Sukanya samruddhi
Vinaykumar Kurugodu (34 Points)
16 May 2018and under which section withdrawal from such account is exempted
please help in this regard
Vinaykumar Kurugodu (34 Points)
16 May 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178001 Points)
Replied 16 May 2018
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).
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178001 Points)
Replied 16 May 2018
No
Only final withdrawal amount..... as exempt.......
Sorabh
(Engineer)
(22 Points)
Replied 17 October 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178001 Points)
Replied 17 October 2018
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.