While the Sukanya Samriddhi scheme
(Girl Child Savings Scheme) was earlier
declared as being eligible under Section 80C deduction (up to Rs. 1.5 lac), the
budget 2015-16 also proposes to make the interest income from the scheme exempt
from tax.
This is effective the current financial year of 2014-2015..
As an alternative long-term option to recurring deposits (RDs). However, do
not confuse this with far higher yielding options such as equity funds &
balanced funds offer. Their superior returns means that you may still have to
keep that as a core of your child’s long-term portfolio and at best supplement
your debt part with products such as Sukanya Samriddhi. This is better to PPF
and PF on interst yielding
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