Chit Registration
Chit Fund Registration is governed by the Chit Funds Act, 1982. A chit fund is a savings scheme where a group of individuals contribute to a common fund, and each member receives the collected amount in rotation.Benefits of Chit Fund Registration
- Legal recognition of the chit fund business.
- Financial security for members involved in the chit fund.
Documents Required for Chit Registration
- PAN Card of the chit fund manager.
- Proof of business address.
- Chit Fund bylaws and rules.
- List of members involved in the chit fund.
- Identity and address proof of members (Aadhaar, Voter ID, etc.).