The Chit Funds Act, 1982
Administered Ministry: Ministry of Finance / Department of Financial Services
Schedule
First Schedule THE SCHEDULE
THE SCHEDULE
[See section 24]
PART I.—FORM OF BALANCE SHEET
Liabilities Assets
1. Capital 1. Cash Rs.
Authorised . . . . . Rs. 2. Balances with banks:
Issued . . . . . . Rs. (a) Current account . . . Rs.
Paid-up . . . . . . Rs. Rs. (b) Deposit account . . . Rs. Rs.
3. Investments:
2. Reserve Fund . . . . . Rs. (a) In chits . . . . Rs.
3. Deposits . . . . . Rs. (b) In government securities . Rs.
4. Borrowings . . . . . Rs. (c) Others . . . . Rs. Rs.
5. Foreman’s liability in tickets prized Rs. 4. Share amount due from prized
subscribers:
6. Prize amount payable . . . . Rs. (a) Secured . . . . Rs.
7. Defaulted subscribers’ amount
payable . . . . .
Rs. (b) Unsecured . . . . Rs. Rs.
8. Advance subscription received . Rs. 5. Arrears due from prized
subscribers:
9. Liability to non-prized subscribers Rs. (a) Secured . . . . . Rs.
(Arrears from non-prized subscribers
to be indicated) . . . .
(b) Unsecured . . . . Rs. Rs.
10. Amount payable in terminated chits . Rs. 6. Amount due in terminated
chits:
11. Auction profit payable to non-prized Rs. (a) Secured . . . . . . Rs.
Subscribers . . . . . (b) Unsecured . . . . . Rs. Rs.
12. Other liabilities . . . . Rs. 7. Chit prize amount paid earlier Rs.
13. Profit and loss account . . . Rs. 8. Loans and advances to
subscribers . . . . . .
Rs.
9. Litigation expenses . . . Rs.
10. Premises . . . . . . Rs.
11. Furniture and fixture . . . Rs.
12. Stamps in stock . . . . . Rs.
13. Other assets . . . . . . Rs.
14. Profit and loss account . . . Rs.
TOTAL Rs. TOTAL Rs.
Particulars to be specified in respect of amounts
shown against 4, 5 and 6.
Total chit amounts of the chits in fore, i.e., running
chits.
(i) Amounts due from directors or officers of the
company or any of them either jointly or
severally with any other person.
(ii) Amounts due by companies or firms in which
the directors of the company are interested as
directors, partners or in the case of private
companies, as members.
PART II.—FORM OF PROFIT AND LOSS ACCOUNT
Expenditure Income
1. To interest paid on deposits, borrowings, 1. By foreman’s commission . . . Rs.
etc. . . . . . . . Rs. 2. By bonus . . . . . . Rs.
2. To salaries, allowances, bonus and 3. By interest . . . . . . Rs.
provident fund . . . . Rs. 4. By indivisible income in auction profit . Rs.
3. To directors’ sitting fees . . . Rs. 5. By rent . . . . . . Rs.
4. To rent, taxes, insurance, lighting . Rs. 6. By net profit on sale of investments . . Rs.
5. To law charges . . . . . Rs. 7. By other receipts . . . . . Rs.
6. To postages, telegrams and stamps . Rs. 8. By loss . . . . . . Rs.
7. To auditors’ fees . . . . . Rs.
8. To filing fees . . . . . Rs.
9. Ro depreciation and repairs . . . Rs.
10. To stationery, printing and
advertisement . . . . . .
Rs.
11. To other expenditure . . . . Rs.
12. To balance of profit . . . . Rs.
TOTAL Rs. TOTAL Rs.