Section 17 in Hindu Religious Institutions and Charitable Endowments Act, 1997
17. Creation of Common Pool Fund.
- It shall be lawful for the Commissioner to create a fund to be called the Common Pool Fund out of.-(a)contributions made by the Notified Institutions at five per centum of their gross annual income arrived at after deducting the following, namely.-(i)donations made as contribution to the capital;(ii)amounts realised by sale of jewels or other movable or immovable properties belonging to the institution;(iii)amounts received for specified services or charities where the service or charity is performed.(b)Grants received from the State Government.
