Amendment status not verified — confirm the current text below against the official source.
The Chairman and Members of the Finance Commission shall render whole time or part time service to the Finance Commission as the Governor may in each case specify and there shall be paid to the Chairman and Members of the Finance Commission such foes or salaries and such allowances as the State Government may, prescribe from time to time. 27 9 The Finance Commission shall review the financial position of the Panchayats and Municipalities and make recommendations to the Governor (A) in the case of Panchayats as to (a) the principles which shall govern (i) the distribution betw3en the State and the Panchayats of the net procecds of the taxes, duties, tolls and fees leviable by the State, which may be divided between them and the allo cation between the Panchayats at all levels of their respective shares of such proceeds : (i) the determination of the taxcs, duties, tolls and fees which may be assigned to, or appropriated by the Panchayats ; and (iii) the grants-in-aid to the Panchayats from the Consoli dated Fund of the State ; (B) in respect of Municipalities as to Term of office Members. (6) the measures needed to improve the financial position of the Panchayats ; and (a) the principles which shall govern of (c) any other matter referred to the Finance Commission by the Governor in the interests of sound finance of the Panchayats ; Conditions of service and salaries and allowançes of Functions of the Finance Co m mission. (i) the distribution between the State and the Municipalities of the net proceeds of the taxes, duties, tolls and fees leviable by the State, which may be divided between them under this Act and the allocation between the Municipalities at all levels of their respective shares of such proceeds; appointment letter. Members. PUNJAB GOVT GAZ., (EXTRA), APRIL 19, 1994 (CHTR. 29, 1916 SAKA)