Kasar account

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Amandeep Singh

Amandeep Singh (Querist)
Follow

13 April 2019 Dear Experts

Please suggest what is Kasar Account.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

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.

Message likes : 1 times

Amandeep Singh

Amandeep Singh (Querist)
Follow

13 April 2019 Thank you very much Sir,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

13 April 2019 Welcome...............
.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now