Amendment status not verified — confirm the current text below against the official source.
Budget of charitable or religious institution or endowment - (1) The trustee of every charitable or religious institution or endowment shall, ninety days before the close of every financial year, submit in such form as may be specified by the Commissioner, a budget showing the probable receipts and disbursements of the institution or endowment during the following year – (i) to the Commissioner, if it is included in the list published under 2[clauses (a) and (d)] of section 6; (ii) to the Deputy Commissioner, if it is included in the list published under clause 3[XXXX] (b) of section 6 ; (iii) to the Assistant Commissioner, if it is included in the list published under clause (c) of section 6. (2)(a) Every budget shall make an adequate provision for – (i) the due maintenance of the objects of the institution or endowment and the proper performance of and the 1 . Substituted by the Act No.33 of 2007, S.18 (w.e.f. 14-12-2007) 2 . Substituted by the Act No.33 of 2007, S.19 (w.e.f. 14-12-2007)