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Chit busienss deposits in bank account

This query is : Resolved 
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(Querist)
18 May 2023 In the case of chit fund business is there any restriction to collect of chit subscription and deposit in the bank and pay to the prized chit subscriber by cash / open cheque.
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
19 May 2023 Restriction of cash transaction of Rs. 20,000/- or above would apply.

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