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Minor generationg income.

This query is : Resolved 
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Querist : Anonymous

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Querist : Anonymous (Querist)
23 April 2012 1)how can minor genearte ITS OWN INCOME?
2)If bank account operated with his mother and 10000 amt deposited into bank for opening account,then following is the entry is passed in the books of the minor.


Bank A/c Dr.
To His mother A/c


here i want clearification that his mother account will standing on the loan (Liability side).

query:-
how this loan account of his mother accountb is to be nullified.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
28 April 2012 Make the re-payment or show the gift to the minor from mother
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