Kasar account
This query is : Resolved
Amandeep Singh
(Querist)
13 April 2019
Dear Experts
Please suggest what is Kasar Account.
Please suggest what is Kasar Account.
CA R SEETHARAMAN
(Expert)
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.
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
(Querist)
13 April 2019
Thank you very much Sir,
CA R SEETHARAMAN
(Expert)
13 April 2019
Welcome...............
.
.
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