banner_ad

Accounting for Mutual Fund SIP for my children

This query is : Resolved 
Profile Image

Profile Image

(Querist)
03 May 2011 Dear All,

I have two minor children.

I had done Mutual Fund SIP of Rs.10,000/- per month in the name of my children.

Mutual fund SIP amount is debited form my savings account & not from childrens savings account.

Can you please tell me hoe to account for this SIP in my Books of accounts.

Thanks to all in advance for your early positive response and guidance.
Profile Image

Jitendra

Profile Image

Jitendra (Querist)
04 May 2011 Please reply to my query
Profile Image

Jitendra

Profile Image

Jitendra (Querist)
18 May 2011 Please reply to my query
Profile Image

U S Sharma

Profile Image

U S Sharma (Expert)
18 May 2011 minor bank accounts are also the property of natural guardian. it would go in your drawings,

if you prepare your childrens balance sheet then such amounts would go in their assets
Profile Image

Jitendra

Profile Image

Jitendra (Querist)
19 May 2011 Hi,

Thanks for the reply.

That means Mutual Fund SIP Investment will be debited in my Capital account as Drawings.

What will be accounting entry for this in childrens balance sheet.

Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
07 July 2023 "Sorry, I am not a featured member."

For featured members contact....

https://www.caclubindia.com/catalogue/featured.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details