Kaagazaat

Committee (Chit) Agreement

At a glance

Price: ₹399 · GST included
Stamp duty: The Chit Funds Act, 1982 and the Rules made under it by the State Government (or, in Chandigarh, by the Administrator, Union Territory of Chandigarh, who exercises the State Government's functions under the Act there) commonly fix the fee payable on filing the chit agreement for registration, which may stand in place of, or alongside, ad valorem stamp duty under the Indian Stamp Act, 1899.
Registration: Compulsory, and central to the whole document: s.16 of the Chit Funds Act, 1982 requires the Foreman to file the chit agreement for registration with the Registrar of Chits before commencing the chit, and the Foreman must first have obtained the previous sanction of the State Government, or of the officer the State Government authorises in that behalf, under s.4 of that Act, without which a chit may not be commenced or conducted at all.
Witnesses: Not required by the Act.

₹399

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Also called

Chit Agreement
Kameti Samjhauta
Committee Fund Agreement
BC Agreement (Beesi/Bhishi)
ਕਮੇਟੀ ਸਮਝੌਤਾ
समिति (कमेटी) करार
Chit Fund Agreement
Bhishi Karar

Whether you can fill this in here

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You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

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Why you need it

When you need it

A group of people are running a "committee" or "kameti" — a chit — where each subscriber pays a fixed instalment every month, one subscriber takes the pooled amount each month by auction or by lot, and the person organising it (the foreman) wants the whole arrangement, and everyone's obligations under it, on one signed paper. A chit of this kind is not a private arrangement outside the law merely because it runs among friends, relatives or shopkeepers: the Chit Funds Act, 1982 governs every chit, defines the foreman's and subscribers' rights and obligations, requires the chit to have the previous sanction of the State Government (or the officer authorised in that behalf) before it is commenced, requires the chit agreement to be filed for registration with the Registrar of Chits for the area before the first instalment is collected, and caps the foreman's commission at 5% of the chit amount under s.21. Running an unregistered or unsanctioned chit is an offence under the Act, not merely a paperwork gap — confirm the sanction and registration position with the Registrar of Chits before collecting a single instalment, not after. For a chit conducted in Punjab or Chandigarh, whatever it is called locally — kameti, beesi, bhishi or committee. Not for a rotating informal arrangement with no foreman and no auction or draw (which may not be a "chit" within the Act's definition at all — check with the Registrar of Chits) and not a substitute for the statutory Form of Chit Agreement in the Second Schedule to the Act, which the Registrar will in any event require in the prescribed form for filing; use this document to record the same terms between the parties and adapt its content to that prescribed form before filing.

See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

The Chit Funds Act, 1982 and the Rules made under it by the State Government (or, in Chandigarh, by the Administrator, Union Territory of Chandigarh, who exercises the State Government's functions under the Act there) commonly fix the fee payable on filing the chit agreement for registration, which may stand in place of, or alongside, ad valorem stamp duty under the Indian Stamp Act, 1899. Confirm with the Registrar of Chits for the area, before the agreement is filed, whether a separate Indian Stamp Act duty is additionally payable in Punjab under Schedule I-A, or in Chandigarh under the Chandigarh Administration's own table at revenue.chd.gov.in, and if so, at what figure — do not assume the registration fee is the whole of what is payable.

Registration

Compulsory, and central to the whole document: s.16 of the Chit Funds Act, 1982 requires the Foreman to file the chit agreement for registration with the Registrar of Chits before commencing the chit, and the Foreman must first have obtained the previous sanction of the State Government, or of the officer the State Government authorises in that behalf, under s.4 of that Act, without which a chit may not be commenced or conducted at all. PUNJAB: file with the Registrar of Chits appointed by the Government of Punjab for the district in which the chit is conducted, together with the security the Act and the Punjab Rules made under it require the Foreman to furnish. CHANDIGARH: file with the Registrar of Chits for the Union Territory of Chandigarh, appointed by the Administrator. BOTH: confirm the current office, the documents required with the filing, and the security to be deposited, before collecting the first instalment — collecting instalments under an unsanctioned or unregistered chit is treated by the Act as an offence, not a mere irregularity to be cured later.

Notarisation

Not required by the Chit Funds Act, 1982, which asks for filing with the Registrar of Chits rather than notarisation. Notarising the Foreman's and Subscribers' signatures in addition is sometimes done for a chit with a large number of subscribers, simply to remove later doubt about who actually signed.

