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SUKANYA SAMRIDDHI SCHEME for Tax Saving



If you have a daughter below 10, the Sukanya Samriddhi Yojana (SSY) is a better alternative to the PPF. The SSY offers a higher interest rate of 8.5% and enjoys the same tax benefits as the PPF.


But there are certain drawbacks, such as restrictions on withdrawals and a longer lock-in period. Like the PPF, the interest rate of the scheme might be cut in the future as interest rates come down. The government bond yield to which the scheme is linked is now hovering around 6.4%. Analysts believe the rates will eventually have to be aligned with the bond yields as per the formula suggested by the Gopinath panel.


Even so, the SSY is the best debt instrument for saving for your daughter's future requirements. Accounts can be opened at any post office or designated branches of PSU banks and select private banks with a minimum investment of `1,000. Every year, you must invest at least `1,000 in the account. There is also an investment limit of `1.5 lakh in a financial year.


You can open accounts for up to two girls, but the combined limit cannot exceed `1.5 lakh. The account matures when the girl turns 21, though up to 50% of the corpus can be withdrawn after she is 18.







Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 10 Tax Saver Mutual Funds for 2017 - 2018

Best 10 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. ICICI Prudential Long Term Equity Fund

5. Birla Sun Life Tax Relief 96

6. Franklin India TaxShield 

7. Reliance Tax Saver (ELSS) Fund

8. BNP Paribas Long Term Equity Fund

9. Axis Tax Saver Fund

10. Birla Sun Life Tax Plan



Invest in Best Performing 2017 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms


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