dear sir I have 2 daughters. I have opened 2 sukanya samridhi accounts one for each, for my daughters. Can I deposite 150000 in each account i.e. 300000 in 2 accounts on a financial year. thanks regards
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This discussion clarifies the deposit limits for Sukanya Samriddhi accounts. You can indeed deposit up to Rs 1.5 lakh per financial year into each of your two daughters' accounts, totalling Rs 3 lakh. However, the tax deduction under Section 80C is capped at Rs 1.5 lakh per individual. To maximise tax benefits, consider having your spouse also contribute to one of the accounts.
Yes, you can deposit 1,50,000/- in each of your daughter's account but you can get deduction up to Rs.1,50,000/- only under 80C. So, it's better to deposit other 1,50,000/- by your spouse to get total deducted of 3,00,000/- ( i.e 1,50,000/- by each you and your spouse)
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