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chit fund act :
Explanation —A transaction is not a chit within the meaning of this clause, if in such transaction, —
(i) Some alone, but not all, of the subscribers get the prize amount without any liability to pay future subscriptions; or
(ii) All the subscribers get the chit amount by turns with a liability to pay future subscriptions.
We are always available and open to answer your questions and concerns. Talk to us, to have a better clarification
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Chennai – 600032
Head Office: 1021/2, Vetri Towers, Avinashi Road, Coimbatore -641018
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