Kasar account

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Amandeep Singh

Amandeep Singh (Querist)
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13 April 2019 Dear Experts

Please suggest what is Kasar Account.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 April 2019 It's monthly discount offered to chit holders in making the monthly payment.
There is bid loss to the chit fund. In every auction, the chit would be bid and the bidder-member will auction the chit for his desired amount. The difference between the chit value and the bid amount is known as "Kasar" that is Dividend. Out of this Kasar, the chit company would take its commission which is normally 5% of the Chit value and the balance would be distributed to the Members of the particular chit as a deduction on their subsequent chit dues for the month. Until then the amount will be credited to chit kasar payable account.

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Amandeep Singh

Amandeep Singh (Querist)
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13 April 2019 Thank you very much Sir,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 April 2019 Welcome...............
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