Essay On Chit Fund

Essay On Chit Fund-23
We give utmost importance to this process as we have to safeguard the interests of all non-prized subscribers.Registered chit funds are regulated by the state governments.Although the Saradha Group, under the leadership of its founder and chairman and managing director Sudipta Sen, was carrying on its operations in the State for over a decade, it was in mid-2010 that its activities started gaining momentum and coverage.

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Download Chit Monks app, register yourself and chose a chit that suits your requirement from the available e Chits. Our team will validate the details and will contact you within 24hours.

Once you submit the required documents and make your first payment, you will get the details of your subscription immediately.

At Chit Monks we try to balance a group composition with both savers and borrowers so that everyone gets better reward. If you want to claim the bid as loss then these dividends has to be shown as revenue income in the assessment.

Hence the entire dividend earned in a chit is not taxable if you don’t claim the bid amount as loss. You can participate in live auction through Chit Monks app.

Members who wish to participate in the auction at our office are expected to be present in the auction hall 10 minutes before auction time as verification has to be done by branch for signatures of members.

If a member is unable to participate in the auction the member can authorize some other person whose signatures have to be authenticated by the member.The Trinamool Congress, which completes two years in power in May, will find it next to impossible to disown its close ties with the tainted organisation or provide a plausible answer to the righteous indignation of lakhs of gullible investors, including a sizable section of urban and rural poor, who constitute much of the party’s support base.Though the extent of loss to the investors is not known, some estimates state that the group may have collected more than Rs.20,000 crore through its various deposit-collection schemes in West Bengal, Assam, Odisha, Tripura, Jharkhand and Bihar run through its 160 companies.e Chit stands synonymous to transparency, efficiency and comfort.You will have control over chit and will be able to take financially prudent decisions basis availability of information at your fingertips.TROUBLE does not seem to end for the Mamata Banerjee-led Trinamool Congress government in West Bengal.The collapse of the chit fund company Saradha Group is one of the biggest financial scandals to hit the State and may well be the ultimate undoing of Mamata Banerjee’s government.Your BID offers will be considered for deciding PS.For every group the auction time is 5 minutes on a specified date and time.With the help of publicity, it became a household name.Its position strengthened further with the change of government in May 2011 when the Trinamool Congress came to power, ending the 34-year-old rule of the Communist Party of India (Marxist)-led Left Front.

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