Sukanya samridhi accout



What will be accounting entry for Sukanya Samridhi account opened in books of accounts of parent who is contributing. Although scheme is under EEE but whether it needs to be showed in books of accounts or not. 

Also what if both father and mother are contributing then exemption will be available to both and shown separately in books of accounts of parents.

 
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PROPRIETOR - P M RAJA AND CO (TAX CONSULTANTS - AUDITORS)

I think Interest is EEE.
But, Deposit amount from your hand it's under taxable...
 
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Regarding your query as to disclosure in books- Yes it is absolutely required to be disclosed.
 
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If both the parents are contributing then disclose the same in each of the parents books to the extent of their contribution.
 
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Both parents can claim deduction for their contribution subject to maximum of Rs. 150000 pa
 
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