Income Tax Exemption for Sukanya Samriddhi Account under Section 80 C of Income Tax Act up to Rs.1,50,000/-
Government of India
Ministry of Communications & IT
Department of Posts
Dak Bhawan, Sansad Marg,
The Heads of Circles/Regions
Addl. Director General, APS, New Delhi.
Subject:- Provisions of Income Tax Rebate in the deposits under “Sukanya Samriddhi Accounts” regarding.
Sir / Madam,
- This office has been receiving references regarding provisions of Income Tax rebate in the deposits under Sukanya Samriddhi Accounts. Following provisions are now available in the Income Tax Act 1961 amended up todate:-
(a) Sukanya Samriddhi Account has been specified under clause (viii) of Sub Section (2) of Section 80(C) of Income Tax Act 1961 and deposits under these accounts enjoy benefit of this Income Tax Section up to the overall maximum limit of Rs. One Lakh Fifty Thousand (1,50,000).
(b) By Finance Act, 2015, a new clause (11A) has been inserted under Section 10 of Income Tax Act 1961 under which any amount withdrawn from Sukanya Samriddhi Account will not be included in the total income of a previous year of a person for the purpose of calculation of Income Tax.
(c) By Finance Act 2015, a new clause (ba) has been inserted under clause (viii) of sub-section 4 of Section 80C of Income Tax Act 1961 under which a Legal Guardian can claim Income Tax benefit for the amount deposited by him of his/her girl child under the Sukanya Samriddhi Account.
- This may be brought to the notice of all the Post Offices for information, guidance and wide publicity for opening of Sukanya Samriddhi Accounts. These amendments are available in the web site of Income Tax Department.
- This issues with the approval of Competent Authority.
Kawal Jit Singh
Assistant Director (SB-II)