CHIT TRANSACTIONS CHIT INVESTMENT
CHIT TRANSACTIONS If
face loss at the end of 3 year chit period, can the monthly contributions over the previous 2 investment years can be taken as expense. Are the monthly chit installments or contributions treated as normal expense or loan expense.
Otherwise
Transfer all the Dividends received for the entire chit period to a which is under liabilities side of the Balance Sheet and then At the time of Lifting the Chit.
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