All about auto swipp account

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Mahavir Shah (Querist)
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12 July 2012 if there is closing balance in auto swipp a/c
then it will come under Bank Balance or Loans
& Advances or Short Term Investment or under any other head?

CA. Sunil Kumar

CA. Sunil Kumar (Expert)
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17 July 2012 Auto sweep facility combines the benefit of savings bank account and fixed deposit account. It is normal case where most of the people have huge amount in the savings bank account for the long time which earns meagerly 4% p.a. The intention or benefit of this facility is to attain the high degree of liquidity in your savings bank account with maximum returns

This is a saving bank account. Hence cover under Bank Balance

Mahavir Shah

Mahavir Shah (Querist)
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18 July 2012 But in statement wording used is "FD matured"

Dhirajlal Rambhia

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

For featured members contact....

https://www.caclubindia.com/catalogue/featured.asp

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