Come sapete, le merci avvengono diverse. La non fa eccezione. Sì, ognuno di essi garantisce al cliente una protezione dei dati affidabile, ma si trovano molti altri aspetti ai quali dovresti prestare attenzione e prendere in considerazione quando scegli.
Gli persone di sesso maschile d'affari, sia principianti che esperti, sono costantemente alla ricerca vittoria una soluzione così innovativa. Alcuni successo essi potrebbero essere inclini alla maggioranza delle opzioni di preventivo (a fine del desiderio di aiutare o tuttora situazione finanziaria), altri preferiscono la ottima fattura, riconoscendo l'importanza della sicurezza di tutti i di essi dati e volendo prevenire tutti i problemi che potrebbero danneggiare l'azienda costruiti in fine. Eppure probabilmente conosci il
The basic motive of any investments is to generate a return. However, some homework is essential on the part of investors for getting insights into the taxability of the returns on their investments. Here’s our take on the various taxability scenarios for investments in chit funds in general.
There are 2 different categories of person involved – Foreman and the subscribers – each earning income differently. Read on further to know more about how chit funds and tax benefits will go hand in hand.
Taxability on the commission earned by the Foreman –
Foreman acts on behalf of the chit fund company. He brings the subscribers together and conducts the chitty. He is responsible for collecting the money, presiding over the auctions, and keeping subscriber records. He is compensated by a fixed amount (generally 5% of the gross chitty amount) monthly fo
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?ChitMonks: Hello everyone, my name is ChitMonks. I am a one stop solution to check all the available options in the Chit Fund Market. I am 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 Fund which is registered as per the Central Act and Governed b
1)What is the ‘funda’ underlying chit funds?
The Jacques Kallis(if you are a cricket fan, you will understand the metaphor) of financial instruments, Chit funds are a personal loan and a recurring savings tool both rolled into one. In simple words, Chit funds are like small groups where members pool in their money every month and then once every month, one member is given the entire amount. However, in case of a Chit Fund the winning member is determined using a reverse auction mechanism (Like teams were recently bought in IPL).
2)Is Chit Funds a new concept?Not really. Though Chit funds haven’t been around since the Adam and Eve age, the scheme/instrument has been around for a while.
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 the registeredChit fund industry is gearing it up to take it further. Here are my 2 cents as to how demonetization will impact this industry.
While all of us love to earn money and spend it on our needs, growth and luxuries, we tend to move away from understanding some of the basic principles of money. Talking about Micro, Small and Medium Enterprises, or savers (employees) who are trying to grow their funds, everyone wants th
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 ChitMonks 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 month in the same group. This opportunity of raising money from the group works out to be very cheap compared to going for a borrowing upfront from other instruments out there in the market. No other financial instrument has this kind of advantage. This is the only instrument which combines both savings and borrowing capabilities which is not heavy on your pocket.
If the subscribers can choose a good company and invest safely and stick to the rules of Chit Fund companies strictly, this can be a very wonderful financial tool. ChitMonks is one place where you will be able to get that
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 us know if you need anything in specific and we will be more than happy to assist you.
Here are some of the key words which are generally used in the Chit Fund industry.
Chit Value:Chit Value is the amount of Chit that you are subscribing to.
Chit Duration :Number of months during which the Chit will be operated. It is always equal to the number of Subscribers.
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.
ChitMonks is re imagining this traditional financial instrument using technology. We plan to bring different insights helping the subscribers, agents and foreman alike.
You as a subscriber, who can be a Micro, Small and Medium Enterprise owner or a regular saver now and a potential borrower tomorrow, can choose a Chit which suits your capital needs / future requirements. ChitMonks help