How can I start a chit fund in Kerala?

How can I start a chit fund in Kerala?

Let us understand the complete procedure in the following steps:

  1. Apply for Digital Signature and DIN numbers.
  2. Apply for Name approval of Chit Fund Company.
  3. Prepare all the documents according to Chit Fund Company objectives.
  4. Minimum Capital Requirement for Chit Fund Company.
  5. Apply for Chit Fund Company registration.

How do I start a chit fund?

To start a chit, a chit fund company usually advertises a chit fund scheme and enrols interested members. All chit fund schemes have a period, contribution and a set of members. The number of members in the chit will equal to the period, and each of the members requires to contribute a fixed amount for each period.

How do I start KSFE Chitty?

A person can enroll in a chitty either by visiting the Branch or through the agents of KSFE. You may either click the feed-back or directly ring to any one of the Branches which is nearer to your location.

Can I open KSFE Chitty online?

You can visit the KSFE Pravasi Chit web portal or Mobile application and register by providing your basic information. You will receive a username and password you can login using these credentials and complete the process.

How can I recover my money from chit fund?

You will have to file a complaint against the owner of the chit fund under Section 420 for cheating and Section 406 for criminal breach of trust of the Indian Penal Code,1860.

Is chit fund money taxable?

Tax on Income from Chit Funds The dividend income earned per month is neither tax deductible nor taxable. The overall income is taxable as income from other sources. The overall loss can be claimed as business loss.

Can I pay KSFE online? Online Payment Login : The subscriber can make payments via online using Internet Banking/Debit cards. You can also submit a cheque in any of the KSFE Branch or pay using the POS device available with KSFE agents.