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Chit fund

This query is : Resolved 

03 June 2020 Dear sir / Mam
how to record loss on self chits by a chit fund management company?
kindly explain treatment as par accounting and taxation purpose

05 June 2020 There won't be loss, if the Foreman has subscribed only ONE ticket.

05 June 2020 Formen have more than one chit. such chit are in name of other party but that party is not able to continue that chit so company taken such chit on own name.






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