Can I open both PPF and Sukanya samriddhi account?
You can open both Sukanya Samriddhi Account and PPF account for your minor child..
Is Sukanya samriddhi good?
Being part of government’s small savings schemes, the SSY often gets compared with products such as the PPF (public provident fund). The SSY does give higher returns, of 8.4 per cent, than PPF (7.9 per cent). But ‘higher returns’ alone shouldn’t sway your investment decision.
What is the best time to deposit money in PPF account?
The best time to invest is between the 1st and the 5th of any month, preferably April each year. Interest is calculated for the calendar month on the lowest balance at credit of your account, between the close of the 5th day and the end of the month, and is credited at the end of every year.
Which is best FD or PPF?
Both FDs and PPF offer tax benefits under Section 80C of the Income Tax Act, but PPF offers more benefits. For FDs, after 5 years of lock-in, the amount invested in FDs can be claimed for deduction up to a limit of ₹1.5 lakhs. … On the other hand, PPF falls under Exempt-Exempt-Exempt (EEE) status.
Is Sukanya samriddhi maturity tax free?
The scheme comes with the exempt-exempt-exempt (EEE) status. This means that: Your investments towards Sukanya Samriddhi Yojana are eligible for tax deductions under Section 80C of the Income Tax Act. … You do not have to pay any taxes on maturity or withdrawal.