Accounting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 August 2014
Hello Sir/madam,
Now a days Savings a/c have one facility of auto sweep.
i want to know that how it appears in books of a/c of individual...
and what about its interest?
plz ans.
Now a days Savings a/c have one facility of auto sweep.
i want to know that how it appears in books of a/c of individual...
and what about its interest?
plz ans.
06 August 2014
its just a transfer entry of money moving to deposit a/c
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Rupesh Jain
(Expert)
06 August 2014
SB a/c intt under the income from other sources.
Rupesh Jain
(Expert)
06 August 2014
SB a/c intt taxable under the income from other sources.
06 August 2014
he is not asking about taxation part..........
Nikhil Kaushik
(Expert)
06 August 2014
ideally, you should make a corresponding entry by credit the saving bank a/c (in your books) and debiting the deposit a/c (in your books).
In balance-sheet, given the current nature of both the accounts, both shall be clubbed under "Balance with Banks"
In balance-sheet, given the current nature of both the accounts, both shall be clubbed under "Balance with Banks"
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