P.M.Shree Narendra Modi with a
vision to provide for education and marriage expenses of a girl child, has announced
a scheme i.e. “Sukanya Samriddhi Yojna’.
Under this scheme an account shall be allowed to get open with
Banks or post office and amount deposited such accounts will be eligible for
deduction U/S 80C of the Income Tax Act,1961
As it is new announcement and financial year is near to close,
many of the taxpayers are rushing to invest under various schemes eligible for
deduction to save tax.
I have just tried to sum up FAQs for clarification on the scheme
based on Notification and rules notified so far.
1.
What is
object of the Scheme?
An campaign “Beti bachao Beti Padhao” has been started by the
Government and for the purpose to motivate the public towards the goal, Sukanya
samriddhi Account scheme is launched to provide for Girl child education and
her marriage expenses.
2.
Who can
participate in the scheme or who can open the account under this scheme?
An
individual (male or Female) who is the guardian of a minor girl child.
3. Who can be ‘Guardian’
under this Scheme?
In
relation to a minor girl Child Guardian means:-
(i)
either father or mother; and
(ii)
where neither parent is alive or is incapable of acting, a person entitled
under the law for the time being in force to have the care of the property of
the minor.
4.
Where can account be opened?
Account can be opened in any of the branch of Banks
or post office as notified by the Government.
5.
How many accounts can be opened?
Only one account for one girl can be opened.
6.
Is there any limit of children under the Scheme?
Yes accounts can be opened for maximum two Girls however in
case of birth of twins (girls) as second birth or three girls in first birth
itself shall be allowed to open accounts for all girls.
But it must be supported by certificate of competent
Authority.
7. When can account be
opened?
The
account may be opened by the natural or legal guardian in the name of a girl
child from the birth of the girl child till she attains the age of ten years
and any girl child, who had attained the age of ten years, one year prior to
the commencement of these rules shall also be eligible for opening of account
under these rules. (Scheme has been commenced from 02.12.2014)
Thus account
for the girl who born on or after 02.12.2004 can be opened under this scheme.
8. Is there any
relaxation of such period under the scheme?
Yes, at the initial stage benefit has been extended to the
girl child who even born between 02.12.2003 to 02.12.2004 provided such account
is opened before 01.12.2015
In next post , I will try summaries the question of procedural part like where account can be opened , how can be opened, what are benefit associated , and what are limitations in the schemes
happy reading and sharing of knowledge and
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