Chitmonks is a neutral market place for promoting Chit Funds of Registered Chit Fund companies. Chit Fund is a very unique financial instrument helping all customer segments over several decades. By participating in a Chit Funds which is registered as per the Central Act and Governed by the State rules, the subscribers get a Safe, Better and Tax deferred dividends.
Important terms in Chit Funds After listening from customers who are asking about Chit Funds, we realized that about 80-90% of the customers are new to the concept. Hence this is an honest attempt to put forward all the terms that are used in general. So, please feel free to comment and let
Lot has been spoken, written, interpreted and forecasted on Currency Demonetization already. I was waiting on something to be written for Chit funds as well. I am going to attend one of the diamond jubliee celebrations of a chit fund association in Tamilnadu, where there will be veterans, academicians, politicians who will be talking about the impact, and how
Many articles and blogs / posts have been written across the .com but we would like to state it in our way here too. We at IBG eChits believe that Chit Fund is one very traditional but a unique financial instrument which acts like a group borrowing / savings platform, which allows you to borrow money while you started to save every
1) What is the “Chit Fund Funda”? Chit Funds are small groups which collect money pooled in monthly by members. Each month one member (winner member) gets to take the pooled in money. Reverse auction mechanism determines the winning member.
Registered Chit Funds Vs Fraudulent investment Schemes Fraudulent investment schemes where investors are lured into parking their funds with promises of high returns are not unusual in India. Some of the biggest include the Sahara and the Saradha chit fund fraud, which have duped
Chit Fund Tax Benefits The purpose of any investment is to generate a return. However, without proper homework, without understanding taxation, optimal returns are not possible. This blog deals with taxation and chit fund tax benefits. Here’s our take on the various tax scenarios for investments in chit funds in
A new monk has entered the market place whose identity is unknown to the public. He has successfully got some of the best Chit Fund companies onto one platform and is famously touted as the best online market place for Chit Funds. These are the minutes of the first public interview he has given- M: Who are you?