under sukanya samridhi a/c scheme, whether interest earned on deposits is taxable.
if taxable ,whether deduction u/s sec 80 TTA available.
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post office savings bank a/c
Replies (8)
SSY offers the highest tax-free return with sovereign guarantee and comes with the exempt-exempt-exempt (EEE) status. The annual deposit (contributions) qualifies for Section 80C benefit and the maturity benefits are non-taxable.
what about the interest on deposits. are they exempt.
maturity benefits are also non-taxable
so contribution ,interest, maturity amount all are not taxable
yes exempt
The interest that accrues against this account which gets compounded annually is also exempt from tax
In order to encourage investments in SSA, SSA has also been provided with tax benefits as follows:
I. Investments made in the SSY scheme are eligible for deduction under Section 80C subject to a maximum cap of Rs 1.5 lakhs
II. The interest that accrues against this account which gets compounded annually is also exempt from tax
III. The proceeds received upon maturity/withdrawal are also exempt from income tax
thank you .
welcome 
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