ABSTRACT

Chit Funds Act , 1982  and Tamil Nadu Chit Funds Rules,  1984  - Revision of rate of fees prescribed in Appendix II to the Rule - Notification - Issued.


COMMERCIAL TAXES (G)  DEPARTMENT

G.O.Ms.No. 14 
Dated:18.2.2003

Read:

1. From the Inspector General of Registration letter No.12153/H1/2000, dt:28.4.2000.

2. Government D.O.letter No.11241/G/2000-4, dt:18.7.2001.

3. From the Inspector General of Registration Letter No.12153/H1/2000,  dt:30.7.2001 and 3.8.2001.

4.  Government letter No.11241/G/2000-9,dt:7.10.2002.

5.  From the Reserve Bank of India , Mumbai letter No.DNBS.PD.No.523/03.12/2002-2003, dt:28.1.2003.

  ...

ORDER:

The Notification annexed to this order will be published in the Tamil Nadu Government Gazette.

(By Order of the Governor)

SHAKTIKANTA DAS
SECRETARY TO GOVERNMENT

To

The Inspector General of Registration, Chennai-28.

The Works Manager, Government Central Press, Chennai-79. (With a request to send 50 copies of Notification to Government and 150 copies to Inspector General of Registration, Chennai-28.)

The Legislative Assembly Secretariat, Chennai-9.

The Deputy General Manager,  Reserve Bank of India,  Department of Non-Banking Supervision, Central Office, Centre I, IInd Floor, B Wing, World Trade Centre Complex, Cuffe Parade, Colaba, Mumbai-400 005.

Copy to:

The Law Department, Chennai-9.

The Commercial Taxes (U) Department, Chennai-9.

 The Commercial  Taxes (G) Department, Chennai-9. (for placing the Notification before the Tamil Nadu Legislative Assembly.)

Stock file/Spare copy.

// Forwarded / By Order   //

SECTION OFFICER

ANNEXURE.

NOTIFICATION.

In exercise of the powers conferred by section 89  read  with sections 62 and 63 of the Chit Funds Act, 1982 (Central Act 40 of 1982), the Governor of Tamil Nadu,  in consultation with the Reserve Bank of India, hereby  makes the following amendment to the Tamil Nadu Chit Fund Rules, 1984:-

AMENDMENT

In the said Rules, for Appendix II, the following  Appendix shall be substituted, namely:-

APPENDIX-II

Levy of fees under sections 62 and 63 of the Chit Funds Act, 1982

(Central Act 40 of 1982)

(See rule 42)

TABLE OF FEES

1. For the application for previous sanction to commence or conduct a chit under sub-section (2) of section 4-

(a) When the duration of   the chit does not extend  beyond a year

Rs.4 per ticket or instalment whichever is higher subject to  a minimum  of Rs.125/- 

(b) When the duration of  the chit extends beyond a year 

    (i) when the chit  amount does not  exceed Rs.5,000/- .

  

Rs.6.00 per ticket or instalment whichever is higher subject to a minimum of Rs.125/- 

     (ii) When the chit  amount  exceeds Rs.5,000/- but does not exceed  Rs.10,000/-

 Rs.10.00 per ticket or instalment whichever is higher subject to a minimum of Rs.200/- 

 (iii) When the chit  amount exceeds   Rs10,000/- but does not exceed Rs.20,000/-

Rs.15.00 per ticket or instalment whichever is higher subject to a minimum of Rs.275/- 

(iv) When the chit  amount  exceeds Rs20,000/- but   does not exceed Rs.30,000/-

 Rs.20.00 per ticket or instalment whichever is higher subject to  a minimum of Rs.350/- 

(v)When the chit  amount exceeds Rs.30,000/- but does not exceed  Rs.40,000/-

Rs.25.00 per ticket or instalment whichever is higher subject to a minimum of Rs.425/- 

(vi)  When the chit  amount exceeds  Rs.40,000/- but does not exceed  Rs.50,000/-

Rs.30.00 per ticket or instalment whichever is higher subject to a minimum of Rs.500/- 

(vii) When the chit  amount  exceeds  Rs.50,000/- but does not exceed  Rs.1,00,000/-

Rs.45.00 per ticket or instalment whichever is higher subject to a minimum of Rs.700/- 

(viii) When the chit  amount exceeds Rs.1,00,000/- but does not exceed Rs.2,00,000/-

Rs.50.00 per ticket or instalment whichever is higher subject to a minimum of Rs.800/- 

(ix) When the chit  amount exceeds Rs2,00,000/-

Rs.55.00 per ticket or instalment whichever is higher subject to a minimum of Rs.1000/- 

2. (a) For filing the chit  agreement   with the Registrar and the Registration of chit  under section 7

Rs.15/-.

(b) For every application for registration of alteration, addition to or cancellation of chit  agreement under section 15 and rule 14. 

Rs.15/-

3. For filing the declaration with the Registrar and  the grant of a certificate of commencement under    sub-section (1) of section 9. 

Rs.10/-

4. For filing the certificate under sub-section (2) of section 10.

Rs.5/-

5. For filing  a copy of the minutes of  the proceedings under section 18.

Rs.5/- 

6. For the audit of balance sheet under section 24 by the Chit Auditor  -- 

(a) When the aggregate chit amount of chits covered by the balance sheet does not exceed Rs.10,000/-

 (b) When such amount  exceeds Rs.10,000/- for every Rs.1000/- or  part thereof in excess of Rs.10,000/- 

  

Rs.100/- 

Rs.25/-

7. For filing the audited balance sheet under section 24 -

 (a) When the aggregate chit amount of  chits covered by the  balance sheet does not exceed  Rs.5,000/-

  (b) When such amount exceeds Rs.5,000/- but does not exceed Rs.10,000/-   

   (c) When such amount  exceeds Rs.10,000/- but does not exceed Rs.20,000/-  

  (d) When such amount  exceeds Rs.20,000/- but does not exceed Rs.30,000/- 

  (e) When such amount  exceeds Rs.30,000/- but does not exceed  Rs.40,000/-

  (f) When such amount  exceeds Rs.40,000/- 

 

 

Rs.50/-


Rs.100/-

 

Rs.200/-

 

Rs.300/-

 

Rs.400/-

  

Rs.500/- 

8. For the audit of accounts under sub-section (4) of the section 61 by the Chit Auditor -

 (a) When the chit amount  does not exceed Rs.5,000/-

 (b) when the chit amount  exceeds Rs.5,000/- but  does not exceed Rs.10,000/- 

  (c) when the chit amount   exceeds Rs.10,000/- but does not exceed Rs.20,000/- 

(d) when the chit amount exceeds Rs.20,000/- but does not exceed   Rs.30,000/-

(e) when the chit amount   exceeds Rs.30,000/-  but does not exceed  Rs.40,000/- 

(f) when the chit amount  exceeds Rs40,000/- but  does not exceed  Rs.50,000/- 

 

 

 Rs.50.00

 

 Rs.100.00

  
Rs.200.00

 

Rs.300.00

  

Rs.400.00

  

Rs.500.00

9. If the balance sheet or accounts are audited under section 24 or sub-section (4) of section 61 at the premises of the foreman or outside the office of the Registrar for each such audit, in addition to fee payable under Articles 6 and 8.

Rs.50 plus an amount equal to the Traveling Allowance and Daily Allowance admissible to the Chit Auditor  under the  Tamil Nadu Traveling Allowance Rules 

10.  (a) For the application  for extension of time for filing the declaration under sub-section (3) of  section 7 . 

(b) For the application for approval to  appropriate sums from the reserve fund under sub- section (4) of section 8

(c) For the application to offer as security  the immovable property under sub-rule (5) of rule 18- 

  (i) Situated outside the jurisdiction of the Registrar but within the State.

 (ii) Situated outside the  State.

 (iii) For the inspecting the  immovable property offered as security   under section 20 to fix value of the property by the Deputy Registrar of Chits.  

(d) For the application for  permission to substitute the security during the   currency of the chit  under sub-section (3) of section 20

(e) For the application   from the Foreman to conduct any draw in  the presence of the Registrar or the  person deputed by him under sub-section (3) of section 16.

(f) For the application for   the prior approval of the Registrar to open a new place of  business under sub-section (1) of section 19.

(g) For the application for extension of time to file copies of documents under  section 75 

  (h) For the application to award compensation against frivolous or vexatious petition for winding up of chit under sub-section (1) of section  58.

 (i) For the application,  for  injunction order under section 52

 (j) For the application for leave to continue legal proceedings against foreman under section 55.

(k) Application for  attachment of   property  under sub-section (1) of section  68. 

Rs.20.00

 

  

Rs.200.00

 

 

   

Rs.50.00

 Rs.100.00

 Rs.250.00

 

 

  Rs.50.00

  

Rs.20.00

 

   

Rs.150.00

 

  

Rs.30.00

  

Rs.15.00

 

Rs.15.00

 

 Rs.15.00

 
Rs.25.00
 

11. A fee of rupees five  shall be levied in each case for filing with the Registrar-

(a) A copy of each entry  relating to the removal of defaulting  subscriber under sub- section (3) of section 28.

(b) A copy of each entry relating to the substitution of a subscriber under sub-section  (2) of section 29. 

  (c) A copy of entry  relating to transfer of the rights of Foreman   under section 37.

 (d) A copy of entry, relating to transfer of non-prized subscriber's right under section 37.

 (e) A copy of assent of all non-prized and unpaid prized  subscribers  for withdrawal of a  foreman  under section 41. 

  (f) A copy of consent of  all non-prized  and unpaid prized  subscribers to the termination of chit  under section 41. 

 

12. Fee for petition for decision of dispute.

Twenty rupees for every thousand or part thereof  of the amount of claim in dispute. 

13. Fee for application for winding up of chit -- 

  (a) When the chit amount does not exceed Rs.5,000/-

 (b) When the chit amount exceeds Rs.5,000/-

 

 

Rs.100.00

 Rs.200.00

 

14. Fee for adjournment of any proceedings under the Act.

Rs.25.00  

15. Fee for application for interim stay or relief other than appeals to the Government or any other authority under the Act. 

Rs.50.00

16. Fee for appeal to the State Government or any other authority-

(a) When it relates to a  chit with a chit amount not exceeding Rs.5,000/-

 (b) When such chit amount exceeds Rs.5,000/- but  does not exceed Rs.10,000/-

 (c) When such chit  amount exceeds  Rs.10,000/- but does not  exceed Rs.1,00,000/-

 (d) When such chit  amount exceeds  Rs.1,00,000/-  

 

 

Rs.100.00

 Rs.200.00

  

Rs.300.00

  

Rs.500.00

17. For inspection of one or more records relating to a chit under section 62 for each inspection.

Rs.5.00

 18. For every 100 words or fraction thereof of a copy or extract of the records relating to a chit furnished under section 64. 

  

Re.1.00

19. Re.1.00  for every 100 words or fraction thereof subject to a minimum of Rs.35/-  for  a certified copy of any order or judgment or award made by the Registrar or his nominee under section 69."

 

 

SHAKTIKANTA DAS
SECRETARY TO GOVERNMENT

// True Copy   //

SECTION OFFICER