Section 7, Chit Funds Act, 1982 [S1S-7CG]
As at 7 September 2026. In force from 18 September 1982.
7. Maintenance of records and furnishing of returns.—(1) Every firm shall maintain such records and registers relating to the business of a firm as may be prescribed and shall preserve them for a period of five years. (2) Every firm shall furnish to the Registrar a return in Form B within fifteen days from the end of every financial year, and such other information as the Registrar may, by order in writing, require.
Defined terms in this text (3)
business: Section 2, Chit Funds Act, 1982 [S1S776] (In this Act, unless the context otherwise requires,—): "business" includes every trade, occupation and profession
business: 13 more definitions.
firm: Section 2, Chit Funds Act, 1982 [S1S776] (In this Act, unless the context otherwise requires,—): "firm" means a firm registered under section 4
firm: 12 more definitions.
Registrar: Section 2, Chit Funds Act, 1982 [S1S776] (In this Act, unless the context otherwise requires,—): "Registrar" means the Registrar appointed under section 3
Registrar: 79 more definitions.
Made under this section, or naming it (0)
none
Cited by (3)
Section 2, Chit Funds Act, 1982 [S1S-776], 18 September 1982, Band A. "section 7".
Section 22, Chit Funds Act, 1982 [S1S-7VV], 18 September 1982, Band A. "section 7".
Rule 6, Chit Funds Act Rules, 1982 [S1S-85V], 18 September 1982, Band A. "sub-section (2) of section 7 of the Act".
Not held (0)
none
Duties published under this section (1)
D11-A1B. Every firm: Maintain records and registers of the business of a firm; preserve for five years; furnish the annual return in Form B; fifteen days from the end of every financial year; Form B. Published by Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry (synthetic record).