Amendment status not verified — confirm the current text below against the official source.
Manner of giving donations- (1) Any donation of money to any educational institution, shall be made only in such manner as may be prescribed and not otherwise. (2) All moneys received by any educational institution by way of voluntary donations shall be deposited in the account of the institution, in any Scheduled Bank and shall be applied and expended for the improvement of the institution and the development of the educational facilities and for such other related purposes as may be prescribed.