Step 3 –Complete the rest of the required fields as well.
Step 4 –Fill out the form and include photocopies of your ID, proof of address, Aadhar card, and
your daughter’s name, birth certificate, and other documents.
Step 5 –If the information is believed to be correct, you will be able to use this method.
Step 6 –You continue to make monthly deposits into the account as you see fit.
FAQs for Sukanya Samridhi Yojana 2021
How is the sum deposited under the Sukanya Samriddhi Yojana 2021 taxed?
There is an exemption limit of Rs.1,50,000 from taxation. Any sum in excess of this will not be eligible for income tax relief under section 80C of the Internal Revenue Code.
What happens if the recipient, a girl kid, passes away unexpectedly?
In the event that a girl child dies, the Sukanya Samriddhi Account is closed and the proceeds are handed to the girl child’s guardian or father.
Who is eligible for a Sukanya Samriddhi Account?
Only parents or legal guardians of one or more girl children are eligible to apply for the Sukanya Samriddhi Scheme in their daughter’s name.
What is the Sukanya Samriddhi Scheme’s minimum annual deposit amount?
The needed minimum deposit amount every year is Rs.250.
What is the maximum amount that can be contributed each year under the Sukanya Samriddhi Scheme?
The highest amount that can be deposited under the Sukanya Samriddhi Scheme in a given year is Rs.1.5 lakh.
Is there a deadline for applying for the Sukanya Samriddhi Yojana 2021?
No. There is no deadline for applying for the programme. For tax reasons, however, conventional tax filing dates will apply to this scheme as well.