Is margadarsi chit fund good?

We have an excellent track record of 99% recovery, which is a key to any successful financial company. Good recovery is possible only with qualitative members. Most importantly margadarsi has earned great reputation for best and timely payments of prize money.

Can I pay margadarsi online?

By using ” Pay by Net Banking” now you can pay your chit payment through net banking facility of various bank accounts. For availing this facility, you should be an authorized user of our web site. To become an authorized user, Register your self in our web site to get “User Id” and “Password”.

How do I log into margadarsi?

To access Margadarsi web site visit www.margadarsi.com and click go button. Home page will be displayed.

Is Kapil chit fund safe?

Kapil chits is your trustworthy, safe and reliable companion to help you reap maximum benefits from investing in a chits.

Are chits taxable?

In case the chit fund money is utilised for the purpose of business, any loss incurred out of the same is allowable as business expenditure. Note, however, that income from chit fund continues to be taxable under IFOS and not business income of an assessee even if the chit amount is used for the purpose of business.

Is GST applicable for chit funds?

12% GST on Interest or Penalty Charged by Chit Fund Company.

How do you calculate chit?

Amount collected per month = 20*1000 = Rs. 20, 000 – this is known as the Chit Amount. Once the first month’s payment is received, bids are invited from all subscribers. Any subscriber, who is in need of money, can bid for the chit amount, at a lower amount than it.

What is chit fund and how it works?

In a chit fund scheme, a group of people contribute periodically towards the chit value for a duration equal to the number of investors (members or subscribers). The amount collected is given to the person, who is either selected through a lucky draw (lottery system) or an auction.

Is chit fund money taxable?