Maintenance of accounts and restriction of expenditure.

Infrastructure1994251 sections19 chapters

Chapter XI Chapter XI

Statutory text

(1) Accounts of the income and expenditure of a Panchayat shall be kept in accordance with such rules as may be prescribed.
(2) Expenditure from the 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) A Panchayat shall, within a period not exceeding three months after the close of the financial year, pass the accounts of that year.

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