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CHIT FUND RECEIVED AMOUNT QUERY

This query is : Resolved 
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(Querist)
02 July 2022 SIR,
It assessee chit fund monthly amount paid rs:50,000/- * 50 instalments total rs:25,00,000/- paid. if amount received rs:23,60,275/- from chit fund company.
Query:
Assessee differance amount show procedure in accounting books and treated in it returns.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
02 July 2022 Difference amount charge it to p and l as chit fund discount.
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