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#Chit Fund

Chit Funds under Indian Law are regulated savings and investment schemes governed by the Chit Funds Act, 1982. This Act outlines the legal framework for the operation of chit funds in India. Chit funds are financial arrangements where a group of individuals contributes a certain amount of money periodically, and the total amount is given to one member of the group through an auction or lottery system. The Chit Funds Act aims to protect the interests of subscribers and regulate the conduct of chit fund companies to ensure transparency and fair practices. It is important for individuals and organizations to understand the legal provisions surrounding chit funds to participate in or operate them in compliance with the law.

2 articles
Income TaxBusiness Loss from Chit Fund Allowed by ITAT
Income Tax

Business Loss from Chit Fund Allowed by ITAT

Editor23 years ago
FinanceAll about Chit Fund in India
Finance

All about Chit Fund in India

Shivani Sharma4 years ago