SSY for 2 daughters

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Ankur Aggarwal (Querist)
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13 March 2026 Hello,

I have 2 daughters and want to open SSY for both of them. The yearly deposit limit is 1.5L per child. I have the following doubts:
1. The yearly limit of 1.5L is for both the daughters if only 1 parent is paying for their SSY's ?
2. Suppose, I pay for 1.5L for 1 daughter and similarly for the other, and i am the legal guardian for both, then does this 3L deposit violate the 1.5L yearly limit ?

Thanks in Advance.

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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13 March 2026 The SSY maximum deposit limit of ₹1.5 Lakh applies per child's account, not per parent. You can legally deposit ₹1.5 Lakh into each of your two daughters' accounts (totaling ₹3 Lakh annually) without violating any scheme rules, though your personal tax deduction under Section 80C will still be capped at ₹1.5 Lakh.

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