Amendment status not verified — confirm the current text below against the official source.
(1) For every Gaon Panchayat there shall be constituted a chayat f«nd. Gaon Panchayat fund bearing the name of the Gaor Panchayat and there shall be placed to the credit thereof:— (a) contrrbutlon and grafts, if any, made by the Central or the State Government; (b) contribution and grants, if any made by the Zilla Parishad, Anchalik panchayat or any other local authority; (c) loans, if any, granted by the Central or the State Government ; (d) all receipts on account cf taxes, rates and fees levied by it ; ie) all receipts in respect of any schools, hospita's, dispensary, buildings, institutions or works vested in, ccnstrucied by or placed under the control and managemes-t of the Gacn Panchayat. (f) all sums received as gifts cr contribution and all income from any trust or endowment made in favour o; the Gaon Panchayat ; (g) such fines and penalties imposed ©r realised under the provi sions of this Act as may be prescribed; THE ASSAM GAZETTE. EXTRAORDINARY, MAY. 6, 1994 615 (h) all other sums received by or on behalf of other Gatn Paneha- yat. (2) Every Gaon Panohaynt shall get apart and apply annually such sum as may be rec tied to meet the cost of its own administration including payment of wages and purchase offurriture and other office equipment afid suiiooery articles and to meet the charges on electri city, post and telegraphs, P. O. L. etc. and other iacidental charges : Pcov.ded that tk ; tojal expenditure on establishment shall not exceed one third of th© total expenditure of the Gaon Pancbayat in a year. (3) Every Gaon Pancbayat shall have the powers to spend such sums as it thinks fi f r carrying out the purposes of this Act; ♦ (4) The G. on Panrkavat fund shall be vested in the Gaon Pan- chayat and the balance to the credit of the fund shall be kept in the custody of the Gaon Pancbayat Secretary. Taxation.