269ss & 269t for chit fund company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 October 2012
Sir/Madam
Does 269SS & 269T apply to Chit Fund Company which receives chit amount from its subscribers.(Whether or not the subscriber bidded the chit amount)
Please clarify
Does 269SS & 269T apply to Chit Fund Company which receives chit amount from its subscribers.(Whether or not the subscriber bidded the chit amount)
Please clarify
CA C.JANANI
(Expert)
08 October 2012
Yes 269SS AND 269 T have been excluded only for the specified govt companies banks,post offices etc.
There is no exclusion provided by law.
Also, considering the nature of amount collected by chits and payments made by them will amount to deposits hence they will be covered.
There is no exclusion provided by law.
Also, considering the nature of amount collected by chits and payments made by them will amount to deposits hence they will be covered.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- Capital gains in IT returns
- ETDS return q4 25-26
- Import Order Cancelled.
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
