Chit fund
This query is : Resolved
Quick Summary
chetan singhania
(Querist)
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
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.
chetan singhania
(Querist)
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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