Sukanya samriddhi yojana vs ELSS Mutual funds in Tamil | LOGIC VS EMOTION
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- Опубликовано: 21 окт 2024
- Sukanya samridhi yojana - selvamagal semippu thittam vs ELSS MUTUAL FUNDS
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Opening of account.-(1) The account may be opened by one of the guardian in the name of a girl child, who has not attained the age of ten years as on the date of opening of the account.
(2) Every account holder shall have a single account under this Scheme.
(3) The application in Form-1 for opening an account shall be accompanied by birth certificate of the girl child in whose name the account is to be opened, along with required documents of guardian.
4.Deposits.-(1) The account may be opened with a minimum initial deposit of two hundred and fifty rupees and in multiples of fifty rupees thereafter and subsequent deposits shall be in multiples of fifty rupees subject to the condition that a minimum of two hundred and fifty rupees shall be made as deposit in a financial year in one account.
(2) The total amount deposited in an account shall not exceed one lakh fifty thousand rupees in a financial year:
(3) Deposits may be made in the account till the completion of a period of fifteen years from the date of opening of the account.
(4) An account in which minimum amount as specified in sub-paragraph (1) has not been deposited shall be considered as an account under default:
Provided that an account under default may be regularised any time till completion of a period of fifteen years from the date of opening of account on payment of a penalty of fifty rupees for each year of default along with the minimum annual deposit in respect of the defaulted years.
(5) In case of an account under default, if not regularised within the time specified under sub-paragraph (4), then the whole deposit, including the deposits made prior to the date of default, shall be eligible for interest at the rate applicable to the Scheme till closure of the account.
5. Interest on deposit.-(1)The deposit made in the account between 12th December, 2019 to 31st March, 2020 (both days inclusive) and the balances at the credit of the account shall earn interest at the rate of 8.4 per cent per annum.
6. Operation of account.-(1) The account shall be operated by the guardian till the account holder attains the age of eighteen years. The account shall be operated by the account holder herself after attaining age of eighteen years by submitting necessary documents.
post office sukanya samriddhi yojana details
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8. Withdrawal.-(1) On an application in Form-3, withdrawal of upto a maximum of fifty per cent. of the amount in the account at the end of the financial year preceding the year of application for withdrawal, shall be allowed for the purpose of education of the account holder:
Provided that such withdrawal shall be allowed after the account holder attains the age of eighteen years or has passed tenth standard, whichever is earlier.
(2) The application for withdrawal under sub-paragraph (1) shall be accompanied by documentary proof in the form of a confirmed offer of admission of the account holder in an educational institution or a fee-slip from such institution indicating such financial requirement.
(3) The withdrawal under sub-paragraph (1) may be made in one lump sum or in instalments, not exceeding one per year, for a maximum of five years, subject to the ceiling specified in sub-paragraph (1):
Provided that the amount of withdrawal shall be restricted to the actual requirement on account of fee and other charges required at the time of admission as shown in the offer of admission or the relevant fee-slip issued by the educational institution.
9. Closure on maturity.-(1) The account shall mature on completion of a period of twenty-one years from the date of its opening.
(2) The closure of the account may also be permitted before completion of twenty-one years if the account holder on an application makes a request for such closure for the reason of intended marriage of the account holder on furnishing of a declaration duly signed on non-judicial stamp paper attested by the notary supported with proof of age confirming that the applicant will not be less than eighteen years of age on the date of marriage:
Very informative....
Thank you
But tax free in ssy
10% on 12% returns is 1.2% tax. So post tax returns is 10.8% in mutual funds. Moreover potential for better than 12% is possible. In SSY, 8% is the maximum returns possible.
Still many people not aware about MFś or financial planning...so they want to invest guaranteed returns plan even they know may get low returns because of scare our market agents mafia or cheating brokers guides wrong path.
Thanks for yhe video it really makes awareness for public
I agree to the explanation. But I would advice against putting everything in one basket. U have to learn to diversify. If your goals are long term, invest in the market. But at the same time, invest a small portion for the same goal in a fixed scheme like FD or PPF etc as it would give you some liquidity if in case the markets were performing badly during the time of need. It will give u some leeway to wait for your market investment to get back in shape. Like in my case. I started building my house (long term goal) dec 2019. If I had only my market investment to fall back on. I would have stopped the construction due to the fall in the market in 2020. As I had some backup in the form of FD’s , I continued with the construction and waited for the market to recover. “ DIVERSIFYING YOUR INVESTMENTS WILL HELP YOU IN ANY SITUATION”
Well said Sir. We need to diversify our investments as short term and longterm. Anything you need within 3years should be kept in FD. All other investments should be in equity.
@@velarashuvs1985 well said brother..economic experts telling upcoming years will increase inflation much high moreover 10% it Will hit our savings or wrong investment..so it must be required diversified investment not only stock .
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Awesome comparison for decision making.
Thank you so much
Thank you .. very informative.🙏👍👍
Most welcome
world economic experts telling upcoming years will increase inflation much high moreover 10% it Will hit our savings or investment..so it must be required diversified smart investment like stock either gold or somthing
Normal inflation maybe lessthan 7%. But new lifestyle inflation is 10% plus
Why only elss is recommended..I think a good blue chip or a flexi cap fund will give better returns..of course tax saving is not possible
Tax exemption in 80c only available in ELSS funds
Agree that in longer term MF is better than SSY. But while making the compariaon charts taxation also should be considered. SSY returns are completely tax free and MF returns are subjected to LTCG tax.
Ltcg is only 10%. Upto 1Lakh, profit is tax free. In SSY returns are 7.4% only. Even if you get 10% in mf, tax will be minimal only. And post tax returns of MF will be higher than tax free returns of SSY
@@nivasexcites Thanks for the reply. Completely agree to the point, even with taxation MF will be better than SSY. Just said that, if tax part also added in the compariaon charts, comparisons would have been more accurate
Hi, Thanks for your informative videos.
I'm an NRI but my wife and daughter are Indian residences, is it possible to take SSY scheme for my daughter?
Sir, interest rate is only 7.4%. So better avoid and invest in mutual funds. You can get 12% plus returns.
@@nivasexcites Thanks for the information. I do have MF, wanted to keep a portion in Secured return schemes. That's y exploring SSY. Need your advise if it's possible to open?
What if, after I open SSY, in few years my daughter will migrate along with me, will the investment affect?
In Equity, anything above 5years is safe only.
Stop scamming for god's sake. No one can guarantee that the mentioned mutual funds will perform the same way as it did in the past 20 years given we can wait for 20 years down the line. This is false advertising or brainwashing people with lies. I would take a 30 lakh assured return in 10 years than a probable 90 lakh risky return in 10 years.
You have to come out of FEAR EMOTION, pls look at historical data.. If you Think Logically, you will accept my thoughts.. I'm creating awareness for investors.. No Brainwash.. Certainity is safe but it will not beat inflation..
Risk illama rusk sapida mudiyadhu
illa sir we refer history to predict future .....as there were few big falls and rise of nifty but u can never destroy a strong business from a developing country like India ....unless there economical crash due to un expected calamities....if there is one it will affect everything not only stock market...so what he says is not scam....its the truth ...Financial knowledge is not imparted in schools that the reason we all suffer.... ( I too lack knowledge .........now only learning )...happy investing