Sukanya samruddhi

Investments made in the SSY scheme are eligible for deduction under Section 80C subject to a maximum cap of Rs 1.5 lakhs

The interest that accrues against this account which gets compounded annually is also exempt from tax

The proceeds received upon maturity/withdrawal are also exempt from income tax u/s. 10(11A).

should we have to enter interest accrued in ITR

No

Only final withdrawal amount..... as exempt.......

thank you sir

Most Welcome....

Hello Mr Dhirajlal Rambhia ! SSY account for my daughter is in my wife's name.I was abroad while it was opened.Wife is working and she has investments above 1 lac in other tax saving instruments than SSY.I have now returned from abroad and my income from my deposits are taxable and I want to invest and claim 80c for same account.Just back from bank and they told that changes in passbook or ssy account is not allowed from mother to father .I will transfer 1.5 lac from my bank account.Being a father ,how can I produce a document for claiming 80c rebate of 1 lac.I don't have any other tax saving instrument so wanted to utilise this SSY. When the passbook has my daughter and wife's name (operating member) How can I get the 80c claim(which document).please reply . it will help.Thanks sir

Sorry to say that 'Only one person contributing to Sukanya Samriddhi Account can claim tax exemptions under the scheme.  That means either of the parents or legal guardian can claim tax benefits against Sukanya Samriddhi Account contributions.'

As an alternative open her PPF account and contribute for 80C benefits.