International Women’s Day (IWD) is observed every year on 8 March to celebrate the cultural, political, and socio-economic achievements of all women. It is a momentous day for the country, which achieved a major milestone last year, with India’s sex ratio improving to 1020 per 1000 males in 2021. A country that is still tackling female feticide in some areas, is seeing a female majority for the first time, which is indeed a great achievement towards a great, sustainable future.
However, apart from female feticide, there are still some issues women of our country face. It is observed that only a very small percentage of women are employed in India, this is also one of the serious issues that need to be seriously considered.
That’s why the theme of Women’s Day 2022 is ‘Gender Equality Today for a Sustainable Tomorrow’. At SAG Infotech, a taxation software provider, we would like to appreciate every girl’s journey to becoming a responsible woman, and what rights, income tax benefits, and other benefits are available in Indian laws for women.
Benefits Available to the Girl Child in India
Sukanya Samriddhi Yojana is a saving scheme backed by the Government of India, especially for daughters. This scheme encourages parents to create a fund for their daughter’s future education and expenses like marriage. Investment or saving in this scheme is eligible for deduction under section 80C and interest and withdrawals are also made tax-free. However, there are some eligibility criteria parents have to hate care of:
If the Child is the Account Holder-
- This account can be opened only by a girl child
- The maximum age should be 10 years
For the Parents –
- Only the biological parents or the legal guardian of the girl child are allowed to open an account in this saving scheme on behalf of the child
- A parent or legal guardian can open a maximum of two accounts for their child. In the case of twins or triplets, a maximum of three accounts can be opened
Rights & Tax Benefits Available to Women on or After Their Marriage
The Supreme Court of India kept it very clear that all Hindu women have equivalent rights over their father’s property from 1956, When was the succession law first codified. Daughters now share the same rights as sons in Hindu ancestral property. A woman also has rights equal to her children on the property of her husband.
Hindu Law mentions the term “Stridhan”, which is for everything a woman receives as a Gift during her lifetime. It can be any movable, immovable property gift, etc. received by a woman before marriage, at the time of marriage, during her birth, and when she is widowed. As per law, a woman is the absolute owner of all such property and belonging (Stridhan) and her relatives including her husband have no right to all of them.
Stridhan also mentions the gold holding limit for married and unmarried women. According to it, married women can hold 500 grams of gold, and unmarried women can hold gold up to 250 grams. The mentioned limit cannot be ceased even during income tax raids.
Women also have the right to become the Karta of the HUF if the male member is absent. Additionally, women have the privilege of being the sole entrepreneur in a one-person company.
Women also have access to avail of special health insurance schemes dedicated for women to get the maximum benefits.
Financial Benefits Available to Women
The government has launched diverse incentives to encourage women’s entrepreneurship.
- Stand Up India: The scheme allows women entrepreneurs to apply for bank loans between Rs. 10 lakh and Rs. 1 crore for first-time business.
- Mudra Yojana: This scheme gives loans up to Rs. 10 lakh for women.
- Cent Kalyani Scheme: The scheme provides financial stability for women who manage small to medium enterprises situated in the agriculture sector or retail business. Loan up to Rs. 100 lakhs are sanctioned without the need for a guarantee. These loans are offered by the Central Bank of India.
- Benefits Under the Housing for All Program: Under this, the property for which credit subsidy is provided under the Pradhan Mantri Awas Yojana (PMAY) scheme needs to be in the woman’s name, or the woman should be a co-owner.
Flat 50% Off On Every Software By SAG Infotech
Just like every year, SAG Infotech is ready to make this day memorable for every woman. The company is giving a 50% discount offer on International women’s day 2022 on every listed SAG Software. Under this offer, any registered firm or business registered in the name of women or even women taxpayers are eligible to get “Listed SAG Software” at a flat 50% discount. This offer is valid from 7th March to 12th March 2022 only.
Under this offer all the of the top-notch software of company like Genius package (Genius Software for Income Tax + TDS + Balance Sheet), along with Gen GST Software, Gen Payroll Software, Gen XBRL Software, Gen Comp Law Software, CA Portal development service are available at half price. So hurry up, check the terms and conditions and grab this opportunity.
Despite the odds, the women of our country dominate in all fields, whether online or offline, they are leading the way for a great India. However, their path is not as easy as usual, so women’s empowerment is essential. With this view, all these schemes, benefits, and offers have been introduced with the sole objective of making them socially, economically, mentally safe, and independent.
