All about auto swipp account
This query is : Resolved
Mahavir Shah
(Querist)
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?
then it will come under Bank Balance or Loans
& Advances or Short Term Investment or under any other head?
CA. Sunil Kumar
(Expert)
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
This is a saving bank account. Hence cover under Bank Balance
Mahavir Shah
(Querist)
18 July 2012
But in statement wording used is "FD matured"
28 July 2023
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