Is amount Received from Chit Fund taxable?
Are there any exemption limit for Chit fund amount Received
2 Replies
ayusmita
(Tax consultant)
(5890 Points)
Replied 04 December 2020
The dividend income earned per month is neither tax deductible nor taxable.the overall income is taxable as income from other sources
the overall loss can be claimed as business loss
here the difference between the money invested and the money he got from it is considered as income or loss
the overall loss can be claimed as business loss
here the difference between the money invested and the money he got from it is considered as income or loss
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