Witnesses

Not required by the Act. Two witnesses are recommended given how many people are bound by a single document and how often chit disputes turn on who agreed to what.

Talk to a lawyer about this document₹3,539 including GST (₹2,999 + 18% GST), per documentRequest Stamp Paper

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COMMITTEE (CHIT) AGREEMENT

This Committee (Chit) Agreement (this "Agreement") is made at Ludhiana on 2 April 2026.

BY AND AMONG

Rajinder Kumar Sharma, an individual, of Shop No. 9, Model Town, Ludhiana 141002, PAN AFRPB2211J (the "Foreman"),

AND

The Subscribers listed in Schedule I, each of whom executes this Agreement in respect of the ticket or tickets shown against their name (each a "Subscriber" and together the "Subscribers").

The Foreman and the Subscribers are each a "Party" and together the "Parties".

RECITALS

A. The Foreman has obtained the previous sanction required by s.4 of the Chit Funds Act, 1982 to commence and conduct this chit. Particulars of that sanction: Sanction granted by the Registrar of Chits, Ludhiana vide order No. ROC/LDH/2026/318 dated 2 September 2026.

B. The Foreman proposes to conduct a chit of ₹20,00,000 (Rupees Twenty Lakh only), divided into 20 tickets of ₹1,00,000 (Rupees One Lakh only) each per month, for 20 months, on the terms of this Agreement, and the Subscribers have each agreed to take one or more tickets in it.

NOW THIS AGREEMENT WITNESSES as follows.

THE CHIT

1.1 The chit amount is ₹20,00,000 (Rupees Twenty Lakh only), divided into 20 equal tickets. Each Subscriber shall pay ₹1,00,000 (Rupees One Lakh only) for each ticket held, every month, for 20 months, being the duration of the chit.

1.2 The first instalment is due on 1 April 2026, and each subsequent instalment is due on the 5 of the following calendar months until the chit is completed.

1.3 This Agreement is governed by the Chit Funds Act, 1982 and the Rules made under it as applicable in the State of Punjab, and every clause of this Agreement is subject to that Act and those Rules; where any clause of this Agreement conflicts with the Act or the Rules, the Act and the Rules prevail.

THE FOREMAN'S COMMISSION

2.1 The Foreman is entitled to a commission of 5% of the chit amount, being not more than the 5% permitted by s.21 of the Chit Funds Act, 1982, deducted from the discount at each instalment in the manner stated in clause 4.

CONDUCT OF THE DRAW OR AUCTION

3.1 By open auction among the Subscribers at each meeting, the prize being awarded to the Subscriber willing to forgo the largest discount from the chit amount, subject to the minimum discount, if any, stated below

3.2 No bid below 5% of the chit amount shall be accepted at the auction; if no Subscriber bids at least that much at a meeting, the prize for that month shall be decided by draw of lots among the Subscribers present, or carried over to the next meeting, as the Foreman and the Subscribers present agree.

3.3 The monthly meeting, draw or auction is held at Foreman’s office, Shop No. 9, Model Town, Ludhiana 141002, or at such other place as the Foreman notifies to the Subscribers in writing at least three days in advance.

Questions about this document

Does the Committee (Chit) Agreement need stamp paper or stamp duty in Punjab and Chandigarh?

Does the Committee (Chit) Agreement need registration in Punjab and Chandigarh?

PUNJAB: file with the Registrar of Chits appointed by the Government of Punjab for the district in which the chit is conducted, together with the security the Act and the Punjab Rules made under it require the Foreman to furnish.

CHANDIGARH: file with the Registrar of Chits for the Union Territory of Chandigarh, appointed by the Administrator.

BOTH: confirm the current office, the documents required with the filing, and the security to be deposited, before collecting the first instalment — collecting instalments under an unsanctioned or unregistered chit is treated by the Act as an offence, not a mere irregularity to be cured later.

What does the Committee (Chit) Agreement cost on Kaagazaat?

₹399, GST included.

Launch period: downloads are free for now. The prices shown apply once payments open.

Does the Committee (Chit) Agreement need witnesses?

Not required by the Act. Two witnesses are recommended given how many people are bound by a single document and how often chit disputes turn on who agreed to what.

Often needed with this document

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