Amendment status not verified — confirm the current text below against the official source.
Budgets of Religious Institutions.—(1) The trustee of every religious institution shall, before the end of March in each year, submit, in such form as may be specified by 1[the Commissioner], a budget showing the probable receipts and disbursements of the institution during the following fasli year:— 2[(a) to the Commissioner in the case of maths and specific endowments attached to maths ; (b) to the Joint Commissioner / Deputy Commissioner in the case of institutions included in the list published under section 46 ; (c) to the Assistant Commissioner in the case of other institutions.] (2) Every such budget shall make adequate provision for— (a) the due maintenance of the objects of the institution and the proper performance of the services therein ; (b) the due discharge of liabilities of loans binding on the institution ; (c) the repair and renovation of the buildings connected with the institution, the provision made under this clause not being less than twenty- five per centum of the surplus in the income of the institution for the year ; (d) the contribution to the reserve fund of the institution at such per centum of the income as 1[the Commissioner] may fix ; (e) the maintenance of the working balance. ______________________________________________________________________________