I'll summarize the key points you've mentioned and provide a checklist of documents required to open an SSY account:
The account can be opened in the name of a girl child until she attains the age of 10 years.
Accounts can be opened in post offices and notified branches of commercial banks.
The interest rate on Sukanya Samriddhi Account is 8% per annum, calculated on a yearly basis and compounded yearly.
The account can be opened with a minimum of Rs 250, and the maximum deposit allowed in a financial year is Rs 1,50,000.
Subsequent deposits can be made in multiples of Rs 50, with no limit on the number of deposits in a month or financial year.
To open an SSY account, you will need the following documents:
1. SSY Account opening form 2. Birth certificate of the girl child 3. Address proof of the guardian or parents of the girl child 4. ID proof of the guardian or parents of the girl child
1. Investments made in Sukanya Samriddhi Account are eligible for tax deductions under Section 80C of the Income Tax Act.
2. A deduction of up to Rs 1.5 lakh annually is allowed on Sukanya Samriddhi Account investments.
3. The interest accrued on the account, which is compounded annually, is exempt from tax under Section 10 of the Income Tax Act.
4. The proceeds received upon maturity/withdrawal are also exempt from income tax.