Amendment status not verified — confirm the current text below against the official source.
Maintenance of accounts and restriction of expenditure.- (1) Accounts of the income and expenditure of a Grama Panchayat shall be kept in accordance with such rules as may be prescribed. (2) Expenditure from the Grama Panchayat Fund shall, save as otherwise expressly provided for in this Act, be incurred subject to such sanctions, conditions and limitations as may be prescribed. (3) Grama Panchayat shall, within a period not exceeding three months after the close of the official year, pass the accounts of that year